Shooting Ranges Market Expected to Reach $2.4 Billion by 2031 | CAGR of 8.3%

The global shooting ranges market size was estimated at $1.1 billion in 2021 and is expected to hit $2.4 billion by 2031, registering a CAGR of 8.3% from 2022 to 2031.

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The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.

The global shooting ranges market is growing at a CAGR of 8.3% from the forecast period 2022 to 2031 growth of practice and study of firearms, frequently for archery. The shooting ranges are appropriate for this criterion due to their aim to offer a protected environment for weapons training. The rising need for live fire drills and the production of the latest sophisticated firearms is driving the growth of the market. Moreover, by type, the indoor shooting range dominated the market in 2021, in terms of revenue, and is expected to lead the market throughout the forecast period. By product type, the fixed targets segment incurs a higher share. By end-user, the military segment dominates the market in 2021, in terms of revenue. At present, North America is the highest revenue contributor, followed by Asia-Pacific.

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Shooting ranges are regulated environments created for the instruction and testing of weapons, as well as occasionally for archery. It might be virtual, indoor, or both, and it might be on the outskirts of a city or close to a forest. Shooting ranges also feature extras like the firing point, targets, backstop, wind flags, and lights. Shooting ranges are increasingly used as a form of recreation despite typically being built for use by the military and law enforcement. These are secure, eco-friendly locations that can also be utilized to test guns.

Shooting ranges can be indoor or outdoor, may only permit the use of specific firearms, such as pistols or long guns, or they may focus on specific Olympic sports, such as trap/skeet shooting or 10 m air pistol/rifle. Most indoor ranges forbid the use of rifles, fully automatic weapons, or high-powered calibers.

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The global shooting ranges market is analyzed across type, product type, end-user, and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.

By region, North America held the major share in 2021, garnering more than three-fifths of the global shooting ranges market revenue. LAMEA, simultaneously, would showcase the fastest CAGR of 11.0% from 2022 to 2031. The other provinces studied through the report include Europe and Asia-Pacific.

The key market players analyzed in the global shooting ranges industry report include InVeris Training Solutions, Action Target, Inc., Range Systems, Inc., Cubic Corporation, Virtra Training Systems, Inc., and Saab AB. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.

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