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Shooting Ranges Market Outlook, Trends, Analysis, Insights, Overview And Forecast To 2033
Shooting Ranges Market Outlook,
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According to The Business Research Company's, The shooting ranges market size has grown strongly in recent years. It will grow from $1.13 billion in 2023 to $1.22 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to rising self-defense training, growing indoor and outdoor sports, a rise in law enforcement training, rising demand for well-equipped shooting facilities, and a and a rising preference for guns.
The shooting ranges market size is expected to see strong growth in the next few years. It will grow to $1.70 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to an increase in recreational shooting activities, increasing contemporary shooting equipment, increasing civilian firearms, increasing defense budgets, and increasing adoption of smart range technologies. Major trends in the forecast period include the development of virtual stimulators, innovation in shooting range technologies, developing soundproofing technologies, integrating wireless target setup systems, and the and the installation of advanced defense training platforms.
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Market Drivers and Trends:
The rising recreational activities are expected to propel the growth of the shooting ranges market going forward. Recreational activities refer to leisure pursuits that individuals engage in during their free time for enjoyment, relaxation, and entertainment. The rise in recreational activities can be attributed to increasing disposable income, growing awareness of health benefits, and enhanced access to recreational facilities and infrastructure. Shooting ranges contribute to rising recreational activities by offering a unique and engaging experience for enthusiasts and beginners and providing a safe environment for individuals to practice shooting skills, participate in competitions, and enjoy social activities. For instance, in 2023, according to the Outdoor Industry Association, a US-based trade organization, the number of outdoor recreation participants grew by 2.3%, reaching 168.1 million people in 2023. Therefore, the rising recreational activities are driving the growth of the shooting ranges market.
Major companies operating in the shooting ranges market are focusing on developing innovative solutions, such as shooting stalls, to provide users with a more dynamic and engaging experience. A shooting stall is an individual shooting lane or booth within a shooting range designed to give shooters a controlled and safe environment. Each stall typically accommodates one shooter at a time and is equipped with necessary safety features and amenities to ensure a secure and efficient shooting experience. For instance, in January 2022, Action Target Inc., a US-based shooting range equipment manufacturer, introduced Citadel Shooting Stall to its industry-leading shooting stall lineup. The Citadel features stunning floor-to-ceiling LED lighting that highlights its modern design, emphasizing strong lines and customizable bold materials to elevate any range's aesthetics to a high level of sophistication. The stall also includes a customizable holographic lane number projection system to match your business and range facility's branding needs. Shooters will appreciate its deeper footprint for enhanced privacy, while sizable ballistic glass panels ensure high visibility and promote safety on the range.
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Major Key Players of the Market:
Saab AB, ATS Targets, Meggitt PLC, Cubic Corporation, Beretta Holdings, Remington Arms Company LLC, Smith & Wesson Brands Inc., Fabrique Nationale Herstal S.A., Heckler & Koch GmbH, Colt's Manufacturing Company LLC, Savage Arms Inc., InVeris Training Solutions Inc., Glock Ges.m.b.H., Browning Arms Company, Action Target Inc., Sig Sauer Inc., VirTra Inc., Zen Technologies Limited, O.F. Mossberg & Sons Inc., Laser Shot Inc., Theissen Training Systems GmbH, Range Systems Inc., Polytronic International AG
Shooting Ranges Market 2024 Key Insights:
• The shooting ranges market size is expected to see strong growth in the next few years. It will grow to $1.70 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%.
• Rising Recreational Activities Drive Growth Of The Shooting Ranges Market
• Shooting Ranges Embrace Automated Target Retrieval Systems For Enhanced Training
• North America was the largest region in the shooting ranges market in 2023
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