Sporting Arms Market is Expected to Exceed $2,779.0 Million by the End of 2027; American Society of Outdoor Brands

The report provides a quantitative analysis of the current Sports Arms market trends, market size estimates and dynamics from 2019 to 2027.

Various factors driving the growth of the sporting guns market are increasing number of participants in shooting sporting events, amazing advancements in firearms industry, rising popularity of Olympics, availability shooting and other sports facilities.

According to a new report published by Allied Market Research, titled “Sporting Arms Market by Weapon Type, Application, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2020-2027,” the global arms market sports pistol is expected to reach $2,779.0 million by 2027 at a CAGR of 9.7% from 2020 to 2027. Sports pistol is a non-lethal weapon that is used in shooting sports such as archery. target, bench shooting, popinjay, skeet shooting, trap shooting, metal figure shooting, cowboy horseback shooting and others. Sports weapon includes rifle, pistols and shotguns.

The Olympic and Commonwealth games have grown in popularity and are actively increasing the number of sports activities related to shooters. This increase in the number of sporting activities in such a global event should provide a solid customer base for sporting weapons. People with disabilities are increasingly participating in the Paralympic Games and generating more demand for sports weapons. The growing audience for the Paralympic Games, especially the shooting events, has increased the revenue generation of the product market.

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According to the Sports Arms Market analysis, it is segmented on the basis of weapon type, application, distribution channel and region. By product type, it is categorized into rifle, pistol, and shotgun. By application, it is divided into competitive shooting and recreational sports. By distribution channel, it is divided into gun stores, sporting goods stores, online and others. By region, it is analyzed in North America (United States, Canada and Mexico), Europe (Germany, United Kingdom, France, Russia, Italy, Spain, Rest of Europe), Asia-Pacific (China , India, Japan, Australia, South Korea, Rest of Asia-Pacific) and LAMEA (Middle East, Latin America and Africa).

According to current trends in the sporting guns market, on the basis of weapon type, the shotgun segment is expected to register a CAGR of 10.0% from 2020 to 2027. This is primarily attributed to technological advancements in shotguns. hunting such as red dot sights, precision-guided rifles, red dot laser and others. Moreover, well-designed and eye-catching shotguns attract customers, which is expected to boost the demand for shotguns. Various sporting rifles look like luxury lethal shotguns galvanize customers and drive to purchase shotguns, thus driving the growth of the sporting guns market.

Based on the application, the recreational shooting segment is expected to register a CAGR of 10.6% from 2020 to 2027. Recreational shooting is called using firearms as a hobby and primarily played for fun. It is considered less physically and mentally stressful.

Based on distribution channel, the online segment is expected to grow at a CAGR of 11.6%. This is mainly attributed to the increased penetration of internet and e-commerce channels among gun buyers. A growing number of internet users from emerging countries such as China, India and others are likely to have access to online sporting gun purchases. For example, according to Indian Brand Equity Foundation, in India there were 445.96 million internet users in 2017 and is expected to reach 829 million by 2021.

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On the basis of region, North America was the leading market in 2019 and accounted for the maximum share of the global product market, and is expected to continue throughout the forecast period of the sporting arms market 2020 -2027. This is attributed to the increase in the number of participants in shooting sports and the growing popularity of the Olympic and Commonwealth games. Emerging economies including China, India, and others are gaining significant traction in the global commodity market owing to the increase in government initiatives and programs. For example, according to the Indian government, India has launched various programs to promote sports such as Fit India Movement, Khelo India Scheme, Sports Talent Search Portal, National Sports Development Fund and others. The increase in sports budget further increases the growth of the market.

Players in the sporting arms industry have adopted product launch and business expansion as the main development strategies to grow their market share, increase profitability and stay competitive in the market. Key players profiled in this report include American Outdoor Brands Corporation

Beretta Holding SA, Browning Arms Company, Colt’s Manufacturing Company, LLC, Crosman Corporation, German Sport Guns GmbH, Howa Machinery, Ltd., JG Anschütz GmbH & Co.KG, Olympic Arms Inc. and Sturm, Ruger & Company, Inc.

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Main results of the study:

The Sporting Arms Market size was valued at $2.4 Billion in 2019 and is projected to reach $2.8 Billion by 2027, growing at a CAGR of 9.7% during the forecast period.
By weapon type, the pistol segment is estimated to be the fastest growing, registering a CAGR of 10.2% during the forecast period.
By application, the competitive shooting segment held the highest share in 2019, accounting for 54.50% of the global sporting gun market share.
In 2019, the United States was the largest market in the North America region and is expected to grow at a significant CAGR throughout the forecast period.

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