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New York, NY – January 8, 2025 – The global Shooting and Gun Accessories Market is poised for significant growth, with projections indicating a rise from USD 6.45 billion in 2023 to USD 12.94 billion by 2033. This expansion reflects a solid compound annual growth rate (CAGR) of 7.21% over the forecast period from 2024 to 2033. The market’s growth can be attributed to increasing demand for advanced firearm accessories, driven by rising consumer interest in hunting, shooting sports, and self-defense.
In 2023, North America led the global market, capturing over 40% of the market share, equivalent to USD 2.58 billion in revenue. This dominance is largely due to the robust demand for gun accessories in the U.S., where shooting sports, gun ownership, and firearm-related activities are widespread. Additionally, rising concerns around personal safety and growing participation in recreational shooting have further fueled the demand for accessories.
The market is expected to benefit from innovations in firearm technology, such as the development of customized scopes, silencers, holsters, and other high-performance accessories. Furthermore, the expansion of online retail platforms and the increasing availability of products globally are expected to play a crucial role in boosting the market’s growth in the coming years.
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Key Takeaways
- Market Growth: The global shooting and gun accessories market is valued at USD 6.45 billion in 2023 and is projected to expand to USD 12.94 billion by 2033, growing at a compound annual growth rate (CAGR) of 7.21%.
- Dominant Segment by Type: The Air Rifle segment holds the largest share, accounting for more than 52% of the market in 2023. This growth is attributed to the rising popularity of air rifles in recreational shooting and hunting activities.
- Key End-Use: Law enforcement is the dominant end-user segment, making up 61% of the market in 2023. The demand from law enforcement agencies for specialized shooting accessories has driven this segment’s leading position.
- Regional Leadership: North America captured more than 40% of the market share in 2023, with a revenue of USD 2.58 billion. The region’s dominance can be attributed to strong demand across both recreational and professional sectors.
Emerging Trends
The Shooting and Gun Accessories Market is witnessing several emerging trends that are shaping its growth trajectory. One of the most significant trends is the increasing demand for smart gun accessories, such as biometric safes and gun tracking systems, which enhance safety and security.
These innovations are gaining traction among both recreational users and law enforcement agencies, driven by growing concerns about gun safety and regulatory changes. Another notable trend is the rise in airsoft and airgun accessories.
As the popularity of airsoft guns and air rifles increases, especially for recreational and competitive shooting, there is a corresponding demand for related accessories such as scopes, sights, and tactical gear.
Major Challenges
The Shooting and Gun Accessories Market faces several key challenges that may hinder its growth in the coming years. One of the primary challenges is the strict regulatory environment surrounding firearms and gun accessories.
Various countries and regions have stringent laws governing the sale, distribution, and usage of shooting accessories, which can limit market expansion. These regulations often vary significantly from region to region, complicating the compliance process for manufacturers and sellers and increasing operational costs.
Another challenge is the high competition and pricing pressure within the market. As the demand for shooting accessories grows, numerous manufacturers, both established and new, are entering the space. This heightened competition results in aggressive pricing strategies, potentially squeezing profit margins for companies. Additionally, brands must continually innovate to stay relevant, which increases R&D expenditures.
Key Player Analysis
- American Outdoor Brands Inc.: American Outdoor Brands is a leading player in the shooting and gun accessories market. The company offers a broad range of products including firearms, accessories, and outdoor equipment. With a strong portfolio of brands such as Smith & Wesson and M&P, American Outdoor Brands is well-positioned in both the U.S. and international markets. Its focus on innovation and quality has helped the company maintain a competitive edge in the market, particularly in firearm-related accessories.
- ANSCHÜTZ Rifles: ANSCHÜTZ is renowned for its precision rifles and shooting accessories. Known for their high-quality craftsmanship, their products are popular among competitive shooters and professionals. ANSCHÜTZ has a solid reputation in the target shooting market, particularly in disciplines like biathlon and precision shooting. Their focus on premium, precision-engineered products helps them stand out in a competitive market segment.
- BSA Guns (UK) Ltd: BSA Guns, a key player in the European market, specializes in producing air rifles and shooting accessories. With a history dating back to 1861, the brand is highly regarded for its airgun offerings and innovative features. The company’s extensive distribution network across Europe and a growing presence in North America supports its continued expansion in the global market.
- Crosman Corporation: Crosman is one of the most prominent companies in the air gun and shooting accessories market. Known for producing high-performance air rifles, pistols, and shooting accessories, Crosman caters to both recreational shooters and professional athletes. The company’s strong marketing and distribution strategies, along with its innovative product range, have helped establish it as a trusted brand in the shooting industry.
- Daisy Outdoor Products: Daisy Outdoor Products is a key player in the market, known for its air guns and accessories. The company has been a leader in the manufacturing of BB guns and air rifles for over 100 years. Daisy’s commitment to producing high-quality and affordable products has earned it a significant share in the youth and beginner shooting segments. Their products are often used for recreational and beginner-level training.
Recent Developments
In 2024, American Outdoor Brands expanded its portfolio by launching a new line of tactical accessories, aimed at both law enforcement and civilian markets. This includes high-performance scopes, tactical bags, and rifle accessories. The company’s strategic product launches are expected to significantly boost its market share, especially in North America, where it already holds a leading position.
Crosman Corporation, a key player in the air rifle segment, made a significant acquisition of a leading accessories manufacturer in early 2024. This acquisition will enhance Crosman’s ability to provide a comprehensive range of gun and shooting accessories. This move aligns with the growing demand for air rifles, a segment that accounted for more than 52% of the market in 2023.
Conclusion
North America remains a dominant region, driven by the increasing demand for air rifles, particularly in the recreational shooting and law enforcement sectors.
As key players like American Outdoor Brands and Crosman Corporation continue to innovate and expand their product offerings, the market is expected to see further advancements in technology and increased adoption. While challenges like regulations persist, the market’s potential for growth remains strong.
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