Thursday 20 December 2018, Amsterdam
According to a new market intelligence report titled "Global Sports Gun Market, Analysis and Forecast, 2018 - 2023", the prominent application of guns is across military and law enforcement industries. Guns are lethal and are mostly used in military for in case of a war. The law-enforcement agencies also make use of guns for applications for public safety. However, sport is another category in which guns have been used for shooting activities. The shooting sports is one of the most prominent activities which has witnessed increased participation across the globe. There are various shooting activities such as hunting, target shooting, and field shooting, among others. Each of the shooting activities make use of various types of sports gun depending upon the requirement. Handguns are the most important type of gun used in shooting sports. There has been growth in the number of guns manufactured across the globe due to the growing number of international and national events organized by the sports organizations. For instance, according to the Bureau of Alcohol, Tobacco, Firearms and Explosives annual report 2016, total number of guns manufactured in the U.S. increased from 9,358,661 units in 2015, to 11,497,441 units in 2016.
There are many shooting sports organizations such as USA Shooting (USAS), United States Practical Shooting Association (USPSA), China Practical Shooting Association, and British Association for Shooting and Conservation (BASC), among others, that are continuously putting their efforts to promote shooting as a sport across the globe. Furthermore, the government of various nations such as India, Australia, the U.S., and China, among others are providing funds and running programs to promote participation in sports such as shooting. These programs are focused on setting up more public shooting ranges and provide people from various backgrounds access to shooting ranges. Further, state governments in Australia are increasing funding in programs that are focused on encouraging people to participate in shooting sports.
According to the analysis, the global sports gun market was estimated to be approximately 1.97 billion
The global sports gun market is categorized on the basis of gun type that includes pistols, rifles, revolvers, and shotguns. The revolvers gun type is estimated to grow at the highest CAGR of 4.36%
during the forecast period, 2018-2023. The global sports gun market is also classified on the basis of gun by caliber types that includes 9mm, 0.38 caliber, 12 gauge, and 0.38 spec, among others.
According to Swati Chaturvedi, Senior Research Analyst, “North America is one of the most prominent regions for the growth of the global sports gun market. In 2017, North America dominated the global sports gun market with the U.S. acquiring the maximum market share, globally. However, the geographical analysis of this market unveils an immense potential for its growth in the Asia-Pacific region. China acquired the largest market share, whereas, India is expected to witness the highest growth rate in this region during the forecast period, 2018-2023. Similarly, the European market is also likely to witness numerous growth opportunities during the forecast period 2018-2023.”
The market report provides a detailed analysis of the recent trends influencing the market, along with a comprehensive study of the future trends and technological developments. It also includes a competitive analysis of the leading players in the industry, including corporate overview, financial summary, and SWOT analysis. The overall market has been segmented by gun type which is further segmented into its respective caliber types. Pistols, rifles, revolvers, and shotguns covered are part of gun type segmentation in the present study. The report also includes a comprehensive section on the geographical analysis including country analysis for more than 10 different countries.
This report is a meticulous compilation of research on more than 50 players in the sports gun ecosystem and draws upon the insights from in-depth interviews with the key opinion leaders of the leading companies, market participants, and vendors. The report has profiles of around 15 companies which includes Hatsan Inc., Browning International S.A., SIG SAUER, Inc., Colt’s Manufacturing Company, Beretta, Ruger Firearms, Taurus Holdings Inc, Shaoxing Snow Peak Air Gun Factory, Glock Inc., Remington Outdoor Company, Savage Arms, American Outdoor Brands Corporation (Smith & Wesson), Crosman Corporation, Dick’s Sporting Goods, and Sturm, Ruger &Co.
Key questions answered in the report:
- What are the trends in the global sports gun market across different regions?
- What are the major driving forces that are expected to increase the demand for the global sports gun market during the forecast period, 2018-2023?
- What are the major challenges inhibiting the growth of the global sports gun market?
- What is the revenue generated by the global sports gun market by platform in 2017, and what will be the estimates by 2023?
- Which gun type (pistols, rifles, revolvers, and shotguns) of the global sports gun market will dominate in the coming years?
- What is the revenue generated by each type of the sports gun by caliber?
- Who are the key players in the global sports gun market?
- What are the new strategies adopted by the existing market players to make a mark in the industry?
- What major opportunities do the sports gun manufacturers foresee?
- What is the competitive strength of the key leading players in the global sports gun market?
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