Press release
Soaring Demand Set to Propel Shooting Ranges Market to $1.84 Billion by 2029
Shooting Ranges
What Is the Expected CAGR for the Shooting Ranges Market Through 2025?
The market for shooting ranges has experienced substantial growth in the past few years. The value of the market is predicted to increase from $1.22 billion in 2024 to $1.33 billion in 2025, with a compound annual growth rate (CAGR) of 8.8%. The growth previously observed has been tied to the increased interest in self-defense training, growth in both indoor and outdoor sports, an increase in law enforcement training, higher demand for well-outfitted shooting facilities, and a growing preference for firearms.
What's the Projected Size of the Global Shooting Ranges Market by 2029?
Over the next couple of years, significant growth is anticipated in the shooting ranges market, projecting that it will reach $1.84 billion by 2029, with a compound annual growth rate (CAGR) of 8.4%. This expected growth during the forecast period can be linked to the boost in recreational shooting events, the rise in up-to-date shooting apparatus, the growth in civilian firearms, enlarged defense budgets, and a rise in the acceptance of smart range technology. Major trends to keep an eye on in the forecast period encompass the creation of virtual simulators, the advancement in shooting range technology, progression in soundproofing technology, the integration of wireless target setup systems, and the introduction of advanced defense training platforms.
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Top Growth Drivers in the Shooting Ranges Industry: What's Accelerating the Market?
The surge in leisure pursuits is anticipated to fuel the expansion of the shooting ranges market. These pursuits refer to activities people indulge in during their spare time for fun, rest, and entertainment. The increase in these activities is due to heightened disposable income, an increased understanding of health advantages, and better access to leisure facilities and infrastructure. Shooting ranges aid and augment these activities by providing a distinctive and captivating experience for fanatics and novices alike, while ensuring a secure setting for individuals to hone their shooting skills, compete, and partake in sociable activities. For example, there was a 2.3% growth in outdoor recreation participants in 2023, according to the Outdoor Industry Association, a US-based trade association, reaching 168.1 million individuals. Hence, it's the surge in leisure activities driving the expansion of the shooting ranges market.
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What Trends Will Shape the Shooting Ranges Market Through 2029 and Beyond?
Leading players in the shooting ranges market are concentrating on creating innovative solutions like shooting stalls, aimed at offering a more interactive and immersive experience to the users. A shooting stall is a personalized shooting lane or booth inside a shooting range that facilitates a secure and controlled environment for the shooters. Each stall normally fits one shooter and is furnished with important safety features and conveniences to guarantee a secure and efficient shooting encounter. For example, Action Target Inc., a shooting range equipment producer based in the US, launched Citadel Shooting Stall in January 2022, adding to its top-notch shooting stall assortment. The Citadel comes with captivating floor-to-ceiling LED lighting that emphasizes its contemporary design, accentuating strong structures and customizable bold materials, that considerably enhances the aesthetics of any range. Additionally, this stall offers a customizable holographic lane number projection system, allowing it to align with the brand image of your business and range facility. Shooters would value its extended footprint for increased privacy, and the large ballistic glass panels boost safety on the range by enhancing visibility.
What Are the Main Segments in the Shooting Ranges Market?
The shooting ranges market covered in this report is segmented -
1) By Type: Indoor Shooting Range, Outdoor Shooting Range
2) By Product: Fixed Targets, Moving Targets, Virtual Simulators
3) By Application: Military Training, Self-Defense, Training Recreation, Other Applications
Subsegments:
1) By Indoor Shooting Range: Handgun Shooting Range, Rifle Shooting Range, Archery Shooting Range, Tactical Shooting Range
2) By Outdoor Shooting Range: Rifle And Shotgun Ranges, Pistol Ranges, Clay Pigeon And Skeet Shooting, Tactical And Hunting Ranges
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Which Top Companies are Driving Growth in the Shooting Ranges Market?
Major companies operating in the shooting ranges market are 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
Which Regions Will Dominate the Shooting Ranges Market Through 2029?
North America was the largest region in the shooting ranges market in 2023. The regions covered in the shooting ranges market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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