“The Global Riflescopes Market growing at a significant CAGR over next seven years 2019-2025 owing to growing usage in military sector.”

 

The global riflescopes market accounted for US$ XX Mn in 2018 and burgeoning over the forthcoming years. Some of the factors boosting the market growth are growing usage in various applications such as military, and hunting and technological innovations in order to improve precision attack. However, factors which are hindering the market growth are high cost of the equipment, prohibition on hunting.

 

Global riflescopes market segmented on the basis of technology, sight type, range, application and region.

 

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Hunting Dominate the Global Riflescopes Market

Based on application, global riflescopes market segmented into armed forces, hunting and shooting sports. Hunting segment held considerable market growth during estimated period. Scopes are used to increase accuracy when firing at long distances by magnifying the image of the target and provide with a reticle that indicates exactly where the weapon is aimed. Hunters often use a riflescope with a variable magnification. This is because the hunter approaches the target slowly and quietly, and therefore has enough time to adjust the riflescope to make an accurate shot. As hunters have more time to adjust their riflescopes, their targets are generally shot from a greater distance.

 

Asia Pacific Leads the Global Riflescopes market

PBI’s global riflescopes market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis. Asia Pacific witnessed steady growth in the market and the growth of this region can be attributed to rise in cases of hunting in countries such as Japan, South Korea & Australia and rising demand for this market from military sector. Europe has witnessed steady growth in this market due to rising interest towards shooting sports.

 

Launch of newer products, frequent product approvals, patent filings, and strategic alliances are the key strategies adopted by market players

Global riflescopes market further reveals that the key players increasingly adopting strategies such as launch of newer products, frequent product approvals, and long term alliance to improve market revenue share and gaining significant geographic presence across the region.

 

Key player’s profiles in the report are Burris Company, Bushnell, Schmidt & Bender GmbH & Co. Kg, Nightforce Optics, Inc., Hawke Optics, BSA Optics, Vortex Optics, Carl Zeiss AG, Aimpoint and Flir Systems.

 

Precision Business Insights (PBI) in its report titled “Global Riflescopes Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2014-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period over 2019-2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period. Moreover, the report also includes the total revenue and volume for the market.

 

Detailed Segmentation

 

By Technology                                               

• Thermal Imaging
• Laser
• Electro-Optic/IR

 

By Sight Type                                    

• Telescopic
• Reflex 

 

By Range

• Long
• Medium
• Short

 

By Application

• Armed Forces
• Hunting
• Shooting Sports

 

By Geography

• North America

• U.S
• Canada

• Europe

• Germany
• France
• U.K
• Italy
• Spain
• Russia
• Poland
• Rest of Europe

• Asia-Pacific

• Japan
• China
• India
• Australia & New Zealand
• ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
• South Korea
• Rest of Asia-Pacific

• Latin America

• Brazil
• Mexico
• Argentina
• Rest of Latin America

• Middle East and Africa (MEA)

• Gulf Cooperation Council (GCC) Countries
• Israel
• South Africa
• Rest of MEA

 

For more information: https://www.precisionbusinessinsights.com/market-reports/global-riflescopes-market/

 

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