Sport Guns Market Analysis by Trends, Size, Share, Company Overview, Growth and Forecast by 2029
The global sport guns market size is expected to gain momentum owing to the growing number of prominent sporting events during the forecast period. This information is published by Fortune Business Insights™ in an upcoming report, titled, “Sport Guns Market, 2021-2028.” The sports events such as Olympics, Asian Games, Commonwealth, and others. The rising number of sports enthusiasts being influenced by big-level events happening around the globe is the major contributing factor. Additionally, a growing number of people are playing video games online, and interested in action movies are moving toward shooting as a hobby. For instance, according to an American Institute of Physics data release, in 2019, three-quarters of American households have one gamer in their house, and 70% of families have a kid who plays video games.
COVID-19 Impact-
Supply Chain Disruption to Hamper the Market
The COVID-19 outbreak caused significant disruption in the sport guns supply chain. Due to severe shutdowns, gun manufacturing has been halted in a number of countries. Many industry firms were forced to close their shooting academy, and a majority of manufacturing contracts were canceled, all of which impacted market growth. With the lifting of lockdown, however, demand for guns is expected to increase.
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List of Key Players Profiled in the Global Market for Sport Guns:
- Herstal SA
- Strum
- Ruger & Co.
- Remington Arms Company
- Howa Machinery
- American Outdoor Brands Corporation
Segments
By product type, the market is segmented into rifle, pistol, and shotgun. On the basis of application, the market is segregated into competitive shooting and recreational sports. On the basis of material, the market is categorized into aluminum, plastic, wood, and others. Finally, by geography, the market is divided into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
What does the Report Offer?
This report for sport guns provides a comprehensive overview of the market and a limitless guide to current market size, share, driving factors, trends, progressive growth, and dominating players. In addition, this market research report provides the effect of domestic and international market participants, value chain standardization, trade laws, latest events, opportunities assessment, organizational market growth analysis, new products, and area global market deportation.
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Drivers & Restraints-
Rising Participation in Shooting Events to Stimulate Growth
The global sport guns market is expected to grow due to the increasing number of shooting sports happening during the projected period. Target shooting is one of the sporting events related to the shooting. It helps to build and enhance discipline and focus in sportsmen. The benefits of shooting, such as improving eyesight and increasing concentration, are major contributing factors. Additionally, it is also used for recreational purposes such as hunting and paintball activities. Moreover, increasing the commercialization of products as a part of recreational games in theme and amusement parks is boosting the demand in the market. For instance, in 2018, according to data released by International Association of Amusement Parks and Attraction, the global theme and amusement park has grown by 6.8%.
REGIONAL INSIGHTS
Presence of Prominent Players to Promote Growth in North America
North America is expected to hold the largest global sport guns market share during the forecast period. The growing interest in paintball activities resulting in increasing demand for the product is boosting the market forward in the region. Moreover, the rising popularity of owning a gun is growing especially in the United States, anticipated to foster the consumption of products.
Asia Pacific is anticipated to hold a significant position in the market. Increasing investment in military academics in countries such as India and China has increased the region’s product demand.
Competitive Landscape-
Key Players Focus on Partnership to Strengthen its Market Position
The in-depth analysis reveals the market's growth potential, future trends, and market size and forecast data. The report delivers cutting-edge technologies market insights to assist decision-makers in making informed strategic decisions. Companies obtain these new items through licensing agreements and collaborations while pursuing their in-house development strategy in the sport gun industry.
Industry Development-
- February 2019: BSA launched eight new sports guns at a British shooting show. It includes two new PCP’s, three new Gamo PCP’s and three new Winchesters.
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