Sport Guns Market Size, Share & Industry Analysis, By Product Type (Rifle, Pistol, Shotgun), By Application (Competitive Shooting, Recreational Sport), By Material Use (Aluminium, Plastic, Wood, Others) And Regional Forecast, 2024-2032

Nowadays, sport guns are becoming progressively popular as people are increasingly drawn towards shooting activities. Increase eye coordination, assisting to upsurge mental discipline, and less harmful than military firearm are the key attributes of the usage of the product. The rising growth of theme and amusement parks leading to an increase in commercialization of the product as a part of their recreational game is helping to boost the demand for sport guns. For instance, according to the data issued by the International Associations of Amusement Parks and Attraction, is stating that in 2018 the global theme and amusement park market has grown by 6.8 percent. Additionally, the rising demand for the product for scouts and guides activities is likely to help upsurge in gaining more traction.

The large sporting events, such as the Olympic, Common Wealth Games, Asia Games, and others, including shooting activity, is helping to upsurge the demand for the product. The increasing number of people being influence by video games and action movies to take up the shoot as a hobby is likely to propel the growth of the market. For instance, according to the American Institute of Physics data release, May 2019, is proclaiming that three-quarters of American households own at least one gamer in their homes and 70 percent of the family has a kid who plays video games. Additionally, the growing demand for the product by shooting academy around the world has a significant contribution to market growth.

Nevertheless, the high cost of most sport guns is repelling a large number of people especially for people living in third-world countries is restraining the market growth

Key Market Driver -

The global prominent sporting events including shooting is acting as a driving factor for the market growth

Key Market Restraint -

The high cost of the product is acting as a restraining factor fro the market growth

Key Players Covered:

Herstal SA, Ltd, Sturm, Ruger& Co.Ltd, Remington Arms Company, LLC, Howa Machinery, American Outdoor Brands Corporation, and others are the key companies operating in the sport guns market.

The sport guns market is segmented into by product type, application, material use, and geography.

On the basis of product type, the market is fragmented into rifles, pistols, and shotguns. Rifle is estimated to be the leading segment owing to rifle being able to offer an accurate and long-range shot is making it more preferable as compared to other segments.

Based on application, the market is bifurcated into competitive shooting and recreational sport. Recreational sport is projected to hold a larger share on account of the larger number of user are not the professional shooter who are participating in competitive shooting. Likewise, the popularity of the usage of the product as a home recreation boosted the demand in the recreational segment.

By material use, the market is grouped into aluminum, plastic, wood, and others(alloy, steel). Wood is anticipated to be the prominent market due to the product being durable, long-lasting quality, possessing firmness which provides less shock while shoot makes it more desirable than other segment types.

Regional Analysis:

On the basis of region, the market is divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa.

North America is anticipated to be the prominent market shareholder and is projected to continue throughout the forecast period of 2020-2027. The rising number of people involved in paintball activity is resulting in to upsurge in the need and demand for the product.  For instance, according to the data issued by the Sport and Fitness Industry Association on ’Paintball Participation Report’, is declaring that 3,096,000 people are estimated to be participating in paintball in 2019. Additionally, the rising popularity of owning a gun by the population, especially in the United States, is estimated to foster the consumption of the product. For instance, according to the data issued by CFR.Org, is stating that the United States is estimated to make a contribution 46 percent of the global civilian who owned a gun.

Asia Pacific is projected to display a vital presence in sport guns owing to the increase in investment made on the military by the countries such as India, and China has resulted to escalate the demand for sports guns for training and war simulation purposes. For instance, according to the data issued by SIPRI.Org, is stating that in 2019 China’s military spending is estimated to be USD 261 billion and India is USD 71.1 billion. Additionally, the rising number of sports gun e-commerce platforms such as Airsoft Gun India, Made in China, Airsoft Shop Japan, and others increasingly displaying attractive sport guns is helping to boost the market growth.

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Segmentation

Key Industry Developments-

• In December 2019, PE Firm announced the acquisition of clay pigeon shooting firm in Northampton and Rugby.


• February 2019, BSA declared the introduction  of its eight new sport guns at the British shooting show.Tis includes two new BSA PCPs, three new Gamo PCPs and three new Winchesters.