Press release
Strong Growth Ahead: Firearm Sight Market Size To Grow At Arecord 4.9% Cagr By 2029
Firearm Sight
What Is the Projected Growth of the Firearm Sight Market?
The market size for firearm sights has been experiencing consistent growth over the past few years. It is projected to increase from a value of $1.61 billion in 2024 to $1.68 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 4.5%. The previous growth was primarily due to factors such as the demand from the military and defense sector, expansion in the civilian market, the influence of law enforcement requirements, and the development of night vision sights.
In the coming years, the firearm sight market is anticipated to experience consistent growth, anticipated to reach a valuation of $2.04 billion in 2029, expanding at a Compound Annual Growth Rate (CAGR) of 4.9%. Factors contributing to this promising projection during the forecast period include the rapid evolution of reflex sights, development of customizable and modular systems, advancements in the construction sector and materials, and the global rise in terrorism. Key trends to anticipate in this market during the forecast span include enhancements in smart optical, customizable and modular systems, improvements in user interfaces and controls, advancement in training functionalities, and developments in wireless connectivity and integration.
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What Are the Different Firearm Sight Market Segments?
The firearm sight market covered in this report is segmented -
1) By Type: Full Size, Microdots, Mini Reflex
2) By Platform: Ground-Based, Air-Based, Sea-Based
3) By Application: Hunting, Armed Forces, Other Applications
Subsegments:
1) By Full Size: Standard Red Dot Sights, Reflex Sights, Holographic Sights
2) By Microdots: Compact Red Dot Sights, Miniature Reflex Sights
3) By Mini Reflex: Pistol-mounted Mini Reflex Sights, Shotgun Mini Reflex Sights
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What Are the Primary Drivers Shaping the Firearm Sight Market?
The increase in military spending is predicted to boost the growth of the firearm sight market. When referring to military expenditure, it pertains to the funds a nation allocates for military initiatives or resources. These funds are utilized for new systems, improving current systems, and conducting research, development, assessment, and evaluation of fresh systems which can stimulate market growth. For example, the Ministry of Defence reported in April 2024 that UK's defense expenditure rose from $68.63 billion in 2022/23 to $70.45 billion in 2023/24. Hence, the ascension in defense spending is propelling the firearm sight market's expansion.
Which Companies Are Leading in the Firearm Sight Market?
Major companies operating in the firearm sight market include Nikon Sport Optics, Lucid Optics, SIG Sauer, Swarovski Optik KG., Leupold & Stevens Inc., Burris Company Inc., Vortex Optics, Bushnell Inc., Sellmark Corporation., Trijicon Inc, Meopta USA Inc, EOTech Inc., Meprolight, Crimson Trace Corporation, Primary Arms LLC, Leapers Inc., KAHLES Gesellschaft M.b.H., Steiner EOptics Inc, Holosun Technologies Inc, TruGlo Inc, Athlon Optics, Lightforce USA Incorporated., High Speed Gear, Aimpoint AB, NcSTAR Inc., DI Optical, Swampfox Optics, Delta Optical Thin Film A/S., Command Arms Accessories LLC, Black Spider LLC, Trijicon Electro Optics, Birmingham Small Arms Company Limited., Firefield, Docter Optics SE., Pulsar
What Trends Are Expected to Dominate the Firearm Sight Market in the Next 5 Years?
Leading entities in the firearm market are progressively concentrating on designing and developing advanced items, like innovative pistols, that cater to the requirements of both leisure-time shooters and professionals. Innovative pistols are firearms that couple pioneering design with advanced technology to boost performance, dependability, and user comfort. For example, Heckler & Koch USA, an American firearms producer, released the entirely new CC9 pistol in October 2024. The completely new CC9 pistol integrates an optics-ready structure with a direct mount for red dot sights, improving user target acquisition. It is outfitted with a tritium front sight and a blacked-out rear sight for excellent visibility across different light conditions. This micro-compact firearm blends state-of-the-art ergonomics and modularity, making it ideal for concealed carry and daily use, while assuring dependability due to strict testing standards.
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What Are the Top Revenue-Generating Geographies in the Firearm Sight Market?
North America was the largest region in the firearm sight market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the firearm sight market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Firearm Sight Market?
2. What is the CAGR expected in the Firearm Sight Market?
3. What Are the Key Innovations Transforming the Firearm Sight Industry?
4. Which Region Is Leading the Firearm Sight Market?
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