Shooting Ranges Market
Shooting Ranges Market (Type: Indoor Shooing Range [Virtual Simulators and Targets] and Outdoor Shooting Range [Moving Targets and Fixed Targets]; and Application: Military and Recreational) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030
- Consumer Goods & Services
- 108 Pages
VR Fire Ranges Help Military Forces to Train Economically Amid Coronavirus
Sports facilities are regaining business, as coronavirus restrictions are being eased and stay-at-home orders are being lifted. Stakeholders in the shooting ranges market are benefitting from such trends. On the other hand, companies are targeting military and Special Forces to broaden their revenue streams. For instance, Asterion VR is gaining recognition for its virtual reality simulators that have been designed with the help of experienced doctors and specialized engineers.
Companies in the shooting ranges market are collaborating with video game experts in their studio to innovate in virtual reality (VR) fire ranges. These innovations are helping military forces to train economically and 24/7. The VR fire ranges are facilitating infinite walking in limited spaces.
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Indoor Shooting Range versus Outdoor Shooting Range: Which is Better?
Military and law enforcement agencies are investing in firearms training across departments. However, they need to bear in mind the pros and cons of indoor and outdoor shooting ranges. Outdoor shooting ranges allow increased firing mobility for more tactical freedom, distance, and terrain based exercises. However, soil engineering and earthwork can be potentially expensive.
Indoor shooting ranges are very helpful during extreme weather conditions. However, pricey structural requirements with OSHO & EPA compliance for the accommodation of HVAC systems can significantly increase costs. Hence, companies in the shooting ranges market, such as Las Vegas-based Shooting Range Industries are offering custom designed shooting ranges that meet specific requirements of military and law enforcement agencies.
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Conservation of Wildlife, Habitat Management Linked with Shooting Ranges
The shooting ranges market is expected to cross US$ 38.6 Bn by the end of 2030. Recreational shooting ranges are driving conservation funding in Michigan. The Rose Lake Shooting Range received funding from the Michigan’s Natural Resources Trust Fund (MNRTF) to upgrade the facilities and make them accessible to handicaps. As such, conservation of wildlife and habitat management is being associated with shooting ranges.
Firearms owners, archery aficionados, and even non-shooters in Michigan are realizing the importance of funding shooting ranges to achieve the conservation of wildlife. Such trends are benefitting companies in the Michigan shooting ranges market. Even hunters are gaining awareness about maintaining the ecosystem, since deer and other animals are prone to browse heavily over young trees, wildflowers, and understory plants.
Innovative Shooting Accessories Attract Traffic from Sports Enthusiasts
The shooting ranges market is projected to register a favorable CAGR of ~7% during the assessment period. Manufacturers of shooting accessories such as air rifles and spare parts are important stakeholders in the value chain. Range Systems Inc. - a provider of live fire ballistic rubber products from Minnesota is establishing robust supply chains with military personnel and recreational facility owners. Thus, the U.S. holds lucrative revenue opportunities for companies in the shooting ranges market.
Companies in the shooting ranges market are increasing efforts to gain recognition from the United States Army Special Forces to acquire credibility among shoot-houses.
Custom Shooting Range Solutions, Modern Technologies Being Preferred in Training Schools
Police training school such as the one in Kolkata, India is being highly publicized for offering the public with a modern shoot range at a price of only INR 100. Stakeholders in the India shooting ranges market are capitalizing on this opportunity to offer custom shooting range solutions to help facility owners attract public. State-of-the-art facilities with modern technologies are being preferred by sports enthusiasts.
Easy registration procedures with police training schools are translating into value grab opportunities for companies in the shooting ranges market. Companies are increasing focus on fully automated competition level shooting ranges. Customized shooting stalls are meeting specific law enforcement and commercial requirements.
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Virtual shooting ranges are a great way to help military and law enforcement personnel to cost-efficiently train during COVID-19 pandemic. Indoor shooting ranges are prone to limitations and constraints depending on the zoning. Outdoor shooting ranges face challenges in bullet containment, leading to increase in developing costs. Hence, companies in the shooting ranges market should consult and offer custom shooting range solutions to military and recreational facility owners whilst adhering to OSHA and EPA regulations. Shooting range owners should tie up with reliable accessory providers to enhance the shooting experience of the public. Customized shooting stalls are gaining popularity for resilient surface and raised edges at a swing-down shooter’s shelf to prevent accidental drop off.
Shooting Ranges Market: Overview
- According to a latest market report published by Transparency Market Research on the shooting ranges market for the period 2020–2030 (wherein 2020 to 2030 is the forecast period and 2019 is the base year), rising investment by commercial and professional ranges in advanced training and technological advancement is key factors responsible for the growth of the shooting ranges market
- Globally, revenue generated by the shooting ranges market accounted for over US$ 19.5 Bn in 2020, which is expected to expand at a CAGR of ~7% in terms of value during the forecast period
Increasing Participation in Shooting: Key Driver of Shooting Ranges Market
- Continuous growth in participation of urban population in shooting sports and hunting activities, along with increasing sales of firearms and ammunition over the years is influencing the expansion of the shooting ranges market. Additionally, state and federal governments of most countries around the globe are encouraging their population, especially the youth, to participate in recreational and shooting sports activities, which is expected to generate revenue in the shooting ranges market.
- Rising participation of women in indoor and outdoor shooting is also a major factor fueling the growth of the market. In addition, participation of women in sports, and military and law enforcement services is a trend expected in rise in the upcoming years. Worldwide growth in the number of gun owners who are expected to meet the criteria to fulfill the certification related to its usage is also propelling the shooting ranges market.
Retrofitting Older Shooting Ranges – A Significant Opportunity for Shooting Ranges Market
- Several defense forces globally are retrofitting older shooting ranges with modern facilities in order to engage soldiers, security officials, and law enforcement forces with real-time fire environment. This factor is projected to be a huge opportunity for the shooting ranges market in the upcoming years. Commercial shooting ranges may also collaborate with sports academies, recreational centers, gun trainers, and professional and private security agencies in order to improve their business. This also is a growth opportunity for the market. Moreover, shooting ranges may also enhance their revenue by improving training facilities, and hosting national and international shooting competitions. Additionally, targeting upcoming mega sports events associated with shooting is also an opportunity for the growth of the market.
Growing Preference for Customized Shooting Ranges: A Key Trend of Market
- In urban areas, majority of the shooting ranges are indoors. Indoor ranges offer protection from external weather conditions and can be manually maintained with a controlled environment condition. Outdoor shooting ranges are usually far from populated areas, owing to rising concerns of human safety and overall environmental issues. Increasing preference for advanced technology and customized solutions for counterattack combat and live fire training sessions is likely to be an ongoing trend in the market.
Cost of Installation of Shooting Ranges to Hamper Market Growth
- High cost of installation of advanced components or integrated modular solutions in shooting ranges may restrict investors from investing in the market. Generally, shooting ranges all over the globe are located at the outskirts of urban or forests areas; this is to adhere to overall safety practices and standards associated with regulatory bodies to operate the business, which may also impact the growth of the shooting range market. In addition, rising environmental issues are a major concern for governments as well as the defense forces while setting up a shooting range or a live fire training station. This factor is negatively impacting the expansion of the shooting ranges market. In addition, high cost of maintenance, operation, and upgrade of shooting ranges are factors that are likely to hamper market growth. The COVID-19 lockdown situation has led to the closure of several commercial spaces, which also affected the growth of the shooting ranges market.
Shooting Ranges Market: Competition Landscape
- Detailed profiles of manufacturers of shooting ranges have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies
- Key players operating in the shooting ranges market include
- Action Target Inc.
- Laser Shot, Inc.
- InVeris Training Solution
- Saab Training and Simulation
- Cubic Corporation
Shooting Ranges Market: Key Developments
- Prominent players in the shooting ranges market are increasing investment on innovative products to fulfill the needs of end users and offer them customized solutions. Manufacturers are also planning to expand their product range and presence in various geographies through mergers & acquisitions, and offer customized solutions to end users.
- Some other key developments in the shooting ranges market are highlighted below:
- In February 2021, InVeris Training Solutions was expected to exhibit a broad range of innovative solutions on two stands during the biennial International Defense Exhibition and Conference at the Abu Dhabi National Exhibition Centre (ADNEC) in the UAE, between February 21 and February 25, 2021
- In July 2020, Cubic Global Defense business division received an indefinite-delivery/indefinite-quantity (ID/IQ) contract worth more than US$ 99 Mn to support the Naval Air Warfare Center Training System Division’s (NAWCTSD) Surface Training Immersive Gaming and Simulations (STIGS) effort. Additionally, the company will also develop, deliver, and offer them with lifecycle support of an advanced virtual environment training system. This will help to improve the U.S. Navy’s Surface Training Advanced Virtual Environment (STAVE) program.
Shooting Ranges Market – Scope of the Report
A new study on the global shooting ranges market has been published by Transparency Market Research (TMR). It presents a wealth of information on key market dynamics, including drivers, market trends, and challenges, as well as the structure of the global shooting ranges market. TMR’s study offers valuable information about the global shooting ranges market to illustrate how the market would grow during the forecast period, 2020 - 2030.
Key indicators of market growth, which include value chain as well as supply chain analyses, and Compound Annual Growth Rate (CAGR), have been elucidated in TMR’s study in a comprehensive manner. This data can help readers interpret quantitative growth aspects of the global shooting ranges market during the forecast period.
An extensive analysis on business strategies of leading market players has also been featured in the TMR’s study on the global shooting ranges market. This can help readers understand principal factors to foresee growth in the global shooting ranges market. In this study, readers can also find specific data on the qualitative and quantitative growth avenues for the global shooting ranges market, which is expected to guide market players in making apt decisions in the future.
Key Questions Answered in TMR’s Shooting Ranges Market Study
- What are the key factors influencing the shooting ranges market in each region?
- What will be the CAGR of the global shooting ranges market between 2020 and 2030?
- What is the future scope and changing trends in technologies in the global shooting ranges market?
- Which factors will impede the growth of the global shooting ranges market during the forecast period?
- Which are the leading companies in the global shooting ranges market?
Research Methodology – Shooting Ranges Market
A unique research methodology has been utilized by TMR to conduct a comprehensive research on the growth of the global shooting ranges market and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Secondary sources referred to by analysts during the production of the global shooting ranges market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of TMR’s study on the shooting ranges market as a primary source.
These primary and secondary sources provided exclusive information during interviews, which serves as a validation from shooting range industry leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global shooting ranges market with accuracy. The study also uses the top-down approach to assess the numbers for each segment and the bottom-up approach to counter-validate them. This has helped in making TMR’s estimates on the future prospects of the global shooting ranges market more reliable and accurate.
Shooting Ranges Market – Segmentation
TMR’s study on the global shooting ranges market includes information categorized into three sections - type, application, and region. Changing industry trends and other crucial market dynamics associated with these sections of the shooting ranges market have been discussed in detail.
|Indoor Shooting Range||
|Outdoor Shooting Range