Riflescopes Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Riflescopes Market
The riflescopes market size was valued at USD 750.9 million in 2020, and the market is now projected to grow from USD 765.9 million in 2021 to USD 1193.6 million by 2028, exhibiting a CAGR of 6.54% during the forecast period of 2021-2028.
The COVID-19 pandemic made significant effects on the overall economy around the world and destabilized companies as delivery chains were disturbed, and manufacturing was stopped. This led to less growth in the Defense industry, where weapon acquisition needs had been lowered, and the import/export of weapons were on the decline. Thus, it became possible negatively influencing the making of production schedules and other processes of the defence industry. Still, recovery efforts are expected when restrictions get lifted.
The increasing popularity of shooting sports and hunting primarily in the United States is an excellent driving force behind the rifle scopes market. The groups may embrace the USA Shooting and the National Shooting Sports Foundation which encourage the youth in the sporting disciplines. To support this demand, there are over 600 shooting ranges across the U.S. including archery facilities, firearms, and combination. Such advances are anticipated to enhance the growth of the rifle scopes market as well soon.
Some of the new items in this category include rifles and advanced scopes that are in high demand due to their use in military use and hunting. Night vision scopes are emerging in the market because they give clear vision in low light, a larger perspective vision and more battery backup. These scopes are more robust and dependable and specifically perform well during extreme weather situations. Hence there is a trend showing increasing demand of Night Sights/Inversion in firearms.
Comprehensive Analysis of Riflescopes market
The riflescopes market growth is rising at an exponential rate due to its market segmentation. This market expansion rightly provides a thorough market breakdown near to the industry considering the leading supply and demand forces. These segmentations are methodically segregated by magnification analysis, by sight type analysis, and by end-use analysis. By magnification analysis include 1-8X, 8-15X, and greater than 15X. By sight type analysis include telescopic and reflective. By end-use analysis include commercial and defense.
The North America region lead the riflescopes market share by benefitting a market size of USD 306.3 million in 2020 due to the highest defense expenditure.
The top players in the markets have a central responsibility in the aerospace & defence industry to be sure of industrial prospectus development and to establish the market norms. These players include, Aimpoint, ATN Corporation, Burris Company, Bushnell, LEUPOLD & STEVENS, INC., HENSOLDT AG, NIGHTFORCE OPTICS, Schmidt & Bender GmbH & Co. KG, SIG SAUER, Trijicon, Inc., Vortex Optics, ZEISS Group these market players provide a level-playing competitive landscape.
In March 2021, the U.S. Army signed a five-year, USD 50 million contract with Barrett Firearms Manufacturing Inc. for 2,800 MK22 sniper rifles, equipped with Leupold & Stevens Mark 5 HD scopes.
Segmentation Table
ATTRIBUTE
DETAILS
Study Period
2017-2028
Base Year
2020
Estimated Year
2021
Forecast Period
2021-2028
Historical Period
2017-2019
Unit
Value (USD million)
Segmentation
Magnification; Sight Type; Application; End Use, and Geography
By Magnification
1-8X
8-15X
Greater than 15X
By Sight Type
Telescopic
Reflective
By End-Use
Commercial
Defense
By Geography
North America (Magnification; Sight Type; Application; End Use, and Country)
- U.S. (By Magnification)
- Canada (By Magnification)
- U.K. (By Magnification)
- Germany (By Magnification)
- France (By Magnification)
- Russia (By Magnification)
- Rest of Europe (By Magnification)
- China (By Magnification)
- India (By Magnification)
- Japan (By Magnification)
- South Korea (By Magnification)
- Rest of Asia Pacific (By Magnification)
- The Middle East & Africa (By Magnification)
- Latin America (By Magnification)
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Industry Developments –Mergers, Acquisitions and Partnerships
- 4.2. Latest technological Advancements
- 4.3. Porters Five Forces Analysis
- 4.4. Supply Chain Analysis
- 5. Quantitative Insights- Impact of COVID-19 Pandemic on Rifle Scopes Market
- 5.1. Impact of COVID-19 on Global Rifle Scopes Market
- 5.2. Steps Taken by Industry/Companies/Governments to Overcome the Impact
- 5.3. Potential Opportunities Due to COVID-19 Outbreak
- 6. Global Rifle Scopes Market Analysis, Insights and Forecast, 2017-2028
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Magnification
- 6.2.1. 1-8X
- 6.2.2. 8-15X
- 6.2.3. Greater than 15X
- 6.3. Market Analysis, Insights and Forecast – By Sight Type
- 6.3.1. Telescopic
- 6.3.2. Reflective
- 6.4. Market Analysis, Insights and Forecast – By End Use
- 6.4.1. Commercial
- 6.4.2. Defense
- 6.5. Market Analysis, Insights and Forecast – By Region
- 6.5.1. North America
- 6.5.2. Europe
- 6.5.3. Asia pacific
- 6.5.4. Rest of the world
- 7. North America Rifle Scopes Market Analysis, Insights and Forecast, 2017-2028
- 7.1. Market Analysis, Insights and Forecast – By Magnification
- 7.1.1. 1-8X
- 7.1.2. 8-15X
- 7.1.3. Greater than 15X
- 7.2. Market Analysis, Insights and Forecast – By Sight Type
- 7.2.1. Telescopic
- 7.2.2. Reflective
- 7.3. Market Analysis, Insights and Forecast – By End Use
- 7.3.1. Commercial
- 7.3.2. Defense
- 7.4. Market Analysis – By Country
- 7.4.1. U.S.
- 7.4.1.1. Market Analysis, Insights and Forecast – By Magnification
- 7.4.1.1.1. 1-8X
- 7.4.1.1.2. 8-15X
- 7.4.1.1.3. Greater than 15X
- 7.4.2. Canada
- 7.4.2.1. Market Analysis, Insights and Forecast – By Magnification
- 7.4.2.1.1. 1-8X
- 7.4.2.1.2. 8-15X
- 7.4.2.1.3. Greater than 15X
- 8. Europe Rifle Scopes Market Analysis, Insights and Forecast, 2017-2028
- 8.1. Market Analysis, Insights and Forecast – By Magnification
- 8.1.1. 1-8X
- 8.1.2. 8-15X
- 8.1.3. Greater than 15X
- 8.2. Market Analysis, Insights and Forecast – By Sight Type
- 8.2.1. Telescopic
- 8.2.2. Reflective
- 8.3. Market Analysis, Insights and Forecast – By End Use
- 8.3.1. Commercial
- 8.3.2. Defense
- 8.4. Market Analysis – By Country
- 8.4.1. U.K
- 8.4.1.1. Market Analysis, Insights and Forecast – By Magnification
- 8.4.1.1.1. 1-8X
- 8.4.1.1.2. 8-15X
- 8.4.1.1.3. Greater than 15X
- 8.4.2. Germany
- 8.4.2.1. Market Analysis, Insights and Forecast – By Magnification
- 8.4.2.1.1. 1-8X
- 8.4.2.1.2. 8-15X
- 8.4.2.1.3. Greater than 15X
- 8.4.3. France
- 8.4.3.1. Market Analysis, Insights and Forecast – By Magnification
- 8.4.3.1.1. 1-8X
- 8.4.3.1.2. 8-15X
- 8.4.3.1.3. Greater than 15X
- 8.4.4. Russia
- 8.4.4.1. Market Analysis, Insights and Forecast – By Magnification
- 8.4.4.1.1. 1-8X
- 8.4.4.1.2. 8-15X
- 8.4.4.1.3. Greater than 15X
- 8.4.5. Rest of Europe
- 8.4.5.1. Market Analysis, Insights and Forecast – By Magnification
- 8.4.5.1.1. 1-8X
- 8.4.5.1.2. 8-15X
- 8.4.5.1.3. Greater than 15X
- 9. Asia Pacific Rifle Scopes Market Analysis, Insights and Forecast, 2017-2028
- 9.1. Market Analysis, Insights and Forecast – By Magnification
- 9.1.1. 1-8X
- 9.1.2. 8-15X
- 9.1.3. Greater than 15X
- 9.2. Market Analysis, Insights and Forecast – By Sight Type
- 9.2.1. Telescopic
- 9.2.2. Reflective
- 9.3. Market Analysis, Insights and Forecast – By End Use
- 9.3.1. Commercial
- 9.3.2. Defense
- 9.4. Market Analysis – By Country
- 9.4.1. China
- 9.4.1.1. Market Analysis, Insights and Forecast – By Magnification
- 9.4.1.1.1. 1-8X
- 9.4.1.1.2. 8-15X
- 9.4.1.1.3. Greater than 15X
- 9.4.2. India
- 9.4.2.1. Market Analysis, Insights and Forecast – By Magnification
- 9.4.2.1.1. 1-8X
- 9.4.2.1.2. 8-15X
- 9.4.2.1.3. Greater than 15X
- 9.4.3. Japan
- 9.4.3.1. Market Analysis, Insights and Forecast – By Magnification
- 9.4.3.1.1. 1-8X
- 9.4.3.1.2. 8-15X
- 9.4.3.1.3. Greater than 15X
- 9.4.4. South Korea
- 9.4.4.1. Market Analysis, Insights and Forecast – By Magnification
- 9.4.4.1.1. 1-8X
- 9.4.4.1.2. 8-15X
- 9.4.4.1.3. Greater than 15X
- 9.4.5. Rest of Asia Pacific
- 9.4.5.1. Market Analysis, Insights and Forecast – By Magnification
- 9.4.5.1.1. 1-8X
- 9.4.5.1.2. 8-15X
- 9.4.5.1.3. Greater than 15X
- 10. Rest of the World Rifle Scopes Market Analysis, Insights and Forecast, 2017-2028
- 10.1. Market Analysis, Insights and Forecast – By Magnification
- 10.1.1. 1-8X
- 10.1.2. 8-15X
- 10.1.3. Greater than 15X
- 10.2. Market Analysis, Insights and Forecast – By Sight Type
- 10.2.1. Telescopic
- 10.2.2. Reflective
- 10.3. Market Analysis, Insights and Forecast – By End Use
- 10.3.1. Commercial
- 10.3.2. Defense
- 10.4. Market Analysis – By Sub-Region
- 10.4.1. The Middle East & Africa
- 10.4.1.1. Market Analysis, Insights and Forecast – By Magnification
- 10.4.1.1.1. 1-8X
- 10.4.1.1.2. 8-15X
- 10.4.1.1.3. Greater than 15X
- 10.4.2. Latin America
- 10.4.2.1. Market Analysis, Insights and Forecast – By Magnification
- 10.4.2.1.1. 1-8X
- 10.4.2.1.2. 8-15X
- 10.4.2.1.3. Greater than 15X
- 11. Competitive Analysis
- 11.1. Global Market Share Analysis (2020)
- 11.2. Company Profiles (Overview, Products & services, SWOT analysis, Recent developments, strategies, financials (based on availability))
- 11.2.1. Aimpoint
- 11.2.1.1. Overview,
- 11.2.1.2. Products & services,
- 11.2.1.3. SWOT analysis,
- 11.2.1.4. Recent developments,
- 11.2.1.5. strategies,
- 11.2.1.6. financials (based on availability)
- 11.2.2. ATN Corporation
- 11.2.2.1. Overview,
- 11.2.2.2. Products & services,
- 11.2.2.3. SWOT analysis,
- 11.2.2.4. Recent developments,
- 11.2.2.5. strategies,
- 11.2.2.6. financials (based on availability)
- 11.2.3. Burris Company
- 11.2.3.1. Overview,
- 11.2.3.2. Products & services,
- 11.2.3.3. SWOT analysis,
- 11.2.3.4. Recent developments,
- 11.2.3.5. strategies,
- 11.2.3.6. financials (based on availability)
- 11.2.4. Bushnell
- 11.2.4.1. Overview,
- 11.2.4.2. Products & services,
- 11.2.4.3. SWOT analysis,
- 11.2.4.4. Recent developments,
- 11.2.4.5. strategies,
- 11.2.4.6. financials (based on availability)
- 11.2.5. EUPOLD & STEVENS, INC.
- 11.2.5.1. Overview,
- 11.2.5.2. Products & services,
- 11.2.5.3. SWOT analysis,
- 11.2.5.4. Recent developments,
- 11.2.5.5. strategies,
- 11.2.5.6. financials (based on availability)
- 11.2.6. HENSOLDT AG
- 11.2.6.1. Overview,
- 11.2.6.2. Products & services,
- 11.2.6.3. SWOT analysis,
- 11.2.6.4. Recent developments,
- 11.2.6.5. strategies,
- 11.2.6.6. financials (based on availability)
- 11.2.7. NIGHTFORCE OPTICS
- 11.2.7.1. Overview,
- 11.2.7.2. Products & services,
- 11.2.7.3. SWOT analysis,
- 11.2.7.4. Recent developments,
- 11.2.7.5. strategies,
- 11.2.7.6. financials (based on availability)
- 11.2.8. Schmidt & Bender GmbH & Co. KG
- 11.2.8.1. Overview,
- 11.2.8.2. Products & services,
- 11.2.8.3. SWOT analysis,
- 11.2.8.4. Recent developments,
- 11.2.8.5. strategies,
- 11.2.8.6. financials (based on availability)
- 11.2.9. SIG SAUER
- 11.2.9.1. Overview,
- 11.2.9.2. Products & services,
- 11.2.9.3. SWOT analysis,
- 11.2.9.4. Recent developments,
- 11.2.9.5. strategies,
- 11.2.9.6. financials (based on availability)
- 11.2.10. Trijicon, Inc.
- 11.2.10.1. Overview,
- 11.2.10.2. Products & services,
- 11.2.10.3. SWOT analysis,
- 11.2.10.4. Recent developments,
- 11.2.10.5. strategies,
- 11.2.10.6. financials (based on availability)
- 11.2.11. Vortex Optics
- 11.2.11.1. Overview,
- 11.2.11.2. Products & services,
- 11.2.11.3. SWOT analysis,
- 11.2.11.4. Recent developments,
- 11.2.11.5. strategies,
- 11.2.11.6. financials (based on availability)
- 11.2.12. ZEISS Group
- 11.2.12.1. Overview,
- 11.2.12.2. Products & services,
- 11.2.12.3. SWOT analysis,
- 11.2.12.4. Recent developments,
- 11.2.12.5. strategies,
- 11.2.12.6. financials (based on availability)
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