Press Release

As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.

Global Riflescopes Market to Reach USD 7.90 Billion by 2026, Aided by the Rising Demand for Precision Attack Technologies

According to a new report by EMR titled, ‘Global Riflescopes Market Report and Forecast 2021-2026’, the global riflescopes market attained a value of about USD 5.80 billion in 2020. The industry is further expected to grow at a CAGR of 5.2% in the forecast period of 2021-2026 to reach a value of USD 7.90 by 2026.

An increasing number of people showing interest in shooting sports and a rise in new product development with innovative technology by manufacturers are some of the trends driving the demand for riflescope. New and technologically advanced riflescopes are projected to emerge as a result of technical advancements, such as integration with night vision goggles and riflescopes for smart firearms. Rising demand for precision attack technologies has resulted in growth in the demand for riflescopes globally. Also, the increased need for precision aiming at long distances and in a variety of lighting conditions is likely to provide chances for market competitors to further enhance riflescopes. Developing countries, in particular, are replacing their armed forces' conventional rifles with new assault rifles equipped with advanced riflescopes. For example, India declared in June 2019 that it plans to produce 650,000 AK-203 assault rifles with new riflescopes, fueling the rise of riflescopes. The expansion of the riflescopes market is projected to be aided by an increase in the number of military facilities established by major defence organisations throughout the world, which is predicted to boost the inventory of rifles and other weaponry. Unstable political relations between large geographies, combined with an increase in terrorist acts, have boosted demand for long-range and short-range weapons to combat the conditions.

To grow the business, key players are using a variety of conventional methods such as collaborations, increased manufacturing capacity, and regional development. These companies are pursuing contracts with the world's biggest military and developing customised scopes for use on custom-made firearms and rifles. For instance, Leupold & Stevens, Inc., in collaboration with Aimpoint, has been granted a USD 42.8 million military optics contract to produce Mark 6 riflescopes and Mark 6 riflescope-integrated mounting systems. This contract will serve as the foundation for the next generation of integrated optical aiming systems for modern small weapons.

Market Analysis by Sight Type, Technology, Application, and Regions:

  • Based on sight type, the market is categorised into telescopic and reflex.
  • On the basis of technology, the market is divided into electro optic, thermal imaging, and laser.
  • The applications of the product include hunting, armed forces, and shooting sports.
  • The regional markets for riflescopes include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • Increased spending by the government on the defence and military sector will also propel the demand for riflescopes.
  • The rising global investments in the procurement of advanced automatic weapons to replace the old and conventional weapons is another factor that is expected to fuel the growth of the riflescope market.
  • The increasing usage of new military weaponry to bolster the defence sector will augment the market growth.
  • Increased consumption of assault and sniper rifles by its defence sector are expected to drive the market growth for riflescopes.

Key Offerings of the report:

  • The EMR report gives an overview of the global riflescopes market for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecasted (2021-2026) markets for sight type, technology, application, and major regions of riflescopes.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.
  • The major players in the global riflescopes market are Leupold and Stevens, Inc., Bushnell, Burris Company, Nikon Corporation, and Navistar, Inc., among others.

The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

Contact Us:

Expert Market Research
Website: www.expertmarketresearch.com
Email: sales@expertmarketresearch.com
US & Canada Phone no: +1-415-325-5166
UK Phone no: +44-702-402-5790

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

Why Expert Market Research?

RIGHT PEOPLE

We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.

RIGHT METHODOLOGY

We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.

RIGHT PRICE

We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.

RIGHT SUPPORT

Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.

Similar Reports

Global LiDAR Drone Market Report and Forecast 2022-2027


Global Small Drones Market Report and Forecast 2022-2027





NEWSLETTER