Global Sports Gun Market Development, Tendencies, and Forecasts Report 2021-2026 Featuring Sturm, Ruger & Co, American Outdoor Manufacturers, J.G. ANSCHUTZ, Carl Walther, and Daisy Outdoor Products
DUBLIN, January 28, 2021 / PRNewswire / – The report, “Sporting Guns Market – Growth, Trends, and Forecasts 2021-2026” has been added to ResearchAndMarkets.com’s offering.
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The global sporting arms market was rated with USD 6,242.62 million in 2020 and is expected to grow at a CAGR of 6.38% over the period 2021-2026.
The shooting games are becoming increasingly popular at the Olympics and Commonwealth Games, which encourages participation in the sport around the world. The upcoming 2020 Summer Olympics are expected to boost demand for sporting weapons. In addition, the increasing popularity of the sport of shooting among paralyzed individuals and the increasing encouragement to participate in Paralympic game events in recent years has resulted in further demand for sporting weapons.
The COVID-19 outbreak disrupted the sports schedule and affected some of the biggest events of 2020, which in turn hindered the sporting weapons market on a large scale through such events. Some of the major international sporting events canceled or postponed due to the outbreak are the Tokyo Olympic and Paralympic Games, the World Rifle / Pistol Championship, and the Junior Rifle, Pistol & Shotgun World Championship. Since such events represented both an increase in sporting weapon sales and a location for promotions from manufacturers, the delay is expected to adversely affect market growth in the short term.
The increasing participation of schoolchildren and students in shooting sports at the national level, supported by significant initiatives by various organizations to further increase participation rates from the grassroots level, should accelerate the growth of the market.
Increasing participation in shooting sports
It is known that the increasing participation in target shooting promotes and improves physical discipline among athletes. The advantages of shooting sporting guns such as improving focusability, eyesight and concentration are increasing the demand for sporting guns around the world. In addition to competitive sports, sporting guns are also used for recreational hunting purposes, and paintball also supports market growth.
In various countries, interstate sporting events and recreational or sport-related activities in schools and colleges will also support the growth of the sporting weapons market. For example Khelo India, a government initiative of IndiaIn order to convey a sports culture to the population, the demand for many sports equipment has increased, which benefits the sports weapon market.
South America region has the fastest growth rate
North America and Europe Regions contribute a large share of the sporting weapons market and these regions observe stable demand for sporting weapons due to constant participation in shooting events. Shooting as a sport is still in its infancy South Americawhich is also dominated by archery. Therefore, the demand for sporting weapons in the region is lower.
Even so, the market is booming due to the growing interest of consumers in trying new sports, consequently buying sporting weapons and contributing to the South American sporting weapons market. The growing consumer interest in deer and other animal hunts in countries like ChileOnce hunting has been legalized for hunters through a specific certification, market participants have a lucrative market opportunity to expand their business in the country.
The market is fiercely contested as important market players such as Sturm, Ruger & Co. Inc., American Outdoor Brands Inc., JG ANSCHUTZ GmbH & Co. KG, Carl Walther GmbH and Daisy Outdoor Products are represented. Players also focus on expanding the product portfolio by understanding the various needs of sports gamers. Hence, they bring various sporting weapons to market to appeal to a large segment of people.
Howa Machinery Ltd, Sturm, Ruger & Co. Inc. and Herstal SA are the main players in the market.
Main topics covered:
2 RESEARCH METHODOLOGY
4 MARKET DYNAMICS
4.1 Market drivers
4.2 Market Restrictions
4.3 Porter’s Five Forces Analysis
5 MARKET SEGMENTATION
5.1 By product type
5.2 By distribution channel
5.2.1 Offline Retail Stores
5.2.2 Online Retail Stores
6 COMPETITIVE LANDSCAPE
6.1 Most active companies
6.2 Most commonly adopted strategies
6.3 Market position analysis
6.4 Company profiles
6.4.1 Sturm, Ruger & Co. Inc.
6.4.2 American Outdoor Brands Inc.
6.4.3 JG ANSCHUTZ GmbH & Co. KG
6.4.4 Remington Arms Company LLC
6.4.5 Carl Walther GmbH
6.4.6 BRS Outdoor Sports Holdings LLC (Daisy Outdoor Products)
6.4.7 Beretta Holding
6.4.8 Cannae Holdings Inc. (Colts Manufacturing Company LLC)
6.4.9 Compass Diversified Holdings
6.4.10 Olympic Arms Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 THE IMPACT OF COVID-19 ON THE MARKET
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