Sniper Rifle Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Sniper Rifle Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global sniper rifle market size reached US$ 2.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.9 Billion by 2028, exhibiting a growth rate (CAGR) of 5.38% during 2023-2028.

A sniper rifle is a portable, long-range, high precision shoulder ammunition equipped with night-vision and telescopic sight devices, which help in visual aiming by magnifying targets. It also comprises a lightweight bolt carrier, spiked feet, back view extended monopod, rear grip, detachable muzzle brake, adjustable scope rings, bipod, socket, and spiked feet as standard components. Unlike conventional guns or pistols, sniper rifles can possess bullets for a longer duration in barrels and shoot with much higher velocity and accuracy while absorbing the recoil produced through firing. Apart from this, it is stable, quick, flexible, and capable of destroying light armored vehicles and aircraft. Consequently, the sniper rifle is used to provide detailed surveillance from concealed positions and neutralize high-value targets to mitigate combat. Currently, it is mainly available in long-range precision and bolt-action rifle types with different ranges.

Sniper Rifle Market Trends:
The increasing terrorist attacks and geopolitical tensions across borders have prompted the military and defense sector to widely adopt advanced ammunitions, such as sniper rifles, over exiting obsolete warfare equipment to protect civilians, which is primarily driving the market growth. In line with this, the growing military expenditure, the escalating need to strengthen military bases, and various government initiatives toward modernizing armed forces are also supplementing the demand for sniper rifles in the market. This is further influenced by the fueling number of arms imports and export activities across the globe to maintain a sufficient amount of weapons and ammunition. Additionally, the advent of technologically advanced sniper rifles with efficient bullet loading capacities, automatic steering facilities, and increased range and accuracy to demolish rival targets is contributing to the market growth. Apart from this, the extensive uptake of the sniper rifle in sports shooting and the ongoing procurement of the product in terms of engagement profile, topography on battlefields, and the number of sniper squadrons are positively augmenting the market growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global sniper rifle market report, along with forecasts at the global, regional and country level from 2023-2028 Our report has categorized the market based on type, range and application.

Breakup by Type:

Bolt-Action
Semi-Automatic Action

Breakup by Range:

Up to 1,000 meters
Beyond 1,000 meters

Breakup by Application:

Civilian
Law Enforcement
Military

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Accuracy International, B&T AG, FN Herstal, H&K AG (Compagnie De Developpement De L'Eau S.A.), Knights Armament Co, PGM Precision, PGW Defence Technology Inc., Savage Arms Inc., SNT Motiv Co. Ltd., Strategic Armory Corps and Zastava Arms USA.

Key Questions Answered in This Report:


How has the global sniper rifle market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global sniper rifle market?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the range?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global sniper rifle market and who are the key players?
What is the degree of competition in the industry?