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

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

Sport Optics includes various products, such as monoculars, binoculars, rifle scopes and rangefinders. More specifically, these are instruments composed of specific photo-translucent or photo-reactive elements that interact with the light passing through them, are used in the field and are man transportable.

Sport Optics includes various products, such as monoculars, binoculars, rifle scopes and rangefinders. More specifically, these are instruments composed of specific photo-translucent or photo-reactive elements that interact with the light passing through them, are used in the field and are man transportable.

Market Overview:

The latest research study on the global Sports Optics market finds that the global Sports Optics market reached a value of USD 2132.92 million in 2022. It’s expected that the market will achieve USD 2653.98 million by 2028, exhibiting a CAGR of 3.71% during the forecast period.

Affect the normal operation of the industry

The raging COVID-19 has plunged the global economic environment into depression. The influence of COVID-19 on sports optics industry will involve all major links and entities in the industrial chain. The management efficiency of the company declined, commuting was hindered, production plans were hindered, and the company's development strategy and marketing methods were forced to adjust. In addition, during the COVID-19 period, the logistics speed slowed down or even stopped, and the supply of raw materials for sports optics production was tight. The company's production is limited to some extent, and the production of related enterprises in the hardest hit areas is greatly affected. After the epidemic is over, it will also face the financial pressure of rising costs caused by the shortage of raw materials.

Affect product export

COVID-19 has a certain impact on the operation of sports optics industry, especially on small and medium-sized enterprises. COVID-19 aggravates the shortage of funds for small and medium-sized enterprises and reduces the solvency of companies. Some small and medium-sized enterprises are in trouble or even go bankrupt. The epidemic may cause some small and medium-sized enterprises to withdraw from the market, thus increasing market concentration. Large enterprises with high anti-risk ability and good ability to cope with epidemic situation will occupy more market share. Some small businesses may be merged and acquired.

Development of outdoor sports market

Outdoor sports have the dual attributes of sports and tourism and leisure, and are deeply loved by contemporary people. In recent years, the popularity of outdoor travel, camping and bird watching has been increasing. Bird watching activities are prevalent all over the world, and many birdwatchers' life goal is to continuously increase the number of individual bird sightings. At present, there are five large bird watching companies in Britain, the most famous of which is a company called Bird Quest. Now this company organizes more than 80 bird watching tour teams to take enthusiasts to bird watching destinations around the world every year. The increase of people's outdoor activities drives the market growth of Sports Optics.

Shooting sport development

Shooting sports can help build many physical disciplines that are not only healthy but enjoyable. Increased strength, stamina, hand-eye coordination, and fine motor skills are just a few of the physical disciplines acquired in the shooting sports that apply, not only to this sport, but to all of life. Shooting can also enhance people's concentration, psychological quality and body balance. There are various shooting activities such as hunting, target shooting, and field shooting, among others which is seeing an increase in participation globally. Shooting sports are promoted in different sports events such as the Olympics etc. Moreover, organizations such as USA Shooting, United States Practical Shooting Association, China Practical Shooting Association, and British Association for Shooting and Conservation (BASC), among others, are continuously promoting the shooting sports. Shooting development drives sports optics market.

Region Overview:

In 2022, the share of the Sports Optics market in North America stood at 43.91%.

Company Overview:

Swarovski Optik is one of the major players operating in the Sports Optics market, holding a share of 9.43% in 2022.

Swarovski Optik

Swarovski Optik is a company that engages in the development and manufacture of premium long-range optical instruments. Its products include binoculars, rifle scopes, spotting scopes, gear, and accessories for hunting, outdoor, and birding activities.

Bushnell Corporation

Bushnell Inc. designs and manufactures sports optics and outdoor accessories. The Company offers binoculars, riflescopes, trail cameras, spotting scopes, and laser rangefinders for hunting, tactical, wildlife, spectator, and golf applications.

Segmentation Overview:

By type, Binoculars segment accounted for the largest share of market in 2022.

Monoculars

A monocular is a compact refracting telescope used to magnify images of distant objects, typically using an optical prism to ensure an erect image, instead of using relay lenses like most telescopic sights. The volume and weight of a monocular are typically less than half of a pair of binoculars with similar optical properties, making it more portable and also less expensive. Monoculars are ideally suited to those application where three-dimensional perception is not needed, or where compactness and low weight are important (e.g., hiking). Monoculars are also sometimes preferred where difficulties occur using both eyes through binoculars due to significant eyesight variation (e.g., strabismus, anisometropia or astigmatism) or unilateral visual impairment (due to amblyopia, cataract or corneal ulceration).

Binoculars

Binoculars, optical instrument, usually handheld, for providing a magnified stereoscopic view of distant objects. It consists of two similar telescopes, one for each eye, mounted on a single frame. A single thumbwheel may control the focus of both telescopes simultaneously, and provision may be made for adjusting the focus of each separately to allow for varying characteristics in the two eyes.

Rifle Scopes

Rifle Scopes are devices that contain a series of lenses used for magnification and some type of reticle, an aiming instrument that indicates where your bullet should impact.

Rangefinders

Rangefinders can be used to monitor or measure distances or object lengths. They can also provide positional locations over long distances, e.g., several kilometers, without physically touching the observed object. The range finders are regularly used in geodesy, sports, hunting or military.

Application Overview:

The market's largest segment by application is the segment Shooting Sports (include hunting), with a market share of 53.61% in 2022.

Golf

Golf is a club-and-ball sport in which players use various clubs to hit balls into a series of holes on a course in as few strokes as possible.

Wheel Sport

Wheel Sport mainly refers to sports such as bicycles or motorcycles. Snow Sport Snow Sport refers to competitive or non-competitive entertainment activities on snow. Common individual sports include cross-country skiing, alpine skiing, snowboarding, ski jumping, ski orienteering and snowmobiling.

Water Sport

Water sports refers to all kinds of sports competitions and activities in which the whole process or main process is underwater, on the water or on the water.

Shooting Sports (include hunting)

Shooting sports is a group of competitive and recreational sporting activities involving proficiency tests of accuracy, precision and speed in shooting, mainly referring to man-portable guns (firearms and air guns, in forms such as handguns, rifles and shotguns) and bows/crossbows.

Outdoor

Outdoor sports usually include outdoor travel, camping, bird watching and other activities to experience nature.

Key Companies in the global Sports Optics market covered in Chapter 3:

Trijicon
Celestron, LLC
Carl Zeiss AG
Nikon Corporation
Leica Camera AG
Vortex Optics
Bushnell Corporation
Burris Optics
American Technologies Network Corporation
Karl Kaps GmbH & Co. KG
Fujifilm Holdings Corporation
Swarovski Optik

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

Monoculars
Binoculars
Rifle Scopes
Rangefinders
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Sports Optics market from 2018 to 2029 covers:

Golf
Wheel Sport
Snow Sport
Water Sport
Shooting Sports (include hunting)
Outdoor
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)