Shooting Market Size, Share, Growth, and Industry Analysis by Type (Air Rifle and Air Pistol) By Application (Game & Clay Shooting, Hunting and Competitive Sports), Regional Insights, and Forecast From 2024 To 2031

Updated On: 08 April 2024

Shooting Market Report Overview

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The global shooting market size is expected to be USD 3601 million in 2022 and is projected to touch USD 6667.14 million by 2031, exhibiting a CAGR of 6.3% during the forecast period.

Firearms or other projectile weapons, such as bows or crossbows, are discharged during the shooting act or process. The term "shooting" can be used to describe the use of artillery, missiles, darts, grenades, rockets, and darts. A marksman is a shooter who has honed their skills. In hunting, shooting sports, and combat, shooting may occur on a range or in the field.

Air rifles, air pistols, magazines & loaders, targets, as well as grips, shooting sticks, laser lights, and other accessories, are all included in the category of shooting and gun accessories. Since there has been an increase in the use of firearms in the military, law enforcement, and commercial sectors in recent years, gun manufacturers are creating and introducing new models of firearms in an effort to draw in more customers and open up new revenue streams.

COVID-19 Impact: Social Seclusion and Government Guidelines Affected the Market Demands

The global COVID-19 pandemic has been unprecedented and staggering, with shooting experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

In order to stop the spread of the virus, the COVID-19 outbreak compelled governments throughout the world to impose stringent lockdowns and mandate social seclusion. Only a portion of the overall workforce was permitted to work at the factories, which were closed. The result was a substantial disruption in the supply and demand for high-quality firearms and firearm accessories. One of the sectors of the economy that was most severely impacted by the pandemic was the private manufacturing of firearms, which initially saw a decline in investments. But during the coronavirus pandemic, there were a number of riots and conflicts with the government that were seen all over the world, and the law enforcement agencies had to use weapons and other equipment to control the situations. The need for improved shooting and gun accessories is predicted to go up shortly given the huge increase in immunization rates throughout the globe.

LATEST TRENDS

"Greater Preference for Cutting-Edge Technology and Tailored Solutions to Augment the Market "

Most shooting ranges in populated areas are indoor facilities. Indoor ranges provide shelter from the elements and can be manually maintained in an environment with a controlled temperature. Due to growing worries about human safety and general environmental issues, outdoor shooting ranges are usually located far from populated areas. For counterattack combat and live fire training exercises, there is likely to be an ongoing trend in the market toward greater preference for cutting-edge technology and tailored solutions.

Shooting Market Segmentation

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• By Type Analysis

By type, market is segmented into air rifle and air pistol. The air rifle segment will dominate the market in the coming years.

• By Application Analysis

Based on applications, the market is classified into game & clay shooting, hunting and competitive sports. The game & clay shooting segment will lead the global share through 2028.

DRIVING FACTORS

"Rise in Participation in Shooting By the Urban Residents to Propel the Demands "

The expansion of the shooting market is being influenced by the steady rise in the number of urban residents who participate in shooting sports and hunting, as well as the rising number of firearms and ammunition sales over time. Additionally, the state and federal governments of the majority of nations on earth are enticing their citizens, particularly the young, to engage in recreational and shooting sports activities, which is anticipated to boost the shooting market's revenue.

"Growing Number of Women Doing Indoor and Outdoor Shooting to Boost the Market "

Another significant aspect driving the market's expansion is the growing number of women who are shooting both indoors and outdoors. In the following years, it is also anticipated that there will be an increase in the participation of women in sports, the military, and law enforcement. The shooting business is also being driven by an increase in the number of gun owners who must meet the requirements for usage certification.

RESTRAINING FACTORS

"High Installation Costs and Safety Precautions to Hinder the Market Demands"

Investors may be discouraged from making market investments due to the high installation costs of cutting-edge components or integrated modular solutions. The majority of shooting ranges around the world are situated on the outskirts of cities or forest areas. This is done to adhere to general safety procedures and standards set by regulatory bodies in order to run the business, which may also have an impact on the market growth for shooting. The establishment of a shooting range or a live fire training facility is also complicated by the fact that governments and the armed forces are very concerned about the environment. The growth of the market for shooting ranges is being hampered by this factor. Additional factors that are likely to impede market growth include the high cost of shooting upgrades, operations, and maintenance.

Shooting Market Regional Insights

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In 2021, the North American market had a significant market share due to of the U.S.'s significant defense spending, this area dominates the market share. More than 60% of the global market for firearms was accounted for by only one nation. The market will expand across North America as a result of rising personal security concerns brought on by the increasing frequency of mass shooting incidents in the United States. Additionally, the value of the local market is being increased by the presence of important players like General Dynamics Corporation, American Outdoor Brands Inc., Sturm, Ruger & Co., Browning, and others.

Due to increased defense spending in developing nations like China and India, the Asia Pacific market is anticipated to grow at a considerable CAGR. The region's market is anticipated to increase as a result of the escalating border disputes between China and India, rising political upheaval, and rising terrorism.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

List of Market Players Profiled

• Crosman (U.S.)
• Umarex (Germany)
• Gamo (Spain)
• Feinwerkbau (Germany)
• Shanghai Air Gun (China)
• Daisy (Canada)
• Baikal (Moscow)
• Fujian Qingliu (China)
• Anschutz (U.S.)
• Weihrauch (Germany)
• Webley & Scott (UK.)
• Daystate (UK.)
• Hatsan (U.S.)
• Evanix (U.S.)
• BSA Guns (UK.)

REPORT COVERAGE

The market research study examines the worldwide market in detail, focusing on important elements such as leading players, product/services or type, and leading end-use applications. Aside from that, the research analyses major advancements and provides insights into lighting market trends. In addition to the causes indicated above, the paper includes a number of other factors that have contributed to recent growth.