Global
Sporting Guns Market: Snapshot
Sports
guns are non-lethal weapons that use metal tubes to fire bullets,
pellets, artillery shells, darts or arrows with explosive force or
compressed air. These guns are predominantly used in sporting events
such as rifle shooting, target shooting, and handgun shooting.
Besides competitive sports, sporting guns are also used for
recreational purposes for hunting and paintball. Unfortunately,
hunting guns have the capability of injuring or harming life, which
has become the very reason for their plummeting sales in recent
years. The research report states that the global market has a bright
future. According to the research report, the opportunity in the
global sporting guns market is likely to be worth US$2.3 bn by the
end of 2024 as compared to US$1.6 bn in 2015. Between the forecast
years of 2016 and 2024, the global market is anticipated to progress
at a CAGR of 3.9%.
Growing
Participation in Sporting Events Augurs Well for Global Market
The
growing awareness about shooting as a sport is expected to be the
major driving force for the global market. Target shooting is known
to build and enhance physical discipline amongst sportsmen. It
improves motor skills, hand-eye coordination, and stamina. The
persistent usage of guns increases arm strength, which, in turn,
helps in improve the aim at targets. In the case of marksmen it
enhances the ability to focus, thus helping them aim at targets with
precision. Shooting also sharpens the eyesight, levels of
concentration and is hence known as a challenging mental sport. It
also challenges the mind to use logic and mathematics to calculate
the wind velocity to make a winning aim. These benefits of shooting
as a sport are augmenting the demand for sporting guns across the
globe.
Sporting
guns are used for competitive shooting, recreation, and hunting. As
of 2015, the competitive shooting segment held the dominant share in
the global market, which was closely followed by hunting. Over the
past few years, the competitive shooting segment has witnessed a
prolific surge due to increasing participation in sporting activities
such as The Olympic Games. However, the demand for sports guns has
witnessed a downfall in emerging economies due to their high price of
manufacturing and imports.
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North
America Shows Promise of Steady Growth during Forecast Period
In
terms of geography, the global sporting guns market is segmented into
North America, Europe, Asia Pacific, the Middle East and Africa, and
Latin America. North America is leading the global market in terms of
revenue. As of 2015, the regional market held a share of 49% in the
overall market. The lion’s share of the regional market is
attributable to the growing participation of the population in
sporting events, increasing investments in training students for
shooting events, and the presence of strong players in the region.
Europe also holds a significant share in the global market due to
similar reasons.
On
the other hand, the demand for sporting guns across Asia Pacific and
the Middle East and Africa is expected to decline due to the high
cost of components to make these products. However, the global market
does have lucrative opportunities in tow as several regions are
focusing on refurbishing and replacing old sporting guns with new
ones.
The
key players operating in the global sporting guns market are Howa
Machinery Company Ltd., Sturm, Ruger& Co., Smith & Wesson
Holding Corp., Creedmoor Sports, Inc., German Sport Guns GmbH, Dick's
Sporting Goods, Inc., Beretta Holding S.p.A., J.G. Anschutz &
Co., Browning Arms Company, and Miroku Corporation.
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State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com
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