Riflescope Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Global Riflescopes Market Growth and Revenue. The Market is Segmented by Sight Type (Telescopic and Reflex), Application (Sporting and Hunting, Law Enforcement, and Military), and Geography (North America, Europe, Asia Pacific, and the Rest of the World). The market size and forecasts are provided by value (USD million) for all the above segments.

Riflescope Market Size

Riflescopes Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
CAGR > 2.50 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Riflescopes Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Riflescope Market Analysis

The riflescopes market is projected to register a CAGR of more than 2.5% during the forecast period.

  • The growth in military spending to support the soldier modernization programs of various countries is propelling investments in the procurement of new riflescopes that offer higher magnification and accuracy of the target. 
  • The rise in recreational shooting activities, like sporting and hunting, drives the growth of riflescopes. Due to the presence of a higher number of manufacturers (mostly regional) in the market, the market is highly fragmented. Companies are developing new riflescopes integrated with advanced technologies to increase accuracy.

Riflescope Market Trends

The Military Segment is Expected to Register the Highest Growth During the Forecast Period

  • The military segment is expected to witness the highest growth during the forecast period, owing to the modernization programs of various countries and the rise in defense expenditures across all countries. The procurement of new and advanced infantry weaponry, like sniper rifles, light machine guns, and automatic weapon systems, is expected to drive the segment's growth.
  • For instance, in April 2022, the US Army awarded a contract to SIG Sauer for two new soldier weapons, the XM5 rifle and the XM250 automatic rifle. In January 2021, the Indian Army received the first consignment of 6,000 Israeli Negev Light Machine Guns out of the 16,000 ordered under the Fast Track Procedure.
  • Such robust plans are anticipated to generate demand for new and advanced riflescopes during the forecast period. Also, the procurement of advanced scopes by the armed forces for higher accuracy and effectiveness to hit the target may propel growth during the forecast period.
Riflescopes Market: Top Defense Spenders (USD Billion), Global, 2021

Asia-Pacific is Projected to Register the Highest CAGR During the Forecast Period

  • Asia-Pacific is projected to register the highest CAGR during the forecast period, owing to the rapid military modernization plans of countries in the Asia-Pacific region, such as China, India, and South Korea, some of the biggest defense spenders in the world. The major emerging economies in the region, like China and India, are aggressively increasing their investments in the defense sector for soldier modernization, owing to territorial issues and geopolitical tensions. 
  • For instance, in January 2022, India announced rapidly upgrading its defense capabilities with 93 military modernization projects worth USD 18.4 billion. In addition, in December 2021, India and Russia signed a deal to manufacture AK-203 Assault rifles in India. Such initiatives by the countries' governments to increase the capabilities of their frontline troops of armed forces are anticipated to generate demand for new riflescopes during the forecast period.
Riflescopes Market - Growth Rate by Region (2023 - 2028)

Riflescope Industry Overview

The riflescope market is highly fragmented, with several players accounting for significant amounts of shares in the market. Some of the prominent companies in the riflescope market are Burris Company, Hawke Optics, Hensoldt, Leupold & Stevens Inc., and Nightforce Optics. Several companies have formed long-term partnerships with the armed forces to upgrade and enhance the battlefield capabilities of infantry soldiers and develop future soldier modernization programs of defense ministries. Companies are investing heavily in R&D to innovate new and advanced products and technologies that may help the soldiers on the frontline have a tactical advantage over the rivals.

Riflescope Market Leaders

  1. Hawke Optics

  2. Hensoldt

  3. Leupold & Stevens Inc.

  4. Burris Company

  5. Nightforce Optics

*Disclaimer: Major Players sorted in no particular order

Riflescopes Market Concentration
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Riflescope Market News

  • February 2022: Leupold introduced the new Patrol 6HD riflescope for dealing with mid-range threats and offers a 6:1 zoom ratio with a true 1-6 magnification range.
  • June 2022: Hensoldt's business unit Hensoldt Optronics GmbH and Theon Sensors SA established a joint company called Hensoldt Theon NightVision GmbH.

Riflescope Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Application

      1. 5.1.1 Sporting and Hunting

      2. 5.1.2 Law Enforcement

      3. 5.1.3 Military

    2. 5.2 Sight Type

      1. 5.2.1 Telescopic

      2. 5.2.2 Reflex

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Russia

        5. 5.3.2.5 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 India

        3. 5.3.3.3 Japan

        4. 5.3.3.4 South Korea

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 Rest of the World

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 Leupold & Stevens Inc.

      2. 6.2.2 Bushnell Corporation

      3. 6.2.3 Burris Company

      4. 6.2.4 Scmidth & Bender GmbH & Co.

      5. 6.2.5 Hawke Optics

      6. 6.2.6 BSA Optics

      7. 6.2.7 Nikon Corp.

      8. 6.2.8 Trijicon Inc.

      9. 6.2.9 Carl Zeiss AG

      10. 6.2.10 Nightforce Optics

      11. 6.2.11 Sig Sauer Inc.

      12. 6.2.12 FLIR Systems Inc.

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Riflescope Industry Segmentation

The riflescope is used for aiming at the target, which is at a distance from the shooter. 

The riflescope market is segmented by application and sight type. By application, the market is segmented into law enforcement, military, and sporting and hunting. By sight type, the market is segmented into telescopic and reflex. By Geography, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. 

The report offers the market size and forecasts by value (USD Million) for all the above segments.

Application
Sporting and Hunting
Law Enforcement
Military
Sight Type
Telescopic
Reflex
Geography
North America
United States
Canada
Europe
Germany
United Kingdom
France
Russia
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Rest of the World
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Riflescope Market Research FAQs

The Riflescopes Market is projected to register a CAGR of greater than 2.5% during the forecast period (2024-2029)

Hawke Optics , Hensoldt , Leupold & Stevens Inc. , Burris Company and Nightforce Optics are the major companies operating in the Riflescopes Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Riflescopes Market.

The report covers the Riflescopes Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Riflescopes Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Riflescope Industry Report

The Global Riflescopes Market is experiencing significant growth and revenue expansion. This market is segmented by sight type, including telescopic and reflex, and by application, such as sporting and hunting, law enforcement, and military. The geographical segmentation includes North America, Europe, Asia Pacific, and the Rest of the World. The market size and forecasts are provided by value for all segments.

The market analysis indicates a robust market growth, driven by increasing demand across various applications. This market report provides a comprehensive industry overview, examining key market trends and market segmentation. The report highlights the market value and market leaders, offering insights into the competitive landscape.

Industry reports and industry research are crucial for understanding the market forecast and market outlook. The report includes detailed industry analysis, industry information, and industry statistics, which are essential for making informed business decisions. The industry size and industry sales data are also covered, providing a complete picture of the market dynamics.

Market data and market predictions are provided to help stakeholders understand the future market trends and growth rate. The report example and report PDF offer a detailed market review, making it accessible for research companies and other interested parties.

In summary, this market research provides a thorough examination of the riflescopes market, including market segmentation, market growth, and market overview. The industry outlook and industry trends discussed in the report are vital for anyone looking to gain a deeper understanding of this market.

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Riflescope Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)