A riflescope is a telescopic vision mounted on the topmost of a rifle that helps to enhance one’s aim by pinpointing and magnifying a target. It is mostly used for armed forces,hunting and shooting sports.
Based onsight type, the global riflescope market is segmented into reflex and telescopic. Among various sight types, the telescopic segment is estimated to be the major market during the forecast period of 2017 – 2025. However, reflex is estimated to grow at a high CAGR during the forecast period of 2017 – 2025. Increase in the use of telescopic in different applications such as hunting and military among others is the key factor boosting the market for the global riflescope market during the forecast period of 2017 – 2025. Telescopic sight offers better vision and helps the shooters to aim better at the target. In addition, accuracy in attack is one of the major factor boosting the demand of telescopic segment in riflescope market during the forecast period of 2017 – 2025.
Based on technology, the global riflescope market is segmented into thermal imaging/infrared, electro optic and laser. Among various technology, the electro optic segment is estimated to be the major market followed by thermal imaging/infrared market and expected to be the same during the forecast period of 2017 – 2025. In addition, the thermal imaging/infrared is also expected to grow at a high CAGR during the forecast period of 2017 – 2025. Advancement in riflescope technology for accuracy is one of the major factor boosting the thermal imaging/infrared segment in riflescope market during the forecast period of 2017 – 2025. Factor such as usage of thermal imaging/infrared in armed forces and hunting at night by using thermal imaging/infrared are some of the major factor boosting the demand of the thermal imaging/infrared segment in riflescope market during the forecast period of 2017 – 2025.
Based on application, the global riflescope market is segmented into armed forces, hunting and shooting sports. Among various applications, in 2016, the hunting segment is predicted to be the major market followed by armed forces market and expected to be the same during the forecast period of 2017 – 2025. In addition, the armed forces segment is expected to grow at a high CAGR during the forecast period of 2017 – 2025. Increasing up gradation military programs expected to boost the demand for armed forces segment in riflescope market during the forecast period of 2017 – 2025.
By geography, the global riflescope market has been classified into five regions namely North America, Europe, Asia-Pacific, Middle East and Africa and Latin America. In 2016, Europe holds the largest market share in the global riflescope followed by North America, Asia Pacific, Middle East & Africa and Latin America. Increase in popularity of animal hunting activities, shooting sports and soldier modernization programs are some of the major factors boosting the demand of riflescope market in Europe during the forecast period of 2017 – 2025. Upgrading in military program is estimated to be the major factor fueling the demand of riflescope market in Europe. Increasing interest in shooting sports is another factor boosting the demand of riflescope market in Europe during the forecast period. In 2016, the U.S. is the major market for the riflescope in North America and expected to be the same during the forecast period of 2017 – 2025. Asia Pacific is estimated to grow at a high CAGR during the forecast period of 2017 – 2025. Technological advancements and increasing adoption of riflescopes in military are some of the major factor boosting the market for the riflescope market during the forecast period of 2017 – 2025.
Some of the major players in the riflescope market include are Leupold & Stevens (United States), Bushnell Optics (United States), Burris Optics (United States), Nikon Optics (United States), Vortex Optics (United States), BSA Optics(United States), Nightforce Optics(United States),Walther Arms (Germany) and Schmidt & Bender(Germany) among others.
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