NEW YORK, Dec. 20, 2018 /PRNewswire/ -- The Global Sports Gun Market is Anticipated to Reach 2.31 by 2023, Reports BIS Research
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The global sports gun market is expected to witness static growth during the forecast period 2018-2023 due to the rising demand from shooting sports activities. The growing number of participants for shooting sports, rise of hunting tourism, and increased fundings to setup new shooting ranges are some of the key drivers for the growth of the global sports gun market.
Awareness about health benefits of shooting sports and promotion of hunting and shooting sports by The U.S. Department of Interior are expected to create future opportunities for the market. The global sports gun market has been classified into four-gun types: pistol, rifle, revolver, and shotgun. Revolver gun type market is expected to have the highest growth rate during the forecast period 2018-2023 due to the extensive demand from competitive shooting activities. Furthermore, the global sports gun market has been classified into caliber type of each gun type.
According to BIS Research analysis, the global sports gun market generated $1.91 billion in 2017 and is estimated to grow at a CAGR of 3.22%, during 2018-2023. North America dominated the global sports gun market in 2017 with the U.S. acquiring the most significant market share, globally. However, Asia-Pacific is expected to have the highest growth rate during the forecast period, 2018-2023.
Following points provide a detailed description of the report content and the topics covered in the report:
• This report identifies the global sports gun market under different segments such as gun type and region.
• It examines the prime supply-side factors, which affect the growth of the market, and the current and future trends, market drivers, restraints, and challenges prevalent in the global sports gun market.
• The report also highlights the value chain of the industry.
• Detailed competitive analysis has been included in this report which focuses on the -key market developments and strategies followed by the top players in the market. Additionally, the competitive benchmarking map has been included in the existing study which analyzes the competitive strength of the players in the global sports gun market.
• The market for different gun types such as pistol, rifle, revolver, and shotgun has been estimated and analyzed.
• The market for different caliber types for each gun type has been estimated and analyzed.
• The global sports gun market for the major regions has been analyzed in the report, including North America, Europe, Asia-Pacific, and the Rest-of-the-World.
• A detailed Porter's Five Forces analysis has been included in the report. Furthermore, the report also focuses on providing information of the key participants and future opportunities in the global sports gun market.
• The study provides detailed analysis of the 16 key players in the global swarm intelligence market including Hatsan Inc., Browning International S.A., SIG Sauer, Inc., Colt's Manufacturing Company, Beretta, Ruger Firearms, Taurus Holdings Inc, Shaoxing Snow Peak Air Gun Factory, Glock Inc., Remington Outdoor Company, Savage Arms, American Outdoor Brands Corporation (Smith & Wesson), Crosman Corporation, Dick's Sporting Goods, and Sturm, Ruger &Co. in the Company Profiles section. This section covers business financials, company snapshots, key products and services, major developments, future programs (if any), and the individual SWOT analysis.
The prominent application of guns is across military and law enforcement industries.Guns are lethal and are mostly used in military for defending from the opposite forces in a war.
The law-enforcement agencies also make use of guns for applications in public safety.However, sport is another category in which guns have been used for shooting activities.
The shooting sports is one of the most prominent activities to witness the increased participation across the globe.There are various shooting activities such as hunting, target shooting, and field shooting, among others.
Each of the shooting activities makes use of various types of sports gun depending upon the requirement. Handguns are the most important type of guns used in shooting sports. There has been a growth in the number of guns manufactured across the globe due to the growing number of international and national events organized by the sports organizations. For instance, according to the Bureau of Alcohol, Tobacco, Firearms and Explosives annual report 2016, the total number of guns manufactured in the U.S. increased from 9,358,661 units in 2015, to 11,497,441 units in 2016.
There are many shooting sports organizations, such as USA Shooting (USAS), United States Practical Shooting Association (USPSA), China Practical Shooting Association, and British Association for Shooting and Conservation (BASC), among others, that are continuously putting efforts in promoting shooting as a sport across the globe. Furthermore, the governments of various nations, such as India, Australia, the U.S., and China, among others, are providing funds and running programs to promote participation in sports such as shooting. These programs are focused on setting up more public shooting ranges and providing people from various backgrounds access to shooting ranges. Further, state governments in Australia are increasing funding in programs that are focused on encouraging people to participate in shooting sports. Moreover, people have increased participation in hunting and shooting sports due to several programs that have been setup by the department, adding to the increasing number of tourists who visit the U.S. for hunting purposes. Some of the leading players in the global sports gun market includes Hatsan Inc., Browning International S.A., SIG SAUER, Inc., Colt's Manufacturing Company, Beretta, Ruger Firearms, Taurus Holdings Inc, Shaoxing Snow Peak Air Gun Factory, Glock Inc., Remington Outdoor Company, Savage Arms, American Outdoor Brands Corporation (Smith & Wesson), Crosman Corporation, Dicks Sporting Goods, and Sturm, Ruger &Co., among others.
The market reported a revenue of $1.91 billion in 2017 and is expected to grow at a significant CAGR during the forecast period 2018-2023. The global sports gun market has been segmented into four-gun types: pistols, rifles, revolvers, and shotguns. The pistols gun type market acquired the largest share in 2017; however, revolvers gun type market is expected to grow at the highest CAGR during the forecast period, 2018-2023. In addition, the sports gun type market is classified into its various caliber types such as 9mm, 0.38 caliber, 12 gauge, and 0.38 spec, among others.
North America acquired the largest share of the global sports gun market followed by Asia-Pacific, Europe, and Rest of-the-World (RoW). The U.S. and Canada are some of the prominent countries in North America for the development of the sports gun market. The U.S. dominated the overall market of the sports gun in the year 2017. However, Asia-Pacific is expected to grow at the highest CAGR during the forecast period, 2018-2023. In Europe, the U.K. is one of the prominent countries which is currently focusing on the deployment of sports gun. Some of the other prominent countries include Germany and France.
The Asia-Pacific region majorly consists of China, Australia, and India in the sports gun market.China, currently, has the largest share of the sports gun market while India is expected to grow at the highest rate in the Asia-Pacific region during the forecast period.
Moreover, there are ample opportunities for new entrants in this region as the demand for sports gun is increasing for shooting sports applications.
• North America
• The U.S.
• Rest-of-North America
• The U.K
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