Sports Gun Market - Growth, Trends, and Forecasts (2023-2028)

The global sports gun market is projected to register a CAGR of 6.38% over the next five years.

Key Highlights

• The shooting games are gaining popularity in the Olympics and Commonwealth games, encouraging sports participation worldwide. Additionally, the rising participation of national-level shooting sports by college and school students is significantly driven by several organizations further to raise the rate of participation from the grass-root level is predicted to boost the growth of the sports gun market globally. Sports guns have been gaining a significant market share through the recreational shooting segment and are expected to boost the demand for sports guns during the forecast period.
• The COVID-19 outbreak disrupted the sporting schedule and affected some of the 2020s most significant events, which, in turn, also hampered the market for sports guns on a large scale through such events.
• In the initial phase of COVID-19, major international sporting events were canceled or delayed due to the outbreak, including the Tokyo Olympics and Paralympics, the World Cup in rifle/pistol, and the Junior World Championship for rifle, pistol, and shotgun.
• As the COVID-19 cases were decreasing in the mid of 2021, several sports games and events that were delayed were held by maintaining proper COVID-19 restrictions. In 2021 ISSF Junior World Championships was held in Lima, Peru, for Pistol, Rifle, and Shotgun, Tokyo 2020 Paralympic Games were held in 2021, and several other sports games and events appeared this year which is expected to accelerate the growth of the sports gun market globally.​

Sports Gun Market Trends

Increasing Participation in Shooting Sports

• The increasing participation in shooting sports, such as target shooting, is known to build and enhance physical discipline among athletes. The benefits of shooting sports guns, such as enhancing the ability to focus, and sharpening eyesight and concentration levels, augment the demand for sporting guns worldwide.
• Moreover, apart from competitive sports, sporting guns are also used for recreational purposes for hunting, and paintball is also supporting the market growth. In various countries, interstate sporting events and recreation or sports-related activities in schools and colleges also support the development of the sports gun market.
• The rising consumer interest in deer hunting and other animal hunting in countries like Chile, where hunting is legalized by getting specific certification for hunters, creates a lucrative market opportunity for market players to expand their business in the country. With the growing awareness of the benefits of shooting sports, such as enhancing the ability to focus and sharpen eyesight, concentration levels are increasing the demand for sporting guns worldwide.

Asia-Pacific Region Witness Fastest Growth Rate

• Asia-Pacific regions contribute a significant share in the sports gun market owing to the increasing participation in Asian sports games and several other sports events observing stable demand for sports guns. In Asia-Pacific, several countries were involved in shooting sports or other shooting games, such as self-defense training.
• The rising interest of people in shooting sports boosted the establishment of the Philippine Practical Shooters Association (PPSA), and a significant rise in the sports gun market has been observed.
• Nonetheless, the market is witnessing an upswing, owing to the people of Japan's interest in shooting sports which encourages them to participate in the Olympic games, and consequently, purchasing sports guns is rising, propelling the growth of the sports gun market.
• Moreover, in India, 'Khelo India' was an initiative of the Government of India to teach a sporting culture among its population, which has increased the demand for much sporting equipment, thus, benefiting the sports gun market.

Sports Gun Market Competitor Analysis

The global sports gun market is highly competitive, with various regional and international players holding significant shares and participating in the market's growth. The major players expanding their business worldwide in the sports gun market are Sturm, Ruger & Co. Inc., American Outdoor Brands Inc., Remington Arms Company, LLC., Carl Walther GmbH, and Beretta Holding.

Players are also focusing on expanding their product portfolio by understanding the various requirements of the sports players. Therefore, they are launching multiple sports guns to appeal to many people. The manufacturer is majorly concentrating on enhancing their product quality by merger and acquisition and product innovation to obtain a competitive edge over other players in the market. Advanced distribution networks and manufacturing expertise give an upper edge to the manufacturers to expand their range of products worldwide.

Additional benefits of purchasing the report:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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