DUBLIN--(BUSINESS WIRE)--The "Riflescopes Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The Riflescopes Market is projected to grow with a CAGR of more than 3% during the forecast period.
Companies Mentioned
- Leupold & Stevens Inc.
- Bushnell Corporation
- Burris Company
- Scmidth & Bender GmbH & Co.
- Hawke Optics
- BSA Optics
- Nikon Corp
- Trijicon Inc.
- Carl Zeiss AG
- Nightforce Optics
- Sig Sauer, Inc.
- FLIR Systems, Inc.
Key Market Trends
The Military Segment is Expected to have the Highest Growth During the Forecast Period
The military segment is expected to witness the highest growth during the forecast period, owing to the modernization programs of various countries. The procurement of new and advanced infantry weaponry like sniper rifles, light machine guns, and automatic weapon systems among others will drive the growth of the segment. For instance, in the coming years, the US Army plans to procure over 120,000 new light machine guns and rifles to replace M4 carbine and M249 Squad Automatic Weapon. Such robust plans are anticipated to generate demand for new and advanced riflescopes during the forecast period.
Also, the procurement of advanced scopes by the armed forces for higher accuracy and effectiveness to hit the target will propel the growth during the forecast period. Such as, in February 2020, the US Marine Corps awarded a USD 64 million contract to Michigan based Trijicon to supply squad common optic (SCO) riflescopes. These scopes can be mounted on the M27 Infantry Automatic Rifle and the M4 rifles and have a continuously adjustable magnification range moving from 1X to 8X magnification. Similarly, many developing nations are also spending heavily on army warfare modernization. These trends are expected to drive growth during the forecast period.
Asia-Pacific is Projected to grow with the Highest CAGR During the Forecast Period
Asia-Pacific is projected to grow with the highest CAGR during the forecast period owing to the rapid military modernization plans of countries in the Asia-Pacific region, such as China, India, and South Korea among others, which are some of the biggest defense spenders in the world. The major emerging economies in the region like China and India are aggressively increasing their investments into the defense sector for soldier modernization owing to the territorial issues and geopolitical tensions.
For instance, in 2018, the Defence Acquisition Council of India received approval from the government to procure 745,000 assault rifles (including 5,719 sniper rifles) for the armed forces of India. Similarly, the Philippine Army received 80 assault rifles from the US government under the Military Assistance Program in March 2019. Such initiatives by the governments of the countries to increase the capabilities of their frontline troops of armed forces are anticipated to generate demand for new riflescopes during the forecast period.
Key Topics Covered:
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Application
5.1.1 Sporting and Hunting
5.1.2 Law Enforcement
5.1.3 Military
5.2 Sight Type
5.2.1 Telescopic
5.2.2 Reflex
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Russia
5.3.2.5 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 India
5.3.3.3 Japan
5.3.3.4 South Korea
5.3.3.5 Rest of Asia-Pacific
5.3.4 Rest of the World
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Leupold & Stevens Inc.
6.2.2 Bushnell Corporation
6.2.3 Burris Company
6.2.4 Scmidth & Bender GmbH & Co.
6.2.5 Hawke Optics
6.2.6 BSA Optics
6.2.7 Nikon Corp
6.2.8 Trijicon Inc.
6.2.9 Carl Zeiss AG
6.2.10 Nightforce Optics
6.2.11 Sig Sauer, Inc.
6.2.12 FLIR Systems, Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/5ndsvx
