Market Forecast
The Riflescope Market is projected to be valued at USD 6.29 Billion by 2025, registering a CAGR of over 3.41% from 2019 to 2025. Market growth can be attributed to the demand for riflescopes in shooting sports and hunting. Furthermore, innovations in the field of optics are expected to positively impact market growth. Riflescopes are also used in the military by snipers and ground troops. A rise in government investments in the upgrade of armaments is projected to fuel market growth during the forecast period.
Market USP
Innovations in the field of optics
Growth Opportunities in the Market
• Dominance of telescopic riflescope in the market: The telescopic segment accounted for the larger market share in 2018 and is expected to remain dominant during the forecast period. The segment accounted for over 43% of the global market share. Telescopic rifle scopes offer a magnified view that enables users to shoot at long ranges and assist in target identification.
• 8–15x magnification segment expected to lead the market: The 8–15x magnification segment was the largest in 2018 valued at approximately USD 1.14 billion. Its competitive costs and widespread use in hunting and shooting sports are expected to positively impact market growth.
• Thermal imaging segment to dominate the market: The thermal imaging segment led the market in 2018 with a value of approximately USD 890.4 million. The use of thermal imaging riflescopes by the military during covert operations is expected to drive the growth of the segment. The military modernization programs undertaken by the governments in countries such as the US, China, and India are further projected to fuel the demand for thermal imaging riflescopes.
• Medium range (100–500 Yards) riflescopes in high demand: The benefits offered by medium range (100–500 yards) riflescopes such as wide field of view, target accuracy, and cost-effectiveness are expected to drive the growth of the segment. The use of medium-range riflescopes for hunting is also fueling demand.
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Key Players
• Aimpoint (Sweden)
• BSA Optics (US)
• Burris Company (US)
• Bushnell (US)
• Carl Zeiss AG (Germany)
• Eotech (US)
• FLIR Systems (US)
• Hawke Optics (UK)
• Hensoldt (Germany)
• Leica Camera (Germany)
• Leupold & Stevens, Inc. (US)
• Nightforce Optics, Inc. (US)
• Nikon Corporation (Japan)
• Primary Arms LLC (US)
• Schmidt & Bender GmbH & Co. Kg (Germany)
• Sig Sauer (US)
• Steiner (US)
• Trijicon, Inc. (US)
• US Optics (US)
• Vortex Optics (US)