Riflescope Market is projected to reach USD 6.29 Billion by 2027 at a CAGR of approximately 3.41% from 2021 to 2027.
Riflescope is a fragmented industry with a variety of manufacturers ranging from large multinational corporations to small privately-owned companies. The top three producers account for 18.36% of the market in terms of revenue. Most companies involved in this industry are professional manufacturers of riflescopes and binocular with no other major products, while some players are well-known lens producers that supply high-quality products, such as Nikon and Zeiss.
The riflescope is driven by several factors, among which the most crucial ones are hunting, shooting sports, and armed forces. Hunting is the major application of riflescope, which accounted for 24.4%. of world riflescope consumption in 2016 in terms of volume. Shooting sports and hunting have emerged to be a fast-growing market of riflescope in developed countries.
The demand for the global riflescope market is expected to boost the growth in various end-user industries in the Asia-Pacific region. An increase in the use of telescopic screening in different applications such as hunting and military is the key factor that boosts the growth of the global riflescope market during the forecast period. In addition, a new rifle has been introduced with an in-built laser range finder to ensure accuracy. It also includes a riflescope with a color graphics display. Similarly, more such innovative technologies are being introduced in the riflescope. In addition, manufacturers are also developing smart shooting solutions with increased riflescope magnification, smart rangefinder, and GPS geotagging. However, the high cost of riflescopes and the ban on hunting in some countries of the Asia-Pacific region are the major factors restraining the growth of the riflescope market. Demand for highly precise strikes in the army is expected to boost the growth of the riflescope market.
October 20, 2021: ZEISS Introduces New Generation of the V8 Riflescope Family- ZEISS is presenting its new generation of the V8 riflescope family with four new high-performance models. These all feature a center tube diameter of 30/34 mm, exceptional optical performance, an extra-large eye box, and a particularly fine illuminated dot, thereby offering innovative features for successful hunting. “Our ZEISS V8 riflescopes deliver optics for the highest demands, packaged in an elegant design. That makes the four models ideal companions for any hunting situation,” said Björn Pados, Product Manager for Hunting at ZEISS.
28-Jun-2019: Swarovski launches new riflescope- Austrian optics manufacturer Swarovski has launched a new all-round riflescope to add to its Z8i line. Aimed at the Hunter who might be shooting long-range one day and at close quarters the next, the new scope has an incredible magnification. The 3.5-28×50 scope keeps its weight down with an objective lens that’s smaller than usual for a pure long-range scope. But in the mountains, you will thank it for its 665g weight.
Riflescope Market is segmented based on the type, applications, companies and regions.
By Type, Riflescope Market has been segmented into
By Application, Riflescope Market has been segmented into
The report offers in-depth assessment of the growth and other aspects of the Riflescope Market in important regions, including the U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, Taiwan, Southeast Asia, Mexico, and Brazil, etc. Key regions covered in the report are North America, Europe, Asia-Pacific and Latin America.
North America dominated the global market in 2019 with a share of more than 33.0%, and it is likely to increase significantly in the next years. In the forecasted timeframe, increased military investment and the use of advanced battle equipment in the United States are likely to promote regional market growth. The United States was the greatest consumer of items in North America in 2019. Developments in defence research operations, as well as an increasing number of military bases around the world, are predicted to boost demand for rifles and weapons, resulting in market expansion.
Europe emerged as the second-largest consumer of the products owing to the high acceptance of technologically advanced equipment by the armed forces. The United Kingdom, Germany, France, and Russia, among others, are major players in the region. The presence of major defence equipment manufacturers in the region, together with strong demand from domestic customers, is projected to fuel market expansion. Due to increased demand from the main armed forces of China, India, Japan, and North Korea, Asia Pacific is predicted to grow at the quickest CAGR of 6.2 percent throughout the projection period. Furthermore, the increase in terrorist activities along the Indian and Afghan borders, as well as the growing popularity of shooting games in the region, are expected to boost the market.
Report Attributes | Report Details |
Forecast Period 2022 to 2027 CAGR | CAGR of 3.41% over the forecast period (2022-2027) |
By Type |
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By Application |
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By Companies | Bushnell, Leupold, Burris, Nikon, Schmidt-Bender, WALTHER, Hawke Optics, Nightforce, BSA, Hensoldt, Vortex Optics, Barska, Aimpoint, LEAPERS, Tasco, Swarovski, Weaveroptics, Meopta, Gamo, Millett, Zeiss, Sightron, Simmons, Sightmark, Norinco Group, Sam Electrical Equipments, Nantong Universal Optical Instrument, Ntans, Holosun, SIG |
Regions Covered |
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Countries Covered |
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Base Year | 2022 |
Historical Year | 2017 to 2021 |
Forecast Year | 2022 to 2027 |
Number of Pages | 133 |
Customization Available | Yes, the report can be customized as per your needs |
What is the growth rate of Riflescope Market?
The Riflescope Market is growing at a CAGR of 3.41% over the next 5 years.
Who are the key players in Riflescope Market?
Bushnell, Leupold, Burris, Nikon, Schmidt-Bender, WALTHER, Hawke Optics, Nightforce, BSA, Hensoldt, Vortex Optics, Barska, Aimpoint, LEAPERS, Tasco, Swarovski, Weaveroptics, Meopta, Gamo, Millett, Zeiss, Sightron, Simmons, Sightmark, Norinco Group, Sam Electrical Equipments, Nantong Universal Optical Instrument, Ntans, Holosun, SIG
What are the significant types of Riflescope Market?
Telescopic Sight, Collimating Optical Sight, Reflex Sight
What are the major end-use applications of Riflescope Market?
Hunting, Shooting Sports, Armed Forces
All our reports are customizable to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
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