Riflescopes Market: By Technology, By Sight Type, By Range, By Application, and Geography
Riflescopes Market: By Technology, By Sight Type, By Range, By Application, and Geography
Riflescopes Market size was valued at US$ 5,372.5 million in 2022 and is expanded to grow at a significant CAGR of 4.5% from 2023-2029. The growing demand for hunting and shooting activities, as well as technological developments in precision attacks, are likely to propel the riflescopes sector forward. However, the market has a barrier in the form of high riflescope costs. Military modernization contracts provide numerous potentials for manufacturers to earn significant market share. The army's demand for exact strikes is projected to drive the riflescope market forward. Over the last decade, military optical technology has advanced, particularly in telescopic sights. Telescopic sights have allowed militaries to fire precise shots over longer distances than they could with regular infantry weapons. Factors such as rising demand for firearms for shooting sports and hunting and rising shooting ranges worldwide will boost the riflescopes market growth during the forecast period. Various new capabilities are being added to riflescopes to make it easier to aim and shoot. The telescopic segment is anticipated to grow at the fastest CAGR from 2022 to 2028, based on sight type. Telescopic sights are optical telescopes that are equipped with several types of graphic image pattern reticles to provide an exact aiming point. Because of the existing and growing demand for hunting applications, telescopic riflescopes are likely to have a larger market share than reflex riflescopes.
Study Period
2024-2030Base Year
2023CAGR
4.5%Largest Market
Asia PacificFastest Growing Market
North-America
Technology advances, such as integration with night vision goggles and riflescopes for innovative rifles, are projected to spur the creation of new and more technologically advanced riflescopes. However, factors such as mass shootings, major gun restrictions, and strict anti-shooting legislation stifle the market's growth to some extent. Acquisition costs, scope swapping, and optical aberrations have posed barriers to the worldwide riflescope market's expansion.
The Asia Pacific riflescopes market is anticipated to grow at the highest CAGR from 2022 to 2028. This regional market research looks at countries including China, India, Japan, and South Korea. One of the most significant growth factors for the riflescopes business in China is the country's expanding defense spending. The domestic production base and increased use of attack and spy rifles by China's defense industry are projected to drive the riflescope market. Furthermore, due to advancements in defense research activities, an expanding number of military facilities, and increased demand for rifles and weapons, North America is predicted to have the second-highest share.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2022 |
US$ 5,372.5 million |
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Market CAGR |
4.5% |
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By Technology |
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By Sight Type |
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By Range |
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By Application |
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The riflescopes market size was valued at US$ 5,372.5 million in 2022.
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.
Key Market Players
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