Global Shooting & Gun Accessory Market Analysis 2024: Trends and Innovations

"The Business Research Company recently released a comprehensive report on the Global Shooting And Gun Accessories Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, 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 Drivers and Trends:

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.

Product innovation in gun accessories is a key trend gaining popularity in the shooting and gun accessories market. Major companies operating in the market are developing innovative products such as lightweight rifles, accessories with compact designs, guns, holographic sighting systems, tactical lasers, illuminators, thermal imaging equipment, and others to sustain their position in the market. For instance, in March 2021, Dark Storm Industries LLC, a US-based firearms manufacturer, launched the DS-25 Typhoon Sport Utility Rifle, which is small and light. The new.308 semi-auto rifle makes use of several AR-15 mil-spec-style parts. The Typhoon features a free-float M-LOK forearm, an ambidextrous charging handle, and safety selector in addition to a billet 7075 aluminum upper and lower receiver coupled with a nitride 4150 barrel. The weapon's non-NFA variant introduces the.308 cartridges to the subcompact truck gun market with its shortened 12.5"-barrel, front vertical handle, and SBA3 brace.

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Major Key Players of the Market:

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.

Shooting And Gun Accessories Market 2024 Key Insights:

• 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%.
• Surge In Territorial Activities Expected To Drive Growth In The Shooting And Gun Accessories Market
• Emerging Trends In Product Development Drive The Shooting And Gun Accessories Market
• North America was the largest region in the shooting and gun accessories market in 2023

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