PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1501723
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1501723
Global Shooting and Gun Accessories Market is valued approximately USD 6.37 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 7.70 % over the forecast period 2024-2032. Shooting is firing projectiles at a target with a gun or other projectile weapon. It encompasses a wide range of activities, including self-defense, hunting, target practice, and competitive shooting sports. Shooting can be done with a variety of weapons, including rifles, shotguns, and pistols, as well as archery equipment such as bows and crossbows. Gun accessories are extra components that can be added to firearms to increase its accuracy, practicality, safety, and usefulness. These attachments might range from the essential components needed for the firearm to operate to optional additions that improve operation or user experience. The popularity of shooting sports such as IPSC (International Practical Shooting Confederation), 3-Gun competitions, and long-range precision shooting is growing. This drives demand for specialized equipment and accessories tailored for competition use. Furthermore, there is an increasing interest in recreational shooting activities such as hunting, plinking, and target shooting, contributing to steady market growth. Thus, these factors further fuel demand for the Global Shooting and Gun Accessories Market.
The growing interest in shooting sports is a major driver of the global shooting and gun accessories market. Competitive disciplines such as IPSC, 3-Gun, and precision rifle shooting have seen a surge in popularity, encouraging enthusiasts to invest in specialized firearms and high-quality accessories tailored for performance. This trend is supported by the increasing number of shooting events, competitions, and clubs worldwide, fostering a strong community of participants and spectators. Additionally, the rise of recreational shooting activities, including target shooting and hunting, further fuels demand. This interest extends to advanced optics, custom modifications, and enhanced safety gear, catering to both amateur and professional shooters. The expansion of shooting ranges and training facilities globally also provides more opportunities for individuals to engage in these sports, contributing to the sustained growth of the market. Thus, the growing interest for shooting sports enhances consumer spending on firearms and accessories, driving market development on a global scale. However, high development costs and environmental & conservation concerns will stifle market growth during the forecast period 2024-2032.
The key regions considered for the global Shooting and Gun Accessories market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. In 2023, Europe was the largest regional market in terms of revenue. The North America shooting and gun accessories market is driven by various factors, including cultural traditions, legal frameworks, technological advancements, and economic conditions. In the United States and Canada, firearms ownership is deeply ingrained in the cultural fabric, with millions of enthusiasts participating in shooting sports, hunting, and self-defense activities. This cultural affinity fuels consistent demand for firearms and accessories across various segments of the market. One of the primary drivers of this market is the robust demand for self-defense and personal protection. Concerns about personal safety, coupled with legal provisions for concealed carry permits in many states, lead to steady sales of handguns, holsters, and other related accessories. The market in Asia Pacific is expected to grow at the fastest rate over the forecast period.