Industry And Cluster | News & Insights

Riflescopes & Red Dot Sight Market Size Worth $9.8 Billion By 2026 | CAGR: 4.8%

Published: July 29, 2020

Author: TEXTILE VALUE CHAIN

“Riflescopes & Red Dot Sight Market Share, Size, Trends, Industry Analysis Report By Magnification ( 1-8x, 8-15x, >15x); By Sight Type (Telescopic, Reflex); By Red Dot Sight Type (Full size, Microdots, Mini Reflex); By Technology (Electro-Optic/IR, Thermal Imaging, Laser); By Application (Hunting, Armed Forces, Shooting Sports); By Range (Short, Medium, Long), By Regions, Segments & Forecast, 2020 – 2026”

The global Riflescopes & Red Dot Sight Market size is expected to reach USD 9.8 billion by 2026 according to a new study by Polaris Market Research. The report gives a detailed insight into current market dynamics and provides analysis on future market growth.

The Riflescopes Market is projected to witness a significant growth over the forecast period. Development of novel products, growing focus of governments across the globes on armed forces modernization, widening scale of anti-terrorist activities and broad product portfolio offered by companies are some of the factors benefitting the market growth.

Riflescope demand from shooting sports is also expected to witness steady growth over the forecast period. Shooting sports are played at various national and international levels in countries across the globe such as Olympics, Asian Games, Commonwealth Games, among others. The sport is becoming increasingly popular in countries such as India particularly after the nation secured medals in these major sporting events. Such trends are benefitting the overall riflescopes demand.

Read More about Riflescopes & Red Dot Sight Market : https://www.polarismarketresearch.com/industry-analysis/riflescope-and-red-dot-sight-market/request-for-sample

Riflescopes have inherent advantages that aid the shooter in various ways. IT reduces the complexity that is associated with using iron sights as riflescopes do not require lining up of the rear sight with the front sight. They also make the target easier to see as they provide magnification features, thus aiding in taking a more precise shot. The scope also enables crisp, sharp target picture thus making it easy to use for people having eye vision issues. Such advantages are benefitting the overall riflescope market demand.

North America was the largest regional market segment in 2019 while Asia Pacific was the fastest growing segment. Possessing a firearm is quite common in the U.S. In fact, studies conducted in the country have concluded that the firearm possession per family is very high in the country, higher than most countries across the globe. In addition, major market participants have strong presence in the country. Such trends are benefitting the riflescope demand in the U.S. thus also favoring the regional market growth.

Major market participants are trying to develop products by carefully studying the various determinant factors. These factors include the field of operation, hunting range, rifle size, among others. They have also developed advanced riflescopes which are small in size but still deliver high magnification. Products having HD lenses as well as T coating to provide high clarity and brightness have also been developed. Such novel development of riflescopes is benefitting the overall market growth.

The leading players in the Riflescope & Red Dot Sight Market include Bushnell, Schmidt & Bender GmbH & Co. Kg, Leupold & Stevens, Inc., Hawke Optics, Hensoldt, Burris Company, Vortex Optics, Aimpoint, Nightforce Optics, Inc., Nikon, BSA Optics, Flir Systems, Sig Sauer, Steiner, Leica Camera, Carl Zeiss AG, Trijicon, Inc., Eotech, U.S. Optics , and Primary Arms among others. These players are expanding their presence across various geographies and entering new markets such as China and India to increase their revenues. These riflescope industry participants are also introducing new innovative products to suit the customized needs of their clients.

Polaris Market research has segmented the Riflescope & Red Dot Sight Market report on the basis of magnification type, sight type, technology, application, range and region

Riflescope & Red-dot sight Magnification Outlook (Revenue, USD Billion, 2015 – 2026)