Global Riflescope Market Share Is Expected To Grow At A CAGR Of 3% By 2026

02-Mar-2020 | Facts and Factors

Findings from Facts and Factors report “Riflescope Market By Type (Telescopic Sight, Reflex Sight) By Technology (Electro-Optic/IR, Thermal Imaging, Laser) and By Application (Hunting, Armed Forces, Shooting Sports): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global riflescope market in 2019 was approximately USD 4,000 million. The market is expected to grow at a CAGR of 3% and is anticipated to reach around USD 6,000 million by 2026.

A riflescope is used to improve visibility by enlarging and recognizing the target. It is a telescopic device fixed at the uppermost portion of the rifle. Riflescope is used for several purposes sporting such as the commonwealth games and Olympics, for hunting, and in the defense sector. Riflescopes have a variety of knobs such as elevation adjustment knobs, windage adjustment knobs, and parallax focus knobs that serve diverse tasks. Riflescope is different in weight, and riflescope magnification need depends upon the target size.

Browse the full “Riflescope Market By Type (Telescopic Sight, Reflex Sight) By Technology (Electro-Optic/IR, Thermal Imaging, Laser) and By Application (Hunting, Armed Forces, Shooting Sports): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" report at https://www.fnfresearch.com/riflescope-market-by-type-telescopic-sight-reflex-sight-577

Technological innovations and the need for hunting applications is the aspect to drive the riflescope market. The essentiality of smart weapons, and modernization programs for the soldiers is driving the market growth. Manufacturers are developing superior riflescopes with numerous applications.

With the emerging technology, manufacturers are introducing advanced riflescope that contains various features such as rifles with an in-built laser range finder with accuracy. The advanced riflescope also includes a color graphics display, and geotagging.

Similarly, more such innovations in technology being introduced in the riflescope may lead as a driver for the growth of the riflescope market. A smart riflescope which is arranged to provide direct vision on the smart goggle of the user is also being developed which may lead as a market driver.

Riseconsumer interests in shooting sports and growth in new product development with ground-breaking skills by manufacturers are some of the trends generating the demand for a riflescope. The requirement of high investment in riflescope production may create restraints in market evolution. With the increasing demand for smart riflescopes, the need for advanced riflescopes in the defense sector is generating attractive opportunities in the industry.

Segmental Overview:

The riflescope type is divided into telescopic sight, and reflex sight. By comparing the reflex sights and telescopic sight, telescopic sight is gaining popularity in the riflescope globally. Telescopic sight recorded the highest sales, with over 10,000 units sold in 2019. Meanwhile, the reflex sight segment is also expected to bolster market growth in the future years.

By application, the riflescope is bifurcated into hunting, armed forces, and shooting sports. In 2019, The hunting category headed the market with more than USD 2,000 million and combined with its growing use in hunting activities is anticipated to increase the demand for rifle scopes in the near future.

By technology, the electro-optic/IR riflescope segment has shown huge sales in 2019, it was more than 7,900 units. Moreover, thermal imaging technology is also likely to experience growth during 2020-2026. Application-wise, the riflescope is majorly used for hunting activities. Hunting application is estimated to increase market consumption by over CAGR 3% in the forecast period.

Regional Overview:

By geography, North America held the largest market share in the global riflescope industry. In 2019, the North American region was valued at more than USD 1,700 million. North America was followed by Asia-Pacific and Europe in 2019. Technological innovations and increasing the adoption of riflescopes in the defense sector are some of the factors boosting the market in these regions.

Report Scope

Key Market Players

Some key players holding the top position in the riflescope market are Holosun Technologies, Bushnell, Leupold, Burris, Hensoldt, Leapers, Tasco, Nikon, Schmidt & Bender, WALTHER, Nightforce, Vortex Optics, Barska, BSA Optics, Swarovski Optik, Meopta, Carl Zeiss AG (ZEISS), Sightron, Inc., Sightmark, Carl Zeiss AG (ZEISS), Simmons, Aimpoint AB, Gamo Outdoor S.L.U., SAM ELECTRICAL EQUIPMENTS (NANTONG) CO., LTD., Nantong Universal Optical Instrument, SIG SAUER, and other.

This report segments the riflescope market as follows:

Global Riflescope Market: By Type 

• Telescopic Sight
• Reflex Sight

Global Riflescope Market: By Technology 

• Electro-Optic/IR
• Thermal Imaging
• Laser

Global Riflescope Market: By Application 

• Hunting
• Armed Forces
• Shooting Sports

Global Riflescope Market: By Region

• North America
  • The U.S.
  • Canada
• Europe
  • Germany
  • The UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of the Middle East & Africa

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