Riflescopes Market Opportunities and Challenges

Northbrook, USA, 2020-Jan-30 — /EPR Network/ —

This report provides an analysis of the global riflescopes market from 2019 to 2025. The report analyzes the factors that are driving and restraining the growth of the riflescopes industry as well as the challenges faced by the market. It also provides information on the growth opportunities for the market. The riflescopes market size is projected to grow from USD 6.5 billion in 2019 to USD 7.9 billion by 2025, at a CAGR of 3.4% during the forecast period. Increasing soldier modernization programs is one of the factors expected to drive the market growth. Additionally, increase in military spending by governments, growing instances of cross-border conflicts, and rising incidences of asymmetric warfare across the globe demanding highly precise firearms are some of the other factors expected to fuel the growth of the market.

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Based on sight type, the riflescopes market is segmented into telescopic and reflex. The telescopic segment is projected to grow at the highest CAGR during the forecast period, due to the growing use of telescopic riflescopes by armed forces, and hunting & shooting sports. For instance, in May 2016, Bushnell launched its newly developed New Trophy and Trophy Xtreme Optics lines. These two riflescope products come in seven configurations and six reticle options for edge-to-edge clarity and best-in-class 91% light transmission. The new optic line will help Bushnell to increase its presence in riflescopes industry for hunting application.

Based on technology, the riflescopes market is segmented into EO/IR, thermal imaging, and laser. The EO/IR segment is projected to grow at the highest CAGR during the forecast period. Electro-optical (EO) instruments and equipment are significant parts of a rifle and help in compact observation, rapid target identification, weapon alignment, measurement, and ballistic calculation. Hence, various vendors focus on producing riflescopes equipped with EO/IR integrated technology.

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Based on range, the riflescopes market is segmented into short, medium, and long. The long-range segment of the market is projected to grow at the highest CAGR between 2019 and 2025. The growth of this segment can be attributed to the increasing adoption of due to the growing demand for long-range riflescopes from militaries around the globe.

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