Spotting scope helps to enhance one’s aim by pinpointing and magnifying a target. Based on product types, the market is segmented into angled body spotting scope and straight body spotting scope. In 2016, among the various product types, angled body spotting scope segment dominated the market followed by straight body spotting scope. In addition, angled body spotting scope is also expected to grow at the highest rate for the coming years. Increase in the demand angled body spotting scope from various military agencies is one of the major factor fuelling the demand of the spotting scope market for the forecast period. Increase in use of spotting scope in shooting sports and hunting is one of the key factor fuelling the demand of spotting scope market for the forecast period.
Based on application, the market is segmented into military, hunters, bird watches and others. In 2016, among the various application, military segment dominated the market followed by hunters. In addition, military is also expected to grow at the highest rate for the coming years. Military up gradation programs is the major driver driving the market for the military segment in spotting scope during the forecast period. Technological advancement in the spotting scope is one of the major key factor fuelling the demand of the spotting scope market for the forecast period of the 2017 – 2025.
Based on end user, the market is segmented into defense & law enforcement and civilian. In 2016, among the various end user, civilian segment dominated the market followed by defense & law enforcement. In addition, defense & law enforcement is also expected to grow at the highest rate for the coming years. Increase in the interest in bird watching and hunting is the major driver driving the market for the spotting scope for the forecast period. Easy availability of spotting scopes through various channels such as online shopping websites is one of the key factor boosting the market for the spotting scope during the forecast period.
Advancement in riflescope technology for precision attack, increase in the use of spotting scope in hunting and up gradation of military programs are some of the key factor fuelling the demand of the scope spotting market during the forecast period of 2017 – 2025. However, ban on hunting in some part of the globe is one of the major restraint restraining the market for the scope spotting during the forecast period.
The geographical split of the market includes North America, Asia Pacific, Europe, Latin America, and Middle East and Africa. In 2016, Europe dominated the market for the spotting scope followed by North America. In 2016, the U.K. was the major market for Europe. Increasing popularity of shooting sports and hunting in European countries such as the U.K. and Germany among others is expected to boost the market for the spotting scope market in Europe during the forecast period of 2017 – 2025. North America is expected to grow at the stable rate for the forecast period. The U.S. is expected to be the major market for spotting scope. Military up gradation program and increasing interest in hunting are some of the key factor driving the market for the spotting scope in North America. Asia Pacific is expected to grow at the highest CAGR during the forecast period of 2017 – 2025. China is the major market for Asia Pacific spotting scope market. India is expected to grow at the highest CAGR during the forecast period of 2017 – 2025.
Increase in the defense budget by several developing countries in Asia Pacific such as China and India among others is major driver driving the market for the spotting scope in Asia Pacific. Rapid modernization of military program is one of the key factor fuelling the demand of the spotting scope market in Asia Pacific. Development programs by military to improve the demand for progressive spotting scope is major key trend for the Asia Pacific spotting scope market during the forecast period of 2017 – 2025. Middle East & Africa and Latin America is expected to grow at the highest CAGR for the forecast period of 2017 – 2025. Saudi Arabia is expected to be the major market for Middle East and Africa spotting scope market. Increasing usage of spotting scope in hunting sports and shooting is one of the key factor fuelling the market for the spotting scope market.
The major players in the Spotting Scope market are Nikon (Japan), Vortex (United States), Celestron (United States), Leupold Optics (United States), KOWA Optimed (United States), SWAROVSKI OPTIK (Austria), Pentax (Japan), Leica (Germany), Meade Instruments (United States) and Zeiss (Germany) among others.
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