Riflescope Market Analysis and Insights: Global Riflescope Market
Riflescope is a device placed on top of the rifle and helps to improve aim by providing indicative and magnifying properties. It is a type of telescopic sight which provides clear picture as compared to the naked eye. Riflescope also increases the safety as it provides precise shooting from a great distance and also clear picture of the backdrop.
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The high adoption of new technologies and upgradation of military as well as low enforcement agencies, particularly in developing countries has been directly influencing the growth of riflescope market over the forecast period of 2021 to 2028. Also growing use of riflescope in shooting sports, associated with increasing participations in this sport is also flourishing the growth of the riflescope market. In addition, the availability of various types of riflescopes and increasing use in hunting activities are also positively impacting the growth of the market. Furthermore, the availability of more technologically advanced riflescope with thermal imaging and rising its use of deface as well as low enforcement sectors are also largely lifting the growth of the riflescope market.
However, the strict government regulations against hunting in many countries and high cost of riflescopes are acting as the major limitations for the growth of riflescope in the forecast period of 2021 to 2028, whereas the distraction in the supply chain and drop off in demand from OEMs due to the COVID-19 pandemic have the potential to challenge the growth of the riflescope market.
Likewise, the increasing military modernization programs as well as emerging technologies and availability of new and advanced types of riflescopes will further cater ample new opportunities that will lead to the growth of the riflescope market in the above-mentioned forecasted period.
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Global Riflescope Market Scope and Market Size
The sight type segment of the riflescope market is segmented into telescopic and reflex.
Based on technology, the riflescope market is segmented into electro optic, thermal imaging/infrared and laser.
On the basis of weapon compatibility, the riflescope market is segmented into sniper rifles and automatic rifles.
Based on function, the riflescope market is segmented into day sights and night sights.
On the basis of range, the riflescope market is segmented into short (50 to 100 yards), medium (100 to 500 yards) and long (>500 yards).
On the basis of magnification, the riflescope market is segmented into 1-8X, 8-15X and >15X.
On the basis of application, the riflescope market is segmented into armed forces, hunting and shooting sports.
Riflescope market is also segmented on the basis of end use into defense and commercial.
Riflescope Market Country Level Analysis
Riflescope market is analyzed and market size, volume information is provided by country, sight type, technology, weapon compatibility, function, range, magnification, application and end use as referenced above.
The countries covered in the riflescope market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA)as a part of Middle East and Africa (MEA).
North America leads the riflescope market due to the rising investment by the U.S. military and the high adoption of modern war equipment in the region. Asia-Pacific is expected to expand at a significant growth rate over the forecast period of 2021 to 2028 owing to rapid increase in demand from the leading armed forces as well as the growing popularity of shooting games and rise in terrorist activities within this particular region.
The country section of the riflescope market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Riflescope Market Share Analysis
Riflescope market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to riflescope market.
The major players covered in the riflescope market report are
· LEUPOLD & STEVENS, INC.
· Burris Company
· Nikon Inc.
· Schmidt & Bender GmbH & Co. KG
· Walther Arms, INC
· Leapers, Inc.
· NIGHTFORCE OPTICS
· VISTA OUTDOOR OPERATIONS LLC
· Vortex Optics
· HENSOLDT AG
· SWAROVSKI OPTIK
· Meopta – optika
· s.r.o. and Meopta U.S.A., Inc
· Trijicon, Inc.
among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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