At 5.50% CAGR, Global Sniper Rifle Market Size & Share to Surpass US$ 2.63 Billion by 2027 | Industry Trends, Growth, Share, Opportunities, Statistics, Analysis & Forecast Report by IMARC
Global Sniper Rifle Market Overview (2022-2027) • Historical Market Size (2022): US$ 2.63 Billion • Forecast CAGR (2022-2027): 5.50% • Forecast Market Size (2027): US$ 3.66 Billion
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Sniper Rifle Market Overview
A sniper rifle refers to long-range, portable, and high-precision shoulder ammunition integrated with night-vision and telescopic sight devices that magnify targets and aid in visual aiming.
They are available in bolt-action and semi-automatic action models. These sniper rifle categories comprise of spiked feet, lightweight bolt carrier, rear grip, back view extended monopod, detachable muzzle brake, bipod, adjustable scope rings, socket, and spiked feet as standard components.
They can possess bullets for a longer duration in barrels as compared to conventional guns and shoot with much higher velocity and accuracy.
Sniper rifle variants are flexible, quick, stable, and capable of destroying aircraft and light armored vehicles and prove highly effective in providing detailed surveillance from concealed positions and neutralizing high-value targets to mitigate combat. Consequently, they find extensive applications across numerous sectors, such as defense, military, law enforcement, etc.
major market Trends in the Sniper Rifle Market
The escalating geopolitical tensions and terrorist attacks across borders that have prompted the military and defense sector to extensively adopt advanced ammunition are among the key factors driving the sniper rifle market.
In line with this, the elevating need to strengthen military bases and the launch of several initiatives by the government bodies aimed at modernizing armed forces are acting as significant growth-inducing factors. Moreover, the rising rate of arms import and export activities across the globe are also positively influencing the market growth.
Apart from this, the development of technologically progressive sniper rifles equipped with efficient bullet loading capacities, enhanced range and accuracy, and automatic steering facilities that help to demolish rival targets efficiently is further stimulating the global market.
In addition to this, the increasing product adoption in sports shooting is expected to propel the sniper rifle market over the forecasted period.
The report has been segmented the market into following categories:
Breakup by Type:
Breakup by Range:
Breakup by Application:
Based on the Application sector, the report finds that the Aerospace sector dominates the market. There are many ongoing development projects undertaken by various nations, which require a continuous flow of electricity. Owing to this, there is a rising demand for power inverters in this sector.
On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.
List of Major Key Players:
The major players in the market are Accuracy International
H&K AG (Compagnie De Developpement De L’Eau S.A.)
Knights Armament Co
PGW Defence Technology Inc.
Savage Arms Inc., SNT Motiv Co. Ltd.
Strategic Armory Corps
and Zastava Arms USA
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