Portland, OR, October 14, 2021 (GLOBE NEWSWIRE) – According to the report released by Allied Market Research, the global gun and gun accessories market was $ 5.13 billion in 2020 and is projected to be $ 10.54 billion in 2030 -Dollars achieve a CAGR of 7.7%. The report includes detailed data on key players, constraints, key drivers and opportunities with detailed impact analysis.

The increase in territorial conflicts around the world and the increasing demand for weapons for competitive sports are driving the global market for shooting and weapon accessories. On the other hand, strict government regulations on gun ownership around the world are hampering market growth. The global surge in defense spending presents several opportunities for market participants.

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COVID-19 scenario:

  • The COVID-19 outbreak forced governments to impose strict travel restrictions to contain the spread of the virus. Factories were either closed or continued to operate with a limited workforce. The shortage of labor also interrupted the supply and demand process. The private arms factories saw a decline in investment.
  • With vaccination campaigns running around the world, the gun and gun accessories market is expected to recover soon.

The global Gun Accessories Market is segmented into End Use, Type, Distribution, and Region.

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As measured by type, the air rifle segment held the largest market share in 2020, with more than two-fifths of the total, and is expected to maintain the lead throughout the forecast period. On the other hand, the fastest CAGR of 7.5% is forecast for the air pistol segment from 2021 to 2030.

In terms of distribution, the offline segment made the largest contribution in 2020 with around three-fifths of the global shooting and accessories market. The same segment is expected to lead the market in the forecast period. However, the online segment is expected to have the highest CAGR of 8.6% from 2021 to 2030.

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In terms of the region, North America made the largest contribution in 2020 with around a third of the total. Additionally, the region is expected to have the fastest CAGR of 9.4% from 2021 to 2030. The report also covers Asia Pacific, Europe and LAMEA.

Companies analyzed in the study include Fabbrica D’Armi Pietro Beretta SpA, American Outdoor Brands Inc., Heckler & Koch, FN Herstal, Savage, Sturm, Remington Ammunition, Ruger & Co., Inc., Webley & Scott, Taurus International Manufacturing, Inc. and Weihrauch & Weihrauch Sport GmbH & Co. KG.

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Similar reports we have about the defense industry:

Shooting Ranges Market by Activity (Firearms & Archery), Indoor Shooting Ranges (Virtual Simulator and Target-Based Training), Outdoor Shooting Ranges (Fixed Target & Moving Target), and End-Users (Civil & Defense): Global Opportunity Analysis and Industry Forecast, 2020-2030.

Homeland Security Market by Type (border security, aviation security, maritime security, critical infrastructure security, cybersecurity, mass traffic safety, law enforcement, CBRN security and others) and end-users (public sector and private sector) and technology (detection and surveillance systems, AI-based solutions, security platforms and others: Global Opportunity Analysis and Industry Forecast, 2021–2030.

Non-Lethal Weapons Market by Technology (Chemistry, Electric Shock, Mechanical & Kinetic, Acoustics / Light, and Others), Product Type (Gases and Sprays, Grenades, Taser Guns, Bullets, and Others), and End-User (Law Enforcement, Military, and Citizens: Global Opportunity Analysis and Industry forecast, 2021-2030.

Autonomous Weapons Market by Product (Missiles, Ammunition, Guided Missiles, Guided Projectiles, Hypersonic Weapons, and Others), Platform (Land, Air, and Navy), and Type (Semi-Autonomous and Autonomous): Global Opportunity Analysis and Industry Forecast, 2021-2030.

Smart Weapons Market By Type (Air-to-Surface Missiles, Surface-to-Air Missiles, Smart Bombs, Sensor-Based Weapons, Targeted Energy Weapons, Precision Artillery Ammunition, Electromagnetic Pulse Weapons, Smart Bullets), Geography – Global Opportunity Analysis and Industry Forecast, 2014-2030.

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