The global sniper rifle market size reached US$ 3.0 Billion in 2023. Looking forward, the market is projected to reach US$ 4.5 Billion by 2032, exhibiting a growth rate (CAGR) of 4.61% during 2023-2032.
A sniper rifle is a portable, long-range, high precision shoulder ammunition equipped with night-vision and telescopic sight devices, which help in visual aiming by magnifying targets. It also comprises a lightweight bolt carrier, spiked feet, back view extended monopod, rear grip, detachable muzzle brake, adjustable scope rings, bipod, socket, and spiked feet as standard components. Unlike conventional guns or pistols, sniper rifles can possess bullets for a longer duration in barrels and shoot with much higher velocity and accuracy while absorbing the recoil produced through firing.
Apart from this, it is stable, quick, flexible, and capable of destroying light armored vehicles and aircraft. Consequently, the sniper rifle is used to provide detailed surveillance from concealed positions and neutralize high-value targets to mitigate combat. Currently, it is mainly available in long-range precision and bolt-action rifle types with different ranges.
Additionally, the advent of technologically advanced sniper rifles with efficient bullet loading capacities, automatic steering facilities, and increased range and accuracy to demolish rival targets is contributing to the market growth. Apart from this, the extensive uptake of the sniper rifle in sports shooting and the ongoing procurement of the product in terms of engagement profile, topography on battlefields, and the number of sniper squadrons are positively augmenting the market growth.
2. What is the expected growth rate of the global sniper rifle market during 2024-2032?
3. What are the key factors driving the global sniper rifle market?
4. What has been the impact of COVID-19 on the global sniper rifle market?
5. What is the breakup of the global sniper rifle market based on the range?
6. What is the breakup of the global sniper rifle market based on the application?
7. What are the key regions in the global sniper rifle market?
8. Who are the key players/companies in the global sniper rifle market?
A sniper rifle is a portable, long-range, high precision shoulder ammunition equipped with night-vision and telescopic sight devices, which help in visual aiming by magnifying targets. It also comprises a lightweight bolt carrier, spiked feet, back view extended monopod, rear grip, detachable muzzle brake, adjustable scope rings, bipod, socket, and spiked feet as standard components. Unlike conventional guns or pistols, sniper rifles can possess bullets for a longer duration in barrels and shoot with much higher velocity and accuracy while absorbing the recoil produced through firing.
Apart from this, it is stable, quick, flexible, and capable of destroying light armored vehicles and aircraft. Consequently, the sniper rifle is used to provide detailed surveillance from concealed positions and neutralize high-value targets to mitigate combat. Currently, it is mainly available in long-range precision and bolt-action rifle types with different ranges.
Sniper Rifle Market Trends
The increasing terrorist attacks and geopolitical tensions across borders have prompted the military and defense sector to widely adopt advanced ammunitions, such as sniper rifles, over exiting obsolete warfare equipment to protect civilians, which is primarily driving the market growth. In line with this, the growing military expenditure, the escalating need to strengthen military bases, and various government initiatives toward modernizing armed forces are also supplementing the demand for sniper rifles in the market. This is further influenced by the fueling number of arms imports and export activities across the globe to maintain a sufficient amount of weapons and ammunition.Additionally, the advent of technologically advanced sniper rifles with efficient bullet loading capacities, automatic steering facilities, and increased range and accuracy to demolish rival targets is contributing to the market growth. Apart from this, the extensive uptake of the sniper rifle in sports shooting and the ongoing procurement of the product in terms of engagement profile, topography on battlefields, and the number of sniper squadrons are positively augmenting the market growth.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global sniper rifle market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on type, range and application.Breakup by Type:
- Bolt-Action
- Semi-Automatic Action
Breakup by Range:
- Up to 1,000 meters
- Beyond 1,000 meters
Breakup by Application:
- Civilian
- Law Enforcement
- Military
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players being Accuracy International, B&T AG, FN Herstal, H&K AG (Compagnie De Developpement De L'Eau S.A.), Knights Armament Co, PGM Precision, PGW Defence Technology Inc., Savage Arms Inc., SNT Motiv Co. Ltd., Strategic Armory Corps and Zastava Arms USA.Key Questions Answered in This Report
1. What was the size of the global sniper rifle market in 2023?2. What is the expected growth rate of the global sniper rifle market during 2024-2032?
3. What are the key factors driving the global sniper rifle market?
4. What has been the impact of COVID-19 on the global sniper rifle market?
5. What is the breakup of the global sniper rifle market based on the range?
6. What is the breakup of the global sniper rifle market based on the application?
7. What are the key regions in the global sniper rifle market?
8. Who are the key players/companies in the global sniper rifle market?
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Sniper Rifle Market
6 Market Breakup by Type
7 Market Breakup by Range
8 Market Breakup by Application
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Accuracy International
- B&T AG
- FN Herstal
- H&K AG (Compagnie De Developpement De L'Eau S.A.)
- Knights Armament Co
- PGM Precision
- PGW Defence Technology Inc.
- Savage Arms Inc.
- SNT Motiv Co. Ltd.
- Strategic Armory Corps
- Zastava Arms USA
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 135 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 3 Billion |
| Forecasted Market Value ( USD | $ 4.5 Billion |
| Compound Annual Growth Rate | 4.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
