Global Riflescope Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

Global Riflescope Market Overview:

“The global Riflescope Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

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This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.

Riflescope is placed on top of the rifle and helps to improve aim by providing pinpointing and magnifying properties. It is a telescopic sight that provides clear picture compared to the naked eye. Riflescope increases safety as it provides accurate shooting from a great distance and also clear picture of the background. Air-gun scopes, handgun, shotgun and muzzleloader scopes, crossbow scopes, purpose-specific configurations are types of riflescope. Using riflescope, end-user can shoot in low light or in the dark.

Increasing use of riflescope in shooting sports, coupled with growing participations in this sport are major factors driving growth of the global riflescope market. Increasing military budget in emerging economies is another factor fueling growth of the global market. Availability of various types of riflescopes in the market, coupled with its increasing use in hunting activities are factors anticipated to increase demand of rifle scopes. Availability of more technologically advanced riflescope with thermal imaging and increasing its use of deface as well as low enforcement sectors are factors expected to boost growth of the global riflescope market in the near future.

However, stringent government regulations against hunting in many countries and high cost of riflescopes are factors that may hamper growth of the global riflescope market. Nevertheless, rising adoption of new technologies and upgradation of military as well as low enforcement agencies, especially in developing countries can create high revenue opportunities for players in the target market.

Market in Europe expected to accounts for major share in terms of revenue and is expected to maintain its dominance over the forecast period. High participation in shooting sports and hunting are factors driving growth of the global market in this region. Market in North America is expected to account for second highest share in terms of revenue, owing to presence of key players in this region. Additionally, presence of largest military force and high adoption rate of new technology among security agencies are also factors propelling growth of the global market in North America region. Market in Asia Pacific expected tow witness high growth in terms of revenue, followed by Middle East and Africa, and Latin America.

Global Riflescope Market Segmentation:

Segmentation by site type:

• Reflex
• Telescopic

Segmentation by technology:

• Laser
• Electro-Optic
• Thermography

Segmentation by application:

• Military
• Law Enforcement
• Sports
• Hunting

Segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa