The rifle scopes market demand was USD 750.9 million in 2020. The market is projected to grow from USD 765.9 million in 2021 to USD 1,193.6 million in 2028 at a CAGR of 6.54% during the 2021-2028 period. This vital information is presented by Fortune Business Insights™, in its report, titled, “Rifle Scopes Market, 2021-2028.” Factors such as critical control over magnification and the ability to predict where the bullet might impact will increase the footprint of the market during the forecast period. Additionally, a wider field view and a more natural image will boost the market’s growth.
Segments
On the basis of magnification, the market can be divided into 1-8X, 8-15X, and greater than 15X.
By sight type, the market can be broken down into telescopic and reflective.
With respect to end-use, the market can be segmented across commercial and defense.
In terms of geography, the market can be categorized into North America, Europe, Asia-Pacific, and the rest of the World.
List of Key Players Present in the Market
- Aimpoint (Sweden)
- ATN Corporation (U.S.)
- Burris Company (U.S.)
- Bushnell (U.S.)
- EUPOLD & STEVENS, INC. (U.S.)
- HENSOLDT AG (Germany)
- NIGHTFORCE OPTICS (U.S.)
- Schmidt & Bender GmbH & Co. KG (Italy)
- SIG SAUER (U.S.)
- Trijicon, Inc. (U.S.)
- Vortex Optics (U.S.)
- ZEISS Group (Germany)
Report Coverage
The market report for rifle scopes contains a comprehensive analysis by focusing on critical aspects of prominent rifle scope companies, sight types, and leading applications. The report also focuses on critical factors such as market trends, competitive landscape, growth opportunities, and regional developments. The report also encompasses various factors that are responsible for affecting the market in a negative/positive manner during the forecast period.
Browse Summary
https://www.fortunebusinessinsights.com/riflescopes-market-105869
Drivers & Restraints
Increasing Demand for Riflescopes in for Shooting Sports and Hunting to Increase Sales
Factors such as rising demand for firearms for shooting sports and hunting and rising shooting ranges worldwide will boost the rifle scopes market growth during the forecast period. Additionally, advanced technologies such as smart, thermal imaging, and infrared will increase the footprint of the market. Also, rising demand for night vision scopes will fuel the market’s growth.
Regional Insights
North America to Hold Significant Market Share due to Rising Military Expenditure
North America will occupy a considerable rifle scopes market share during the forecast period due to the region witnessing the highest military expenditure and rising number of military modernization programs. Additionally, the region is also home to a large number of shooting ranges. Increasing procurement of advanced rifles for the U.S. army will further fuel the market growth.
The Asia Pacific will witness significant growth due to rising defense expenditure from emerging economies such as China and India. The rising number of shooting ranges and increased procurement of advanced firearms will further boost the market’s growth.
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