Market Research Report
Global Riflescopes Market by application, technology, end user, function, range (Short, Medium, Long ), Regional Forecasts 2021-2027
|Global Riflescopes Market by application, technology, end user, function, range (Short, Medium, Long ), Regional Forecasts 2021-2027|
Published: August 15, 2021
Bizwit Research & Consulting LLP
Delivery time: 2-3 business days
Global Riflescopes Market is valued approximately at USD 5.7 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 5% over the forecast period 2021-2027. The riflescope is a telescopic vision attached to the weapon's topmost part that aids in improving aim by pointing and magnifying a target. It is primarily utilized by the military, as well as hunting and shooting sports. Various sophisticated capabilities are being added to riflescopes to make it easier to aim and shoot. Actual shooting is being made to resemble a computer game using new technologies. Night-vision and infrared imaging lenses are also being included into riflescopes by manufacturers. There are several different types of riflescopes on the market. The market is driven by key factors such as advancements in riflescope technology for precision attack and increasing demand for riflescopes for hunting and shooting sports. For instance, SIG Sauer (Germany) and the US Department of Defense (DOD) signed a contract in January 2019 to provide the US Special Operations Forces (SOF) with a new riflescope and gun mount, the Electro-Optics Tango6T 1-624 Second Focal Plane (SFP) Riflescope and Alpha4 Ultralight Mount. For the next five years, the deal will cost the US Department of Defense USD 12 million per year. Furthermore, Nikon launched a new flagship hunting riflescope, the Monarch riflescope, in September 2019, which is a long-range type riflescope that is excellent for hunting and sporting activities. Manufacturers are incorporating technology including GPS geotagging, enhanced magnification, and ultra-HD magnification, as well as networking capabilities including Bluetooth and Wi-Fi, into riflescopes for connectivity with other gadgets such as smart goggles for better accuracy, for military applications. However, high cost of riflescopes may impede market growth over the forecast period of 2021-2027.
North America dominated the global market and is predicted to develop rapidly in the next years. In the forecasted period, increased military investment and the deployment of new military equipment in the United States are projected to boost regional market growth. Due to the strong adoption of technologically sophisticated equipment by the armed services, Europe emerged as the second-largest consumer of the products. The United Kingdom, Germany, France, and Russia, among others, are major players in the region.
Major market player included in this report are:
Schmidt & Bender GmbH & Co. Kg
Leupold & Stevens, Inc.
Nightforce Optics, Inc.
Carl Zeiss Ag
BAE Systems, Plc
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Short (50 to 100 yards)
Medium (100 to 500 yards)
Long (> 500 Yards)
By End use:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027.
Target Audience of the Global Riflescopes Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
List of figures