DUBLIN, June 03, 2015 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/g32rq2/shooting_range) has announced the addition of the "Shooting Range Market by Product, Sub-products, Indoor Targets, Outdoor Targets, Application & Geography - Forecast to 2020" report to their offering.
The market is projected to reach $1,080 Million by the end of 2020, at CAGR of 8.35% from 2015 onwards
A number of factors including increasing demand for enhanced training, technological advancement in shooting range designs, and integration of shooting ranges with other training methods are expected to drive the market for shooting ranges.
On the basis of region, this market is classified into five, namely, North America, Europe, Asia-Pacific, the Middle East, and Rest of the World. In 2015, the global indoor shooting range market is estimated to be dominated by Europe and the global outdoor shooting range market is estimated to be dominated by North America. A number of factors such as high defense spending have led to growth in the shooting ranges market in North American countries.
The virtual simulators segment held the largest market share in the indoor shooting range market, in 2014. It is also projected to grow at the highest CAGR of 12.49% by 2020. The military application segment is projected to account for a large market share of 59.81% during the forecast period.
New contracts are the key strategy adopted by the major players to develop their position in the global shooting ranges market. Strategies such as partnerships, agreements, collaborations, joint ventures, and acquisitions were also adopted by a significant number of market players to strengthen their product portfolios and to expand their geographic presence.
Key players in this market include SAAB Training and Simulation (Sweden), Meggitt Training Systems Inc. (U.S.), Theissen Training Systems GmbH (Germany), Range Systems (U.S.), Polytronic International AG (Switzerland), and Shooting Range Industries LLC (U.S.), among others.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Shooting Ranges Market, By Application
8 Shooting Ranges Market, By Product
9 Shooting Ranges Market, By Geography
10 Competitive Landscape
11 Company Profiles
- Action Target, Inc.
- Cubic Corporation
- ELI Military Simulations Ltd.
- Laser Shot, Inc.
- Meggitt Training Systems, Inc.
- Polytronic International AG
- Range Systems, Inc.
- SAAB AB (Training & Simulation)
- Savage Range Systems, Inc.
- Shooting Range Industries, LLC
- Theissen Training Systems Gmbh
- Virtra Training Systems, Inc.
For more information visit http://www.researchandmarkets.com/research/g32rq2/shooting_range
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SOURCE Research and Markets