The Shooting And Gun Accessories Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Shooting And Gun Accessories Global Market Report 2024, The shooting and gun accessories market size has grown strongly in recent years. It will grow from $7.13 billion in 2023 to $7.62 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to military and law enforcement demand, sports shooting trends, media influence, online retail growth, educational initiatives.
The shooting and gun accessories market size is expected to see strong growth in the next few years. It will grow to $10.14 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to climate and environmental concerns, global security threats, e-commerce expansion, increased urbanization, social media influence. Major trends in the forecast period include rise of smart accessories, subscription-based models, innovations in materials, augmented reality (AR) integration, health and fitness integration.
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, 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.
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The shooting and gun accessories market covered in this report is segmented –
1) By Type: Air Rifle, Air Pistol, Other Types
2) By Distribution: Online, Offline
3) By End-Use: Law Enforcement, Competitive Sports
Major companies operating in the shooting and gun accessories market are developing advanced technologies, such as biometric guns, to meet larger customer bases, increase sales, and increase revenue. A biometric gun is a firearm equipped with biometric recognition technology to ensure that only authorized individuals can operate or access the weapon. For instance, in April 2023, Biofire Technologies, a US-based firearm manufacturing company, launched the 9mm smart handgun. Distinguished by its unique features, the smart gun operates effectively across diverse conditions, accommodating users wearing gloves or face coverings. Customizable LED indicators clearly signal the gun’s armed status, and it boasts an automatic locking mechanism when not in use. Notably, the firearm relies on biometric data confined exclusively within the weapon, devoid of onboard Wi-Fi, Bluetooth, or GPS. Integrated infrared (IR) sensors in the grip maintain firearm readiness when held by an authorized user, eliminating the need for constant biometric authentication. The gun’s distinctiveness extends to its customization options, offering 64 combinations of polymer, trigger, and magazine release colors. Furthermore, the smart gun caters to individual preferences with availability in both right-handed and left-handed models, along with customizable grip-size alternatives.
The shooting and gun accessories market report table of contents includes:
1. Executive Summary
2.Shooting And Gun Accessories Market Characteristics
3.Shooting And Gun Accessories Market Trends And Strategies
4.Shooting And Gun Accessories Market analysis
5.Shooting And Gun Accessories Market Size And Growth
6. Shooting And Gun Accessories Segmentation
7. Shooting And Gun Accessories Regional And Country Analysis
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27.Shooting And Gun Accessories Competitive Landscape And Company Profiles
28.Shooting And Gun Accessories Key Mergers And Acquisitions
29.Shooting And Gun Accessories Future Outlook and Potential Analysis
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