0

Sports Gun Market Expected to Reach $2,779.0 Million by 2027

 
2022
Sports Gun Market

Report Code : A06371

quote Various factors driving the growth of the sports gun market are increase in number of participants in shooting sports events, stunning advancements in firearms industry, growing popularity of Olympic games, availability of shooting sports facilities and others. quote

Roshan Deshmukh
Assistant Manager, Consumer Goods at Allied Market Research

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a new report published by Allied Market Research, titled, "Sports Gun Market By Gun Type, Application, And Distribution Channel: Global Opportunity Analysis And Industry Forecast, 2020–2027," the global sports gun market is expected to reach $2,779.0 Million by 2027 at a CAGR of 9.7%from 2020 to 2027.Sports gun is non-lethal weapon which is used in shooting sports such as target shooting, Benchreat shooting, popinjay, Clay pigeon shooting, trap shooting, metallic silhouette shooting, cowboy mounted shooting and others. Sports gun includes rifle, pistols and shotguns.

Olympic and Commonwealth games have been gaining considerable popularity and are actively increasing the number of sports activities related to shooters. This increase in number of sports activities in such global event is expected to build strong customer base for the sports gun. Disabled people are increasingly participating in Para Olympic Games and are further generating demand for sports gun. Growing number of audience for the Paralympics especially shooting events, has increased revenue generation of the product market.

According to sports gun market analysis, it is segmented on the basis of gun type, application, distribution channel and region. By product type, it is categorized into Rifle, Pistol, and Shotgun. By application, it is bifurcated into Competitive Shooting and Recreational Sports. By distribution channel, it is divided into Gun Stores, Sporting Goods Stores, Online and Others. Region wise, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Russia, Italy, Spain, Rest Of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, Rest of Asia-Pacific), and LAMEA (the Middle East, Latin America, and Africa).

According to the current sports gun market trends, On the basis of gun type, the shotgun segment is projected register a CAGR of 10.0% from 2020 to 2027. This is majorly attributed to technological advancements in shotgun such as red dot gun-sights, precision-guided shotguns, red dot laser and others. In addition, well-designed and engrossing shotguns are attracting customers, which are projected to boost the demand for shotguns. Various sport shotguns resembles luxury lethal shotguns are galvanizing customers and impelling to buy shotguns, thereby driving the sports gun market growth.

On the basis of application, the recreational shooting segment is expected to register a CAGR of 10.6% from 2020 to 2027. Recreational shooting is referred to use firearms as hobby and majorly played for fun. It is considered to be less stressful physically and mentally.

On the basis of distribution channel, the online segment is estimated to grow at a CAGR of 11.6%. This is majorly attributed to increased penetration of internet and E-commerce channels across gun buyers. Increasing number of internet users from emerging countries such as China, India and others are likely to have access for online sports gun shopping. For instance, according to Indian Brand Equity Foundation, in India, there were 445.96 million internet users in 2017 and are expected to reach 829 million by 2021.

On the basis of region, North America was the prominent market in 2019 and accounted for the maximum share in the global product market, and is expected to continue throughout the sports gun market forecast period 2020-2027. This is attributed to increasing participants in shooting sports and growing popularity of Olympic and commonwealth games. Emerging economies including China, India and others, are gaining considerable traction in global product market owing to increased initiatives and schemes by government. For instance, according to Government of India, India launched various schemes to promote sports such as Fit India Movement, Khelo India Scheme, Sports Talent Search Portal, National Sports Development Fund and others. Increasing sports budget is further augmenting the growth of the market.

The players in the sports gun industry have adopted product launch and business expansion as their key developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report include American Outdoor Brands Corporation

Beretta Holding S.A., Browning Arms Company, Colt's Manufacturing Company, LLC, Crosman Corporation, German Sport Guns GmbH, Howa Machinery, Ltd., J.G. Anschütz GmbH & Co.KG, Olympic Arms Inc., and Sturm, Ruger & Company, Inc.

Key Findings of the Study:

  • The sports gun market size was valued at $2.4 billion in 2019 and is estimated to reach $2.8 billion by 2027, growing at a CAGR of 9.7% during the forecast period.
  • By gun type, pistol segment is estimated to witness the fastest growth, registering a CAGR of 10.2% during the forecast period. 
  • By application, the competitive shooting segment held the highest share in 2019 accounting for 54.50% of the global sports gun market share.
  • In 2019, U.S. was the most prominent market in the North America region and is expected to grow at a significant CAGR throughout the forecast period.

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Request Free Sample
 
 

First time buyer?
Check offers and discount on this report
To get this report

Click Here
 
 

quote Sports Gun Market by Gun Type (Rifle, Pistol, and Shotgun), Application (Competitive Shooting and Recreational Sports), and Distribution channel (Gun Stores, Sporting Goods Stores, Online and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027 quote

View Report
 
 

Avenue: Entire Library membership of Allied Market Research Reports at your disposal

  • Avenue is an innovative subscription-based online report database.
  • Avail an online access to the entire library of syndicated reports on more than 2,000 niche industries and company profiles on more than 12,000 firms across 11 domains.
  • A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
  • Request customizations, suggest new reports, and avail analyst support as per your requirements.
  • Get an access to the library of reports at any time from any device and anywhere.

 
 

WHY ALLIED MARKET RESEARCH?

INFLALLIBLE METHODOLOGY

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

ANALYST SUPPORT

For complete satisfaction

CUSTOMIZATION

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
rep-img

Published Date Mar 2024

Hairbrush Market

Download Sample
rep-img

Published Date Mar 2024

Debt Security Market

Download Sample
rep-img

Published Date Mar 2024

Wood Adhesives Market

Download Sample

Buy Full Version
"Sports Gun Market"
Purchase Enquiry

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of the scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save the time of readers