Sports Gun Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.38 % |
| Fastest Growing Market | South America |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Sports Gun Market Analysis
The global sports gun market is projected to register a CAGR of 6.38% over the next five years.
- The shooting games are gaining popularity in the Olympics and Commonwealth games, encouraging sports participation worldwide. Additionally, the rising participation of national-level shooting sports by college and school students is significantly driven by several organizations further to raise the rate of participation from the grass-root level is predicted to boost the growth of the sports gun market globally. Sports guns have been gaining a significant market share through the recreational shooting segment and are expected to boost the demand for sports guns during the forecast period.
- The COVID-19 outbreak disrupted the sporting schedule and affected some of the 2020s most significant events, which, in turn, also hampered the market for sports guns on a large scale through such events.
- In the initial phase of covid-19, major international sporting events were canceled or delayed due to the outbreak, including the Tokyo Olympics and Paralympics, The World Cup in rifle/pistol, and the Junior World Championship for rifle, pistol, and shotgun.
- As the COVID-19 cases were decreasing in the mid of 2021, several sports games and events that were delayed were held by maintaining proper COVID-19 restrictions. In 2021 ISSF Junior World Championships was held in Lima, Peru, for Pistol, Rifle, and Shotgun, Tokyo 2020 Paralympic Games were held in 2021, and several other sports games and events appeared this year which is expected to accelerate the growth of the sports gun market globally.
Sports Gun Market Trends
This section covers the major market trends shaping the Sports Gun Market according to our research experts:
Increasing Participation in Shooting Sports
- The increasing participation in shooting sports, such as target shooting, is known to build and enhance physical discipline among athletes. The benefits of shooting sports guns, such as enhancing the ability to focus, and sharpening eyesight and concentration levels, augment the demand for sporting guns worldwide.
- Moreover, apart from competitive sports, sporting guns are also used for recreational purposes for hunting, and paintball is also supporting the market growth. In various countries, interstate sporting events and recreation or sports-related activities in schools and colleges also support the development of the sports gun market.
- The rising consumer interest in deer hunting and other animal hunting in countries like Chile, where hunting is legalized by getting specific certification for hunters, creates a lucrative market opportunity for market players to expand their business in the country. With the growing awareness of the benefits of shooting sports, such as enhancing the ability to focus and sharpen eyesight, concentration levels are increasing the demand for sporting guns worldwide.
Asia-Pacific Region Witness Fastest Growth Rate
- Asia-Pacific regions contribute a significant share in the sports gun market owing to the increasing participation in Asian sports games and several other sports events observing stable demand for sports guns. In Asia-Pacific, several countries were involved in shooting sports or other shooting games, such as self-defense training.
- The rising interest of people in shooting sports boosted the establishment of the Philippine Practical Shooters Association (PPSA), and a significant rise in the sports gun market has been observed.
- Nonetheless, the market is witnessing an upswing, owing to the people of Japan's interest in shooting sports which encourages them to participate in the Olympic games, and consequently, purchasing sports guns is rising, propelling the growth of the sports gun market.
- Moreover, in India, "Khelo India" was an initiative of the Government of India to teach a sporting culture among its population, which has increased the demand for much sporting equipment, thus, benefiting the sports gun market.
Sports Gun Industry Overview
The global sports gun market is highly competitive, with various regional and international players holding significant shares and participating in the market's growth. The major players expanding their business worldwide in the sports gun market are Sturm, Ruger & Co. Inc., American Outdoor Brands Inc., Remington Arms Company, LLC., Carl Walther GmbH, and Beretta Holding.
Players are also focusing on expanding their product portfolio by understanding the various requirements of the sports players. Therefore, they are launching multiple sports guns to appeal to many people. The manufacturer is majorly concentrating on enhancing their product quality by merger and acquisition and product innovation to obtain a competitive edge over other players in the market. Advanced distribution networks and manufacturing expertise give an upper edge to the manufacturers to expand their range of products worldwide.
Sports Gun Market Leaders
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Sturm, Ruger & Co., Inc.
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American Outdoor Brands Corporation
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Remington Arms Company, LLC.
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Carl Walther GmbH
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Beretta Holding
*Disclaimer: Major Players sorted in no particular order
Sports Gun Market News
- December 2022: Sturm, Ruger & Company, Inc. launched the newest addition to its Lite Rack pistols, the Ruger Security-380. The Security-380, chambered in.380 Auto, is fully featured, the perfect size, and is a reasonably priced pistol.
- November 2022: Beretta Holdings S.A. announced the investment of USD 60 million into a new manufacturing unit in the United States. Following its recent acquisition of Norma Precision, Beretta Holding Group planned to further strengthen its position in the United States by investing USD 60 million in a cutting-edge ammunition manufacturing and distribution plant in Savannah, Georgia.
- February 2021: Beretta Holding announced an agreement to acquire 100 percent of luxury brand Holland & Holland Ltd., which offers the world's finest handmade rifles and shotguns. The company signed this agreement to expand its business with this luxury brand worldwide.
Sports Gun Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Rifle
5.1.2 Pistol
5.1.3 Shotgun
5.2 By Distribution Channel
5.2.1 Offline Retail Stores
5.2.2 Online Retail Stores
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Russia
5.3.2.5 Italy
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle East and Africa
5.3.5.1 South Africa
5.3.5.2 Saudi Arabia
5.3.5.3 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Position Analysis
6.3 Company Profiles
6.3.1 Sturm, Ruger & Co. Inc.
6.3.2 American Outdoor Brands Inc.
6.3.3 J.G. ANSCHUTZ GmbH & Co. KG
6.3.4 Remington Arms Company LLC
6.3.5 Carl Walther GmbH
6.3.6 BRS Outdoor Sports Holdings LLC (Daisy Outdoor Products)
6.3.7 Beretta Holding
6.3.8 Cannae Holdings Inc. (Colt's Manufacturing Company LLC)
6.3.9 Compass Diversified Holdings
6.3.10 Olympic Arms Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Sports Gun Industry Segmentation
A sporting gun can be defined as a non-lethal weapon that consists pistol, rifle, and shotgun, and it is being utilized for recreational and competitive shooting purposes.
The global sports gun market is segmented by product type, distribution channel, and geography. Based on product type, the market is segmented into rifles, pistols, and shotguns. By distribution channel, the market is segmented into offline retail stores and online retail stores. Based on geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa.
For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).
| By Product Type | |
| Rifle | |
| Pistol | |
| Shotgun |
| By Distribution Channel | |
| Offline Retail Stores | |
| Online Retail Stores |
| Geography | ||||||||
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Sports Gun Market Research FAQs
What is the current Sports Gun Market size?
The Sports Gun Market is projected to register a CAGR of 6.38% during the forecast period (2024-2029)
Who are the key players in Sports Gun Market?
Sturm, Ruger & Co., Inc., American Outdoor Brands Corporation, Remington Arms Company, LLC. , Carl Walther GmbH and Beretta Holding are the major companies operating in the Sports Gun Market.
Which is the fastest growing region in Sports Gun Market?
South America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Sports Gun Market?
In 2024, the North America accounts for the largest market share in Sports Gun Market.
What years does this Sports Gun Market cover?
The report covers the Sports Gun Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Sports Gun Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Sports Guns Industry Report
Statistics for the 2024 Sports Guns market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Sports Guns analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Sports Guns Market Report Snapshots
