Rifle Scopes Market will reach at $ 13.43 billion by 2032 at CAGR 12.12% Development Data, Growth Analysis & Forecast 2022 to 2028 -Bushnell, Leupold, Burris, Nikon, Schmidt-Bender, WALTHER, Hawke Optics, Nightforce, BSA, Hensoldt, Vortex Optics, Barska,

The Riflescopes Market size is expected to grow at a CAGR of 7.23% during forecast period 2021 to 2032. The advancements in technology for precision attack and their increasing demand for hunting and shooting sports are some of the factors expected to drive the growth of the riflescopes industry. However, Hight cost of riflescopes is a challenge the market is facing. There are multiple opportunities for manufacturers to gain a substantial market share through military modernization contracts. The global riflescopes market size was valued at USD 7.02 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 4.8% from 2020 to 2027

Driver: Advancements in riflescope technology for precision attack
Technology has rapidly evolved in the riflescopes market. In the military, precision is of paramount importance. Soldiers guarding borders or those in particular missions, such as desert storm, need rifles with scopes that can easily spot intended targets with high precision.

Rapid Adaptive Zoom for Assault Rifles (RAZAR) technology enables riflemen to toggle between high and low magnifications at a push of a button without having to remove their eyes from the targets or their hands from the rifles. Bushnell (US) and Vortex Optics (US) are among the major companies offering RAZOR technology used in long-range riflescopes.

This research report categorizes the Riflescopes Market based on magnification, sight type, application, technology, end use, weapon compatibility, function, range, and region.

By Magnification
1-8x
8-15x
> 15x

Sight Type
Telescopic
Reflex

Application
Armed Forces
Hunting
Shooting Sports

Technology
Electro-optic/Infrared
Thermal Imaging
Laser

Weapon Compatibility
Sniper Rifles
Automatic Rifles

Function
Day Sights
Night Sights

End Use
Defense
Commercial

Range
Short (50 to 100 yards)
Medium (100 to 500 yards)
Long (> 500 Yards)

Recent Developments
Leupold & Stevens, Inc., in partnership with Aimpoint, was awarded a military optics contract worth USD 42.8 million to provide Mark 6 riflescopes along with Mark 6 riflescope-integrated mounting systems. This contract will act as the base for the next generation of integrated optical aiming systems for modern small arms.

There are other technological developments, such as integration with night vision goggles and riflescopes for smart rifles, which are expected to herald the growth of new and technologically advanced riflescopes.

Restraint: Ban on hunting
Riflescopes are primarily used in hunting. There are countries, including Australia and New Zealand, where hunting is encouraged as a measure to control the animal population. However, in countries such as India, there are strict wildlife regulations, and some communities do not allow the hunting of certain species. Botswana had banned trophy hunting on public lands in 2014; Zambia banned the hunting of leopards or lions, both of which are disappearing across Africa; and Costa Rica passed a law that bans all sport hunting and trapping, both inside and outside protected areas. Various animals are on the verge of extinction and have been declared endangered. Thus, hunting, which constitutes about 40-45% revenue streams of riflescope manufacturing companies, is expected to get affected in the future due to the ban on animal hunting.

Major Key players profiled in the report include:
Bushnell, Leupold, Burris, Nikon, Schmidt-Bender, WALTHER, Hawke Optics, Nightforce, BSA, Hensoldt, Vortex Optics, Barska, Aimpoint, LEAPERS, Tasco, Swarovski, Weaveroptics, Meopta, Gamo, Millett, Zeiss, Trijicon, Crimson Trace, China North Industries Group Corporation Limited, Sam Electric Appliance(Nantong)Co.,Ltd., Nantong Universal Optical Instrument Co.Ltd., Nantong Chengxin Optical Instrument Co.,Ltd.

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The shooting sports application segment is expected to gain a notable share in the market in the years to come owing to the rise in outdoor sporting events and the increasing popularity of shooting games. Furthermore, international events including the Olympics and Commonwealth Games are expected to increase the popularity of shooting sports, thus positively affecting the segment growth.

The hunting application segment is likely to lose some share to its counter applications of the products owing to the rise in concerns over the protection of wildlife. Stringent regulations and animal protection act across the globe are likely to decrease hunting activities, which is anticipated to hamper the segment growth.

Market split by Type, can be divided into:
Telescope Rifle Scopes, Reflective Rifle Scopes, Collimating Rifle Scopes.

Market split by Application, can be divided into:
Hunting, Shooting Sport, Armed Forces

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The authors of the report have analyzed both developing and developed regions considered for the research and analysis of the global Rifle Scopes market. The regional analysis section of the report provides an extensive research study on different regional and country-wise Rifle Scopes industry to help players plan effective expansion strategies.

Regions Covered in the Global Rifle Scopes Market:
• North America (U.S., Canada)
• Europe (U.K., Germany, France, Italy)
• Asia Pacific (China, India, Japan, Singapore, Malaysia)
• Latin America (Brazil, Mexico)
• Middle East & Africa (Kuwait, Saudi Arabia Egypt)

Years Considered to Estimate the Market Size:
History Year: 2019-2020
Base Year: 2021
Estimated Year: 2022
Forecast Year: 2022-2030

What market dynamics does this report cover?
The report shares key insights on:

Current market size
Market forecast
Market opportunities
Key drivers and restraints
Regulatory scenario
Industry trend
New product approvals/launch
Promotion and marketing initiatives
Pricing analysis
Competitive landscape
It helps companies make strategic decisions

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