Non-military Riflescope Market By Type (Telescopic Sight, Collimating Optical Sight, and Reflex Sight), By Application (Hunting and Shooting Sports), Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2020-2026
Global Non-military Riflescope market is estimated to reach $1,835.9 million by 2026 with a CAGR of 2.8% from 2020 to 2026.
Riflescopes are used to improve the aim and precision of shooting, with optical instruments integrated with rifles for better target acquisition. The non-military riflescope is provided to amateur and professional shooters participating in official shooting events and people engaging in leisure hunting activities at shooting ranges and outdoor settings.
The rising growth in the number of hunting and competitive shooting events and technological advancements in the riflescope, leading to the precision shooting are the primary factors driving the market growth. The gradual increase in the hosting of hunting events and shooting competitions on a worldwide basis has increased the demand for riflescopes, with the need for precise aim at the target a vital part of the shooting experience. The surge in customers seeking to participate in such circumstances would further influence the growth of the market, as more and more leisure activities with recreational aspects of shooting and hunting brought forward as a packaged deal in nature experience events. The consistent efforts of product improvement in terms of precision and target steadiness of riflescopes has led to innovation in the portfolio, and piqued interest among customers, also improving the growth prospects of the market. However, high product costs and additional expenditure on maintenance and negative product perception among the customers for purported use in wildlife trophy hunting might hamper the market growth. The budget-heavy prices of accessories and related components of the riflescope products are often viewed as luxury items that are not readily affordable for all. Additionally, the maintenance of riflescopes for long service-life requires significant financial investments in the purchase of parts and components for cleaning purposes. The incorporation of thermal infrared imaging in riflescopes for use at night would provide lucrative opportunities for the market in the coming years. The increasing development of riflescopes coupled with thermal infrared imaging for better viewing at night would give critical vendors with additional opportunities for the product application and business expansion over the forecast period.
The global Non-military Riflescope market is mainly classified based on Type and Application. Type is segmented into Telescopic Sight, Collimating Optical Sight, and Reflex Sight. By Application, the market is divided into Hunting and Shooting Sports.
The Telescopic Sight by Type holds a considerable share in terms of overall market volume and value owing to its easy availability and affordability. The telescopic scopes are a popular preference among beginners and amateur shooters practicing at shooting ranges and targeting for initial competitions, which would further boost the prospects of segment growth.
In terms of volume, the Shooting Sports segment by Application is poised to garner 921.4 K Units by 2026; growing at a CAGR of 3.2% during 2020-2026. The rise in the number of shooting events and competitions held around the world would contribute to the growth of the segment. The increasing participation of amateurs and professionals in the shooting sports activities would further bolster the segment growth.
Based on geography, the global Non-military Riflescope market is divided into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America is further divided in the U.S., Canada, and Mexico, whereas Europe consists of the UK, Germany, France, Italy, Russia, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific. The South America region includes Brazil, Argentina, and the Rest of South America. At the same time, the Middle East & Africa is categorized into GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa.
North America is a leading region and holds a substantial share in terms of overall market volume and value owing to the rising sale of rifles for hunting and shooting events and increased customer interest for better precision and aim in competitions.
The Non-military Riflescope market is moderately fragmented, with many global and regional companies vying in the market with expansive manufacturing capabilities and extensive distribution networks.
Key players operating in the Non-military Riflescope industry include Bushnell Corporation, Nightforce Optics, Nikon Corporation, Leupold & Stevens, Inc., Hawke Optics, Burris Optics, Hensoldt Holding GmbH, Carl Walther GmbH, Schmidt & Bender GmbH & Co. KG, BSA Guns (UK) Limited, Meopta Optika s.r.o., Vortex Optics, Swarovski Optik, Leapers, Inc., Barska, Pulsar NV, Aimpoint AB, Nantong Universal Optical Instrument Co., Ltd., Carl Zeiss AG, Sam Electrical Equipments (Nantong) Co., Ltd., NORINCO Group, Holosun Technologies Inc., Sightmark, SIG SAUER, Inc., Sightron, and Simmons Outdoor Corporation.
The focus on product development in terms of technological advancement and expansion of business opportunities through strategic acquisitions and collaborations are the primarily followed business strategies of the top players looking to capture substantial market share during the forecast period.
Covid-19 Impact Analysis
The proliferation in infected individuals of Convid-19 cases has led to the implementation of stringent lockdown measures in several countries and confinement of the general population to the safety of their homes. The resultant detention has immediately halted all outdoor hunting activities and shooting competitions. There is a prolonged uncertainty regarding the timeline when such events are resumed. The closure of target practice ranges and natural wildlife settings popular for recreational hunting activities have also been shut down owing to a steady decline in customers and a substantial reduction in staff numbers. As such, demand for the purchase of riflescopes and the number of new orders placed would also witness a considerable decline owing to the shutdown of places and postponement of events. The adoption of social distancing norms and frequent health check-ups would also impact the overall workforce and staff numbers in riflescope manufacturing facilities. The closure of retail stores pertaining to the sale of riflescope products and limitations in the availability of raw material components owing to travel restrictions would affect the demand dynamics of the market. However, the disruptions in business opportunities are temporary and would dissipate in due time.
Non-military Riflescope Market Key Segments:
• Telescopic Sight
• Collimating Optical Sight
• Reflex Sight
• Shooting Sports
Key Global Non-military Riflescope Industry Players
• Bushnell Corporation
• Nightforce Optics
• Nikon Corporation
• Leupold & Stevens, Inc.
• Hawke Optics
• Burris Optics
• Hensoldt Holding GmbH
• Carl Walther GmbH
• Schmidt & Bender GmbH & Co. KG
• BSA Guns (UK) Limited
• Meopta Optika s.r.o.
• Vortex Optics
• Swarovski Optik
• Leapers, Inc.
• Pulsar NV
• Aimpoint AB
• Nantong Universal Optical Instrument Co., Ltd.
• Carl Zeiss AG
• Sam Electrical Equipments (Nantong) Co., Ltd.
• NORINCO Group
• Holosun Technologies Inc.
• SIG SAUER, Inc.
• Simmons Outdoor Corporation
Table of Content
1. Market Introduction
1.1. Executive Summary
1.2. Market Definition
1.3. Market Scope
2. Research Methodology
2.1. Primary Research
2.2. Research Methodology
2.3. Assumptions & Exclusions
2.4. Secondary data sources
3. Non-military Riflescope Market Overview
3.1. Report Segmentation & Scope
3.2. Key Market Trend
3.3. Covid Impact on Non-military Riflescope Market
3.4.1. Rising growth in the number of hunting and competitive shooting events
3.4.2. Technological advancements in riflescope leading to precision shooting
3.5.1. High product costs and additional expenditure on maintenance
3.5.2. Negative product perception among the customers for purported use in wildlife trophy hunting
3.6.1. Incorporation of thermal infrared imaging in riflescopes for use at night
3.7. Porter’s Five Forces Analysis
3.7.1. Porter’s Five Forces Analysis
3.8. Market Share Analysis
4. Type Overview
4.1.1. Market Size & Forecast
4.2. Telescopic Sight
4.2.1. Market Size & Forecast
4.3. Collimating Optical Sight
4.3.1. Market Size & Forecast
4.4. Reflex Sight
4.4.1. Market Size & Forecast
5. Application Overview
5.1.1. Market Size & Forecast
5.2.1. Market Size & Forecast
5.3. Shooting Sports
5.3.1. Market Size & Forecast
6. Non-military Riflescope Market Regional Overview
6.1.1. Market Size & Forecast
6.2. North America Non-military Riflescope Market
6.2.1. North America Market Size & Forecast, By Country
6.2.2. North America Market Size & Forecast, By Type
6.2.3. North America Market Size & Forecast, By Application
18.104.22.168. Market Size and Forecast
22.214.171.124. Market Size and Forecast
126.96.36.199. Market Size and Forecast
6.3. Europe Non-military Riflescope Market
6.3.1. Europe Market Size & Forecast, By Country
6.3.2. Europe Market Size & Forecast, By Type
6.3.3. Europe Market Size & Forecast, By Application
188.8.131.52. Market Size and Forecast
184.108.40.206. Market Size and Forecast
220.127.116.11. Market Size and Forecast
18.104.22.168. Market Size and Forecast
22.214.171.124. Market Size and Forecast
6.3.9. Rest of Europe
126.96.36.199. Market Size and Forecast
6.4. Asia-Pacific Non-military Riflescope Market
6.4.1. Asia-Pacific Market Size & Forecast, By Country
6.4.2. Asia-Pacific Market Size & Forecast, By Type
6.4.3. Asia-Pacific Market Size & Forecast, By Application
188.8.131.52. Market Size and Forecast
184.108.40.206. Market Size and Forecast
220.127.116.11. Market Size and Forecast
18.104.22.168. Market Size and Forecast
6.4.8. South Korea
22.214.171.124. Market Size and Forecast
6.4.9. Rest of Asia-Pacific
126.96.36.199. Market Size and Forecast
6.5. South America Non-military Riflescope Market
6.5.1. South America Market Size & Forecast, By Country
6.5.2. South America Market Size & Forecast, By Type
6.5.3. South America Market Size & Forecast, By Application
188.8.131.52. Market Size and Forecast
184.108.40.206. Market Size and Forecast
6.5.6. Rest of South America
220.127.116.11. Market Size and Forecast
6.6. Middle East & Africa Non-military Riflescope Market
6.6.1. Middle East & Africa Market Size & Forecast, By Country
6.6.2. Middle East & Africa Market Size & Forecast, By Type
6.6.3. Middle East & Africa Market Size & Forecast, By Application
6.6.4. GCC Countries
18.104.22.168. Market Size and Forecast
22.214.171.124. Market Size and Forecast
6.6.6. South Africa
126.96.36.199. Market Size and Forecast
6.6.7. Rest of Middle East & Africa
188.8.131.52. Market Size and Forecast
7. Company Profile
7.1. Bushnell Corporation
7.1.1. Company Basic Information, Manufacturing Base, Sales Area and Its Competitors
7.1.2. Bushnell Corporation Product Category, Application, and Specification
7.1.3. Bushnell Corporation Financial Performance (2015-2019)
7.1.4. Main Business/Business Overview
7.2. Nightforce Optics
7.3. Nikon Corporation
7.4. Leupold & Stevens, Inc.
7.5. Hawke Optics
7.6. Burris Optics
7.7. Hensoldt Holding GmbH
7.8. Carl Walther GmbH
7.9. Schmidt & Bender GmbH & Co. KG
7.10. BSA Guns (UK) Limited
7.11. Meopta Optika s.r.o.
7.12. Vortex Optics
7.13. Swarovski Optik
7.14. Leapers, Inc.
7.16. Pulsar NV
7.17. Aimpoint AB
7.18. Nantong Universal Optical Instrument Co., Ltd.
7.19. Carl Zeiss AG
7.20. Sam Electrical Equipments (Nantong) Co., Ltd.
7.21. NORINCO Group
7.22. Holosun Technologies Inc.
7.24. SIG SAUER, Inc.
7.26. Simmons Outdoor Corporation
What Report Provides?
• Full in-depth analysis of the parent Industry
• Important changes in market and its dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional growth potential
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