Press release
Surge In Territorial Activities Expected To Drive Growth In The Shooting And Gun Accessories Market: A Key Factor Shaping the Future of the Shooting And Gun Accessories Market in 2025
Shooting And Gun Accessories
The escalating territorial activities across the globe are projected to stimulate the expansion of the shooting and gun accessories market. These products are utilized for an array of reasons including self-defense, law enforcement, hunting, sports shooting, among others. The escalating territorial operations across the globe will spur the demand for shooting and gun accessories that accommodate this increase. For example, in June 2024, as per Statistics Canada, a government agency based in Canada, it was reported that in 2022, there was a growth in the sport GDP across all provinces and territories, with the most significant surges documented in Ontario with an increase of $349.5 million (equating to 10.3%), British Columbia with a growth of $135.9 million (equating to 12.5%), and in Alberta, which saw an increase of $67.5 million (amounting to 9.6%). Thus, the escalating territorial activities worldwide are anticipated to invigorate the expansion of the shooting and gun accessories market.
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What is the future CAGR of the shooting and gun accessories market, and how will it impact industry expansion?
In the past few years, there has been a robust growth in the market size concerning shooting and gun accessories. The market is projected to expand from $8.29 billion in 2024 to $8.8 billion in 2025, implying a compound annual growth rate (CAGR) of 6.1%. Factors contributing to this rising trend in the historical period include demand from military and law enforcement, emerging trends in sports shooting, the impact of media, the surge in online retail, and educational initiatives.
The market size for firearms and related accessories is predicted to experience substantial growth in the upcoming years. It's anticipated to expand to $12.13 billion by 2029, with a compound annual growth rate (CAGR) of 8.3%. This growth over the forecast period can be traced back to factors such as environmental and climatic issues, global security threats, the spread of e-commerce, escalation in urbanization, and the sway of social media. Key trends during the forecast period comprise the emergence of smart accessories, adoption of subscription-based models, advances in materials, integration of augmented reality (AR), and incorporation of health and fitness.
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What are the most significant trends transforming the shooting and gun accessories market today?
Leading companies in the gun and firearms accessories market are prioritizing the creation of advanced technological solutions, including the GUNTEC line, to meet complex industry needs. The GUNTEC range, which includes firearm accessories such as sights, grips, and stocks, is designed to boost performance and personalization for both hobbyists and experts. For example, LIQUI MOLY, a German auto chemicals firm, launched their GUNTEC line in the US in May 2024, branching into the gun maintenance market. Their range of products for cleaning, lubrication, and protection of firearms aims to adhere to the stringent expectations of American firearms owners and professionals, offering solutions to maintenance issues analogous to those found in car care. Access to GUNTEC products is offered through the LIQUI MOLY Team Store and a variety of online channels, emphasizing the company's dedication to providing top-tier solutions with a strong foundation in research and development.
Which key market segments comprise the shooting and gun accessories market and drive its revenue growth?
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
Subsegments:
1) By Air Rifle: Break Barrel Air Rifle, Pre-Charged Pneumatic (PCP) Air Rifle, Multi-Pump Air Rifle
2) By Air Pistol: CO2 Air Pistol, Spring-Piston Air Pistol, Pre-Charged Pneumatic (PCP) Air Pistol
3) By Other Types: Targets, Shooting Rests, Cleaning Kits, Safety Gear
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What regions are at the forefront of shooting and gun accessories market expansion?
North America was the largest region in the shooting and gun accessories market in 2024. The regions covered in the shooting and gun accessories market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the leading players fueling growth in the shooting and gun accessories market?
Major companies operating in the shooting and gun accessories market include 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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What Is Covered In The Shooting And Gun Accessories Global Market Report?
•Market Size Forecast: Examine the shooting and gun accessories market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the shooting and gun accessories market for a structured understanding.
•Key Players Overview: Analyze major players in the shooting and gun accessories market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the shooting and gun accessories market.
•Segment Contributions: Evaluate how different segments drive overall growth in the shooting and gun accessories market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the shooting and gun accessories market.
•Industry Challenges: Identify potential risks and obstacles affecting the shooting and gun accessories market.
•Competitive Landscape: Review strategic developments in the shooting and gun accessories market, including expansions, agreements, and new product launches.
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