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Riflescopes Market

Global Riflescopes Market Size, Share, Growth, Trends: By Sight Type: Telescopic, Reflex; By Technology: Electro Optic, Thermal Imaging, Laser; By Application: Hunting, Armed Forces, Shooting Sports; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand; Competitive Landscape; 2024-2032

Global Riflescopes Market Outlook

The global riflescopes market reached a value of about USD 6.75 billion in 2023. The industry is further expected to grow at a CAGR of about 5.3% in the forecast period of 2024-2032 to reach a value of around USD 10.70 billion by 2032.

 

North America and Asia Pacific to be Significant Regional Markets for Riflescopes

North America currently dominates the riflescopes market, and this trend is likely to continue during the forecast period of 2024-2032 due to the increasing usage of new military weaponry to bolster the defence sector. In the forecasted timeframe, increased expenditure by the United States military and the deployment of contemporary battle equipment in the country are likely to promote regional market growth. Also, the presence of significant defence equipment manufacturers in the region, combined with strong demand from domestic consumers, is projected to fuel the market expansion.

 

Global Riflescopes Market

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On the other hand, the Asia Pacific region is expected to dominate the market during the forecast period due to the increasing prevalence of terrorism and terrorist activities and the rise in demand from the leading armed forces of China, India, Japan, and North Korea. One of the strongest growth factors for the riflescopes industry in the Asia Pacific is China's increased defence budget. A high domestic production base and increased consumption of assault and sniper rifles by its defence sector are expected to drive the market growth for riflescopes in China.

 

Riflescopes Market Segmentation

Riflescopes are telescopic vision devices installed on the rifle's top. The primary purpose of using riflescopes is to improve one's aim and precision. Riflescopes are employed because of their magnification ability, which allows the human eye to see a clearer image. Riflescopes increase public safety by displaying precise aim to the naked eye. Riflescopes vary in weight depending on their modality and are typically used for long ranges.

 

Global Riflescopes Market

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By sight type, the market is divided into:

  • Telescopic
  • Reflex

Based on technology, the market includes:

  • Electro Optic
  • Thermal Imaging
  • Laser

The leading application of the product includes:

  • Hunting
  • Armed Forces
  • Shooting Sports

The regional markets for riflescopes industry can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Rising Demand for Precision Attack Technologies Boosting the Market Growth

The global market for riflescopes has increased as the demand for precision attack technology has increased. Riflescopes is expected to benefit from rising technical advances and improvements, which will provide profitable growth prospects for the industry. Other technological advances, such as integration with night vision goggles and riflescopes for smart rifles, are expected to spur the development of new and more technologically advanced riflescopes. The rising demand for advanced hunting equipment, coupled with the increased popularity of hunting and shooting sports is also augmenting the riflescopes market growth. The growing availability of more technologically advanced riflescope with thermal imaging will further induce growth in the demand for riflescopes. Increased spending by the government on the defence and military sector will also propel growth in the demand for riflescopes. The growth of the riflescopes market can be attributed to rising cross-border conflicts and terrorist activities, and increased spending on defence and military equipment. 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.

 

Global Riflescopes Market

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Key Industry Players in the Global Riflescopes Market

The report gives a detailed analysis of the following key players in the global riflescopes market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Leupold and Stevens, Inc.
  • Bushnell
  • Burris Company
  • Nikon Corporation
  • Navistar, Inc.
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Sight Type
  • Technology
  • Application
  • Region
Breakup by Sight Type
  • Telescopic
  • Reflex
Breakup by Technology
  • Electro Optic
  • Thermal Imaging
  • Laser
Breakup by Application
  • Hunting
  • Armed Forces
  • Shooting Sports
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Leupold and Stevens, Inc.
  • Bushnell
  • Burris Company
  • Nikon Corporation
  • Navistar, Inc.
  • Others
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.

1    Preface  
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Riflescopes Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Riflescopes Historical Market (2018-2023) 
    8.3    Global Riflescopes Market Forecast (2024-2032)
    8.4    Global Riflescopes Market by Sight Type
        8.4.1    Telescopic
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Reflex
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
    8.5    Global Riflescopes Market by Technology
        8.5.1    Electro Optic
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Thermal Imaging
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Laser
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
    8.6    Global Riflescopes Market by Application
        8.6.1    Hunting
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Armed Forces
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Shooting Sports
            8.6.3.1    Historical Trend (2018-2023)
            8.6.3.2    Forecast Trend (2024-2032)    
    8.7    Global Riflescopes Market by Region
        8.7.1    North America
            8.7.1.1    Historical Trend (2018-2023) 
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Europe
            8.7.2.1    Historical Trend (2018-2023) 
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Asia Pacific
            8.7.3.1    Historical Trend (2018-2023) 
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Latin America
            8.7.4.1    Historical Trend (2018-2023) 
            8.7.4.2    Forecast Trend (2024-2032)
        8.7.5    Middle East and Africa
            8.7.5.1    Historical Trend (2018-2023) 
            8.7.5.2    Forecast Trend (2024-2032)
9    North America Riflescopes Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Riflescopes Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Riflescopes Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Riflescopes Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Riflescopes Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive Landscape

    16.1    Market Structure
    16.2    Company Profiles
        16.2.1     Leupold and Stevens, Inc.
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    Bushnell
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    Burris Company
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    Nikon Corporation
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5     Navistar, Inc.
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Others
17    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Riflescopes Market: Key Industry Highlights, 2018 and 2032
2.    Global Riflescopes Historical Market: Breakup by Sight Type (USD Million), 2018-2023
3.    Global Riflescopes Market Forecast: Breakup by Sight Type (USD Million), 2024-2032
4.    Global Riflescopes Historical Market: Breakup by Technology (USD Million), 2018-2023
5.    Global Riflescopes Market Forecast: Breakup by Technology (USD Million), 2024-2032
6.    Global Riflescopes Historical Market: Breakup by Application (USD Million), 2018-2023
7.    Global Riflescopes Market Forecast: Breakup by Application (USD Million), 2024-2032
8.    Global Riflescopes Historical Market: Breakup by Region (USD Million), 2018-2023
9.    Global Riflescopes Market Forecast: Breakup by Region (USD Million), 2024-2032
10.    North America Riflescopes Historical Market: Breakup by Country (USD Million), 2018-2023
11.    North America Riflescopes Market Forecast: Breakup by Country (USD Million), 2024-2032
12.    Europe Riflescopes Historical Market: Breakup by Country (USD Million), 2018-2023
13.    Europe Riflescopes Market Forecast: Breakup by Country (USD Million), 2024-2032
14.    Asia Pacific Riflescopes Historical Market: Breakup by Country (USD Million), 2018-2023
15.    Asia Pacific Riflescopes Market Forecast: Breakup by Country (USD Million), 2024-2032
16.    Latin America Riflescopes Historical Market: Breakup by Country (USD Million), 2018-2023
17.    Latin America Riflescopes Market Forecast: Breakup by Country (USD Million), 2024-2032
18.    Middle East and Africa Riflescopes Historical Market: Breakup by Country (USD Million), 2018-2023
19.    Middle East and Africa Riflescopes Market Forecast: Breakup by Country (USD Million), 2024-2032
20.    North America Historical Price Trends and Forecast 2018-2028
21.    Europe Historical Price Trends and Forecast 2018-2028
22.    Asia Pacific Historical Price Trends and Forecast 2018-2028
23.    Latin America Historical Price Trends and Forecast 2018-2028
24.    Middle East and Africa Historical Price Trends and Forecast 2018-2028
25.    Major Exporting Countries by Value
26.    Major Importing Countries by Value
27.    Major Exporting Countries by Volume
28.    Major Importing Countries by Volume
29.    Global Riflescopes Market Structure

Key Questions Answered in the Report

In 2023, the global riflescopes market attained a value of nearly USD 6.75 billion.

The market is projected to grow at a CAGR of 5.3% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 10.70 billion by 2032.

The major market drivers include the surging prevalence of terrorism and terrorist activities, rising demand for advanced hunting equipment, and increasing spending by the government on the defence and military sector.

The rise in demand for riflescopes from the leading armed forces, surging demand for precision attack technology, and technological advancements and innovations are the key trends propelling the market growth.

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The major sight types included in the market report are telescopic and reflex.

Electro optic, thermal imaging, and laser are the various technologies considered in the market report.

Hunting, armed forces, and shooting sports are the different applications of the product.

The major players in the market are Leupold and Stevens, Inc., Bushnell, Burris Company, Nikon Corporation, and Navistar, Inc., among others.

Analyst Review

The global riflescopes market attained a value of USD 6.75 billion in 2023, driven by the increasing demand for precision attack technology. Aided by the increased spending by the government on the defence and military sector and technological advancements, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 5.3%. The market is projected to reach USD 10.70 billion by 2032.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. 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 leading application of the market includes hunting, armed forces, and shooting sports. The major regional markets for riflescopes are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market are Leupold and Stevens, Inc., Bushnell, Burris Company, Nikon Corporation, and Navistar, Inc., among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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