Summary
Major players in the shooting and gun accessories market are Fabbrica d’Armi Pietro Beretta SpA, FN Herstal, Heckler & Koch GmbH, Remington Ammunition, Savage Arms, Sturm Ruger & Co Inc., Taurus International Manufacturing Inc., Webley & Scott, Weihrauch & Weihrauch Sport GmbH & Co KG, Umarex USA, Gamo, Feinwerkbau GmbH, Daisy Outdoor Products, ahg-Anschütz Handels GmbH, and Hatsan Arms Company.
The global shooting and gun accessories market is expected to grow from $6.68 billion in 2022 to $7.15 billion in 2023 at a compound annual growth rate (CAGR) of 7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many markets across the globe. The shooting and gun accessories market is expected to grow to $9.30 billion in 2027 at a CAGR of 6.7%.
The shooting and gun accessories market consists of sales of variable pump air rifles, break action air rifles, nitro piston air rifles, nitro piston 2 air rifles, precharged pneumatic (PCP) rifles, and CO2 air rifles as well as air pistols including CO2 pellet pistol, CO2 BB pistol, blowback air pistol, PCP air pistol.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
A gun is a weapon with a metal tube through which projectiles such as bullets, shells, or other objects are fired with explosive power.The act of firing a projectile from a gun is known as shooting.
Gun accessories are tools or additions that help a gun perform better or function more precisely. Sights, scopes, silencers, compensators, and laser pointers are some of the accessories.
North America was the largest region in the shooting and gun accessories market in 2022. The regions covered in the shooting and gun accessories report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main product types of shooting and gun accessories are air rifles, air pistols, and others.An air rifle refers to a compressed air gun that shoots pellets down a rifled barrel.
It works by using the force of pressurized air that is produced by an engine and sent into a chamber, where it is rifled into high-speed projectiles.Pellet guns, usually known as BB guns as they fire plastic pellets called BBs, are the most popular variety of air rifles.
These are distributed online and offline and are used in law enforcement, and competitive sports.
A rise in territorial activities throughout the world is expected to propel the growth of the shooting and gun accessories market going forward.Guns and accessories are used for a variety of purposes, such as self-defense, law enforcement, hunting, sports shooting, and others.
The rise in territorial activities throughout the world will drive the demand for shooting and gun accessories that support the growing territorial activities. For instance, in June 2022, according to a report published by the United Nations High Commissioner for Refugees, a Switzerland-based agency of the UN tasked with assisting and defending refugees, globally, 89.3 million people were displaced from their homes by the end of 2021 because of war, violence, fear of persecution, and human rights violations. This is the highest number since World War II and more than double the 42.7 million individuals who were still forcibly displaced a decade ago. More than doubling from 10.5 million a decade ago, the number of refugees climbed during the year, from 20.7 million in 2020 to 21.3 million at the end of 2021. Therefore, the rise in territorial activities throughout the world will fuel the growth of the shooting and gun accessories market.
Product innovation in gun accessories is a key trend gaining popularity in the shooting and gun accessories market.Major companies operating in the market are developing innovative products such as lightweight rifles, accessories with compact designs, guns, holographic sighting systems, tactical lasers, illuminators, thermal imaging equipment, and others to sustain their position in the market.
For instance, in March 2021, Dark Storm Industries LLC, a US-based firearms manufacturer, launched the DS-25 Typhoon Sport Utility Rifle, which is small and light. The new .308 semi-auto rifle makes use of several AR-15 mil-spec-style parts. The Typhoon features a free-float M-LOK forearm, an ambidextrous charging handle, and safety selector in addition to a billet 7075 aluminum upper and lower receiver coupled with a nitride 4150 barrel. The weapon’s non-NFA variant introduces the.308 cartridges to the subcompact truck gun market with its shortened 12.5”-barrel, front vertical handle, and SBA3 brace.
In May 2021, ?eskázbrojovka Group SE (CZG), a Czech Republic-based manufacturer of firearms, acquired Colt Holding Company LLC for an undisclosed amount.With this acquisition, both businesses anticipate the transaction to result in considerable operational, financial, and research and development synergies.
Additionally, the agreement gives CZG more production capacity and prepares the company to dominate the weapons industry and become a significant partner for military, law enforcement, and commercial clients. Colt Holding Company LLC is a US-based designer, developer, and manufacturer of weapons and accessories
The countries covered in the shooting and gun accessories market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The shooting and gun accessories market research report are one of a series of new reports that provides shooting and gun accessories market statistics, including shooting and gun accessories industry global market size, regional shares, competitors with a shooting and gun accessories market share, detailed shooting and gun accessories market segments, market trends and opportunities, and any further data you may need to thrive in the shooting and gun accessories industry. This shooting and gun accessories market research report deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
