Press release
Shooting And Gun Accessories Market Growth Opportunities, Size, Share Analysis, Recent Developments And Forecast To 2033
Shooting And Gun Accessories Market
The Business Research Company offers in-depth market insights through Shooting And Gun Accessories Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The shooting and gun accessories market size has grown strongly in recent years. It will grow from $7.13 billion in 2023 to $7.62 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to military and law enforcement demand, sports shooting trends, media influence, online retail growth, educational initiatives.
The shooting and gun accessories market size is expected to see strong growth in the next few years. It will grow to $10.14 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to climate and environmental concerns, global security threats, e-commerce expansion, increased urbanization, social media influence. Major trends in the forecast period include rise of smart accessories, subscription-based models, innovations in materials, augmented reality (AR) integration, health and fitness integration.
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Market Segmentation:
The shooting and gun accessories market covered in this report is segmented -
1) By Type: Air Rifle, Air Pistol, Other Types
2) By Distribution: Online, Offline
3) By End-Use: Law Enforcement, Competitive Sports
Major Driver - Surge In Territorial Activities Expected To Drive Growth In The Shooting And Gun Accessories Market
A rise in territorial activities throughout the world is expected to propel the growth of the shooting and gun accessories market going forward. Guns and accessories are used for a variety of purposes, such as self-defense, law enforcement, hunting, sports shooting, and others. The rise in territorial activities throughout the world will drive the demand for shooting and gun accessories that support the growing territorial activities. For instance, in June 2022, according to a report published by the United Nations High Commissioner for Refugees, a Switzerland-based agency of the UN tasked with assisting and defending refugees, globally, 89.3 million people were displaced from their homes by the end of 2021 because of war, violence, fear of persecution, and human rights violations. This is the highest number since World War II and more than double the 42.7 million individuals who were still forcibly displaced a decade ago. More than doubling from 10.5 million a decade ago, the number of refugees climbed during the year, to 21.3 million at the end of 2021. Therefore, the rise in territorial activities throughout the world will fuel the growth of the shooting and gun accessories market.
Competitive Landscape:
Major companies operating in the shooting and gun accessories market report are Beretta Holding S.p.A., Remington Arms Company LLC, Smith & Wesson Brands Inc., SIG SAUER Inc., Sturm Ruger & Co Inc., Taurus International Manufacturing Inc., Fabrique Nationale Herstal, Fabbrica d'Armi Pietro Beretta SpA, Heckler & Koch GmbH, Colt's Manufacturing Company, AMERICAN OUTDOOR BRANDS INC., O.F. Mossberg & Sons lnc., Hatsan Arms Company, Browning Arms Company, Kimber Mfg. Inc., Umarex USA, Savage Arms lnc., Glock Ges.m.b.H., Barrett Firearms Manufacturing Inc., Daisy Outdoor Products lnc., Feinwerkbau GmbH, Daniel Defense Inc., Gamo Outdoor S.L.U, H-S Precision Inc., Benelli Armi SpA, ahg-Anschütz Handels GmbH, ArmaLite Inc., Weihrauch & Weihrauch Sport GmbH & Co KG, Webley & Scott, Les Baer Custom Inc., LWRC International LLC, Nighthawk Custom, Wilson Combat, Ed Brown Products Inc., STI International Inc., Magnum Research Inc.
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Top Trend - Innovative Advancements In The Shooting And Gun Accessories Market
Major companies operating in the shooting and gun accessories market are developing advanced technologies, such as biometric guns, to meet larger customer bases, increase sales, and increase revenue. A biometric gun is a firearm equipped with biometric recognition technology to ensure that only authorized individuals can operate or access the weapon. For instance, in April 2023, Biofire Technologies, a US-based firearm manufacturing company, launched the 9mm smart handgun. Distinguished by its unique features, the smart gun operates effectively across diverse conditions, accommodating users wearing gloves or face coverings. Customizable LED indicators clearly signal the gun's armed status, and it boasts an automatic locking mechanism when not in use. Notably, the firearm relies on biometric data confined exclusively within the weapon, devoid of onboard Wi-Fi, Bluetooth, or GPS. Integrated infrared (IR) sensors in the grip maintain firearm readiness when held by an authorized user, eliminating the need for constant biometric authentication. The gun's distinctiveness extends to its customization options, offering 64 combinations of polymer, trigger, and magazine release colors. Furthermore, the smart gun caters to individual preferences with availability in both right-handed and left-handed models, along with customizable grip-size alternatives.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Shooting And Gun Accessories Market Characteristics
3. Shooting And Gun Accessories Market Trends And Strategies
4. Shooting And Gun Accessories Market - Macro Economic Scenario
5. Shooting And Gun Accessories Market Size And Growth
…..
27. Shooting And Gun Accessories Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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