Firearm Sight Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 2.22 Billion |
| Market Size (2029) | USD 2.65 Billion |
| CAGR (2024 - 2029) | 3.59 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Firearm Sight Market Analysis
The Firearm Sight Market size is estimated at USD 2.22 billion in 2024, and is expected to reach USD 2.65 billion by 2029, at a CAGR of 3.59% during the forecast period (2024-2029).
The global firearm sights market is steadily growing, fueled by heightened demand for precision shooting across the military, law enforcement, and civilian sectors. Technological advancements, notably the integration of digital sighting systems and night vision capabilities, further propel market expansion. Additionally, worldwide defense spending increases and the popularity of shooting sports plays a pivotal role in this growth.
Technological innovations are at the forefront of the evolving firearm sight market. Advanced sighting systems, including holographic, red dot, and laser sights, are being developed to enhance accuracy and targeting efficiency. A notable trend is integrating augmented reality (AR) and artificial intelligence (AI) into these systems, providing real-time data analytics and heightened situational awareness.
Challenges loom in the form of stringent government regulations on firearm ownership, the high costs associated with advanced sighting systems, and the prevalence of counterfeit products. Yet, opportunities are ripe, especially with the growing adoption of firearm sights in emerging markets, technological advancements, and surging demand from non-military sectors like sports shooting and hunting. Companies adept at navigating these challenges while seizing growth opportunities are poised for success in this competitive landscape.
Firearm Sight Market Trends
Sniper Rifles Segment to Showcase Remarkable Growth During the Forecast Period
The surge in hostile incidents has made countries shift their focus to developing combat forces specialized in counter-radical operations. The diffusion of hostile situations in countries like Iraq and Syria may move the hotspot of terrorist movements away from the Middle East. In this regard, countries are preparing to counter undesirable circumstances by developing specialized elite forces.
As such, the members of the special forces undergo rigorous training in various activities, like sniping, parachuting, infiltration, exfiltration, assault, intelligence gathering, patrolling, tactical shooting, stress firing, reflex shooting, survival skills, linguistic training, logistic training, and trade-craft training, among others. Several armed forces are taking measures to bolster their armed forces. In December 2023, Russia issued a decree to reinforce its armed forces by adding 170,000 servicemen. This augmentation responds to perceived threats, mainly linked to Russia's special military operations and NATO's ongoing expansion.
Snipers are being used as force multipliers in special operations. In September 2023, CARACAL and its subsidiary MERKEL, a German producer of luxury hunting rifles, unveiled three unique HELIX DELUXE VIP hunting rifles featuring hand-engraved, arabesque designs on the rifle action, pistol grip cap and charging lever. Ach rifle has a distinctive, UAE-inspired hand-engraved motif. Hence, the growing requirements for force multipliers in special missions are leading the armed forces to strengthen their sniper forces, creating demand for firearm sights.
Asia-Pacific to Witness Highest Growth During the Forecast Period
In recent years, the Asia-Pacific region has seen a surge in border disputes, prompting increased military spending. Countries in the region are investing in advanced sights for firearms, aiming to equip their militaries with cutting-edge capabilities for future combat needs. As per a 2023 report by the Stockholm International Peace Research Institute (SIPRI), China secured its position as the world's second-largest defense spender, allocating approximately USD 296 billion. India held fourth place with defense spending of USD 83.6 billion.
Numerous defense companies are collaborating with defense personnel to provide advanced firearm sights. The market is poised for growth, bolstered by a burgeoning domestic production base and the defense sector's increasing acquisition of advanced assault and sniper rifles. For example, in December 2023, India's Defense Acquisition Council (DAC) greenlit the purchase of an extra 70,000 SIG Sauer SIG716 7.62×51 mm rifles for the Indian Army, with an estimated price tag of USD 100 million. This move follows a 2019 deal in which 72,400 SIG716 rifles were procured for USD 90 million, expedited under the Fast Track Procurement procedure.
Such acquisitions are anticipated to continue during the forecast period, fueling the growth of the firearm sight market in the region.
Firearm Sight Industry Overview
The firearm sight market is semi-consolidated, with numerous players engaged in R&D and producing diverse firearm sights tailored to end-user needs. Key players in this market include Bushnell (Vista Outdoor Inc.), Burris Company (Beretta Holding S.A.), Sig Sauer, Inc., Leonardo DRS, Inc. (Leonardo S.p.A.), and Aimpoint AB, among others.
In recent years, defense companies have ramped up R&D investments to develop advanced firearm sights tailored for defense personnel globally. Additionally, these companies are forging partnerships with defense personnel worldwide, integrating their needs into products. This strategy differentiates their offerings and positions them to capture a larger market share. The incorporation of cutting-edge technologies, like artificial intelligence, is poised to unlock new business avenues, fueling significant market growth during the forecast period.
Firearm Sight Market Leaders
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Bushnell (Vista Outdoor Inc.)
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Sig Sauer, Inc.
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Aimpoint AB
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Burris Company (Beretta Holding S.A.)
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Leonardo DRS, Inc. (Leonardo S.p.A.)
*Disclaimer: Major Players sorted in no particular order
Firearm Sight Market News
- February 2024: Viking Arms Ltd finalized a contract with Yorkshire and Humber Police Procurement (YHPP) for supplying Hand Pistol Sights, valued at GBP 52,300.
- January 2024: Burris has unveiled its newly reimagined Eliminator 6. With just a button press, the Eliminator 6 delivers swift and accurate ranging, reaching over 2,000 yards for reflective targets and 1,400 yards for deer.
Firearm Sight Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Buyers/Consumers
4.4.2 Bargaining Power of Suppliers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Sight Type
5.1.1 Iron or Open Sights
5.1.2 Peep Sights
5.1.3 Telescopic Sights
5.1.4 Reflex Sights
5.1.5 Laser Sights
5.1.6 Dot Sight
5.2 Weapon Type
5.2.1 Pistols
5.2.2 Assault Rifles
5.2.3 Sniper Rifles
5.3 End-User
5.3.1 Hunting
5.3.2 Law Enforcement
5.3.3 Military
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.2 Europe
5.4.2.1 United Kingdom
5.4.2.2 Germany
5.4.2.3 France
5.4.2.4 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 India
5.4.3.3 Japan
5.4.3.4 Rest of Asia-Pacific
5.4.4 Latin America
5.4.4.1 Brazil
5.4.4.2 Mexico
5.4.4.3 Rest of Latin America
5.4.5 Middle East and Africa
5.4.5.1 Saudi Arabia
5.4.5.2 United Arab Emirates
5.4.5.3 Qatar
5.4.5.4 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Bushnell (Vista Outdoor Inc.)
6.2.2 Aimpoint AB
6.2.3 Black Spider Optics
6.2.4 Burris Company (Beretta Holding S.p.A.)
6.2.5 Sheltered Wings, Inc.
6.2.6 DONG IN OPTICAL
6.2.7 Wing Tactical, LLC
6.2.8 Sig Sauer, Inc.
6.2.9 EOTECH, LLC
6.2.10 Sightmark
6.2.11 Holosun Technologies, Inc.
6.2.12 Leonardo DRS, Inc. (Leonardo S.p.A)
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Firearm Sight Industry Segmentation
Firearm sights, also known as gunsights, are optical devices that aid in the aiming of a firearm. They are mainly used to assist in the precise visual alignment of ranged weapons with the intended target.
The firearm sight market is segmented into sight type, weapon type, end user, and geography. By sight type, the market is segmented into iron or open sights, peep sights, telescopic sights, reflex sights, laser sights, and dot sights. By weapon type, the market is segmented into pistols, assault rifles, and sniper rifles. By end-user, the market is segmented into hunting, law enforcement, and military. The report also covers the market sizes and forecasts for the firearm sight market in major countries across different regions. For each segment, the market size is provided in terms of value (USD).
| Sight Type | |
| Iron or Open Sights | |
| Peep Sights | |
| Telescopic Sights | |
| Reflex Sights | |
| Laser Sights | |
| Dot Sight |
| Weapon Type | |
| Pistols | |
| Assault Rifles | |
| Sniper Rifles |
| End-User | |
| Hunting | |
| Law Enforcement | |
| Military |
| Geography | ||||||
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Firearm Sight Market Research Faqs
How big is the Firearm Sight Market?
The Firearm Sight Market size is expected to reach USD 2.22 billion in 2024 and grow at a CAGR of 3.59% to reach USD 2.65 billion by 2029.
What is the current Firearm Sight Market size?
In 2024, the Firearm Sight Market size is expected to reach USD 2.22 billion.
Who are the key players in Firearm Sight Market?
Bushnell (Vista Outdoor Inc.), Sig Sauer, Inc., Aimpoint AB, Burris Company (Beretta Holding S.A.) and Leonardo DRS, Inc. (Leonardo S.p.A.) are the major companies operating in the Firearm Sight Market.
Which is the fastest growing region in Firearm Sight Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Firearm Sight Market?
In 2024, the Asia Pacific accounts for the largest market share in Firearm Sight Market.
What years does this Firearm Sight Market cover, and what was the market size in 2023?
In 2023, the Firearm Sight Market size was estimated at USD 2.14 billion. The report covers the Firearm Sight Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Firearm Sight Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Firearm Sight Industry Report
Statistics for the 2024 Firearm Sight market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Firearm Sight analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
