Global Precision Guided Firearm Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Precision Guided Firearm Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Precision guided firearms (PGFs) are long-range rifle systems designed to improve the accuracy of shooting at targets at extended ranges through target tracking, heads-up display and advanced fire control.

Market Overview:

The latest research study on the global Precision Guided Firearm market finds that the global Precision Guided Firearm market reached a value of USD 29.37 million in 2022. It’s expected that the market will achieve USD 1422.45 million by 2028, exhibiting a CAGR of 90.92% during the forecast period.

Assessment of the Overall Impact of COVID-19 on the Industry

The massive spread of COVID-19 has forced the government to intervene. People will also reduce travel and consumption for health reasons, and companies will postpone their operations. This will seriously affect the national economy, especially the tertiary and secondary industries. The precision guided firearm industry is one of the most vulnerable industries affected by the COVID-19 economic blockade. The longer the on-site asylum order takes effect, the longer it will take for businesses and consumers to restart and resume normal activities.

Affected by COVID-19, most companies selling precision guided firearm have changed their working hours or services. As the epidemic worsens, North American cross-border logistics services and flights have been affected to a certain extent, so transportation has become a major issue. Therefore, in the short term, the precision guided firearm industry will be affected by COVID-19.

Company Overview:

TrackingPoint (Talon Precision Optics) is one of the major players operating in the Precision Guided Firearm market, holding a share of 31.65% in 2021.

TrackingPoint (Talon Precision Optics)

Developer of a revolutionary technology intended to provide precision guided firearms, ammunitions and weapons. TrackingPoint (Talon Precision Optics)' technology creates Precision-Guided Firearm, an advanced new shooting system that puts fighter jet lock-and-launch technology in small arms, enabling shooters to make shots previously considered beyond human ability.

Smart Shooter was established to develop innovative technologies that help military and law enforcement professionals swiftly and accurately neutralize their targets. The company’s technology combines electro-optics, image processing, real-time embedded software, ergonomics, and system engineering to provide real and affordable solutions for modern symmetric and asymmetric conflicts.

Segmentation Overview:

Among different product types, Semi-automatic Systems segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Military segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Precision Guided Firearm market covered in Chapter 3:

TrackingPoint (Talon Precision Optics)
Smart Shooter

In Chapter 4 and Chapter 14.2, on the basis of types, the Precision Guided Firearm market from 2018 to 2029 is primarily split into:

Bolt-action Systems
Semi-automatic Systems

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Precision Guided Firearm market from 2018 to 2029 covers:

Sport Shooting Competitions
Military
Hunting
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)