Shooting and Gun Accessories Market Expected to Reach $10.54 Billion by 2030-Allied Market Research

According to a recent report published by Allied Market Research, titled, “Shooting and Gun Accessories Market by Type, End Use, and Distribution: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global shooting and gun accessories market was valued at $5.13 billion in 2020, and is projected to reach $10.54 billion by 2030, registering a CAGR of 7.7%.

North America dominates the market, in terms of revenue, followed by Asia-Pacific, Europe, and LAMEA. The U.S. dominated the shooting and gun accessories market share in North America in 2020, owing to favorable gun ownership regulations, technological developments by local players, rapid adoption of innovative technologies in making smart, convenient, and efficient guns and accessories. North America is expected to grow at a significant rate during the forecast period, owing to relaxation in gun regulations, rise in conflicts, and increase in shooting competitions in the country.

By type, the market is categorized into air rifle, air pistol, and others. The air rifle segment accounted for the highest revenue in 2020, owing to their silent action, user-friendly action, quick loading and reloading features.

By end use, the shooting and gun accessories market is bifurcated into law enforcement and competitive sports. The competitive sports segment accounted for the highest revenue in 2020, owing to rise in demand for shooting sports guns for competitive sports across the world.

COVID-19 Impact Analysis

• The COVID-19 impact on the shooting and gun accessories market is unpredictable and is expected to remain in force till the fourth quarter of 2021.
• The COVID-19 outbreak forced governments across the globe to implement strict lockdowns and banned/restricted the number of personnel in the factories for most of 2020. This led to sudden fall in manufacturing capacity for guns and accessories across the globe.
• Adverse impacts of the COVID-19 pandemic have resulted in delays in activities and initiatives regarding development of advanced shooting and gun accessories globally.

Key Findings Of The Study

• By type, the other segment including the magazines & loaders, targets, and accessories is expected to register a significant growth during the forecast period.
• By end use, the competitive sports segment is anticipated to exhibit significant growth in future.
• By distribution, the online segment is projected to lead the global shooting and gun accessories market, owing to higher CAGR as compared to civil segment.
• By region, North America is anticipated to register the highest CAGR during the forecast period.

Key players operating in the global shooting and gun accessories market include American Outdoor Brands Inc., Fabbrica D'Armi Pietro Beretta S.p.A., FN Herstal, Heckler & Koch, Remington Ammunition, Savage, Sturm, Ruger & Co., Inc., Taurus International Manufacturing, Inc., Webley & Scott, and Weihrauch & Weihrauch Sport GmbH & Co. KG.