Shotgun And Rifles Market Size (2024 - 2029)

The shotgun and rifles market is projected to experience growth driven by the modernization of law enforcement weapons and the procurement initiatives spurred by rising geopolitical conflicts. The increasing defense budgets of various countries facilitate the acquisition of customized weapons, contributing to the market's expansion. Technological advancements in weaponry, such as automation and enhanced sniper accessories, are expected to improve efficiency and accuracy, further influencing market dynamics. However, stringent gun ownership laws and regulatory frameworks pose challenges, particularly for civilian markets, potentially restricting market accessibility and growth.

Market Size of Shotgun And Rifles Industry

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Shotgun and Rifles Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 5.95 Billion
Market Size (2029) USD 7.37 Billion
CAGR (2024 - 2029) 4.36 %
Fastest Growing Market North America
Largest Market North America

Major Players

Shotgun and Rifles Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Shotgun and Rifles Market Analysis

The Shotgun And Rifles Market size is estimated at USD 5.95 billion in 2024, and is expected to reach USD 7.37 billion by 2029, growing at a CAGR of 4.36% during the forecast period (2024-2029).

The rampant incidents of terror attacks have resulted in the modernization of the weapons of law enforcement agencies to prevent such incidences effectively and minimize loss of life. This has driven the demand for rifles and shotguns and is expected to bolster the procurement initiatives during the forecast period. The rise in geopolitical conflicts has driven the procurement of new equipment as part of ongoing soldier modernization programs, the induction of heavily armored vehicles such as main battle tanks (MBTs) and armored personnel carriers (APCs) has driven the demand for Armor-piercing weaponry, such as anti-material rifles. The rising defense budget of various countries allows them to procure customized weapons as required to drive the market.

Technological advancements in automation in bullet loading, self-steering bullets, and cutting-edge technologies in sniper accessories are all expected to make rifles more efficient and accurate in future years. However, incorporating stringent gun ownership laws by various governments will restrict gun manufacturing companies from entering the shotgun and rifle market.

Also, various governments and regions' stringent regulatory frameworks and firearm laws restrain the market's growth, especially for civilian end users. These regulations can include background checks, waiting periods, and limits on firearm ownership, which can affect market accessibility and sales. Compliance with these regulations poses challenges for manufacturers and buyers in the market.

Shotgun and Rifles Industry Segmentation

Shotguns and rifles are two distinct categories of firearms with diverse end users and applications. Shotguns, recognized by smoothbore barrels, are versatile firearms designed to discharge a spread of small pellets (shot) or a single large projectile (slug). Rifles, featuring long-barreled firearms with a rifle bore for improved accuracy, are favored by precision shooters, tactical missions, hunters, and military personnel for applications requiring precise targeting and extended range. Shotgun end users are hunters, sport shooters, and individuals seeking home defense. These firearms cater to a wide array of end users, ranging from civilians to law enforcement agencies and armed forces.

The shotgun and rifles market is segmented by range, end user, weapon loading mechanism, and geography. By range, the market is segmented into short-range, medium-range, and long-range. By end users, the market is segmented into military, civilian, and law enforcement. By weapon loading mechanism, the market is classified into manual and semi-automatic/automatic. The report also covers the market sizes and forecasts for the shotgun and rifles market in major countries across different regions. For each segment, the market size is provided in terms of value (USD).

Range
Short Range
Medium Range
Long Range
End User
Military
Civilian and Law Enforcement
Weapon Loading Mechanism
Manual
Semi-Automotic/Automatic
Geography
North America
United States
Canada
Europe
Germany
United Kingdom
France
Russia
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle-East and Africa
United Arab Emirates
Saudi Arabia
Egypt
Rest of Middle-East and Africa
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Shotgun And Rifles Market Size Summary

The shotgun and rifle market is poised for significant growth over the forecast period, driven by increasing demand from law enforcement and military sectors. The need for modernized weaponry to combat terrorism and geopolitical conflicts has spurred procurement initiatives, with countries investing in advanced rifles and shotguns as part of their defense strategies. Technological advancements, such as automation in bullet loading and improvements in sniper accessories, are expected to enhance the efficiency and accuracy of these weapons. However, stringent gun ownership laws and regulatory frameworks in various regions pose challenges to market expansion, particularly for civilian users. Despite these challenges, the market is witnessing a rise in the utilization of semi-automatic and automatic weapons, fueled by trends in defense equipment modernization and the introduction of high-tech, intelligent weapons.

North America remains the largest market for rifles and shotguns, with the United States military leading the demand. The US Army's substantial budget allocations for new firearms and ammunition, alongside its procurement of foreign-made arms, underscore the region's dominance. Incidents of mass shootings have also driven demand for civilian and homeland security firearms. The market is characterized by fragmentation, with key players like Sturm, Ruger & Co., Inc., Sig Sauer, Inc., and Heckler & Koch GmbH holding significant shares. These manufacturers are focusing on developing advanced products to attract new customers and expand their market presence. Recent contracts and collaborations, such as those involving Sig Sauer and the US Government, highlight ongoing efforts to enhance weapon configurations and integrate new technologies, further propelling market growth.

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Shotgun And Rifles Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

    2. 1.2 Market Restraints

    3. 1.3 Porter's Five Forces Analysis

      1. 1.3.1 Bargaining Power of Suppliers

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Threat of New Entrants

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Range

      1. 2.1.1 Short Range

      2. 2.1.2 Medium Range

      3. 2.1.3 Long Range

    2. 2.2 End User

      1. 2.2.1 Military

      2. 2.2.2 Civilian and Law Enforcement

    3. 2.3 Weapon Loading Mechanism

      1. 2.3.1 Manual

      2. 2.3.2 Semi-Automotic/Automatic

    4. 2.4 Geography

      1. 2.4.1 North America

        1. 2.4.1.1 United States

        2. 2.4.1.2 Canada

      2. 2.4.2 Europe

        1. 2.4.2.1 Germany

        2. 2.4.2.2 United Kingdom

        3. 2.4.2.3 France

        4. 2.4.2.4 Russia

        5. 2.4.2.5 Rest of Europe

      3. 2.4.3 Asia-Pacific

        1. 2.4.3.1 China

        2. 2.4.3.2 India

        3. 2.4.3.3 Japan

        4. 2.4.3.4 South Korea

        5. 2.4.3.5 Rest of Asia-Pacific

      4. 2.4.4 Latin America

        1. 2.4.4.1 Brazil

        2. 2.4.4.2 Mexico

        3. 2.4.4.3 Rest of Latin America

      5. 2.4.5 Middle-East and Africa

        1. 2.4.5.1 United Arab Emirates

        2. 2.4.5.2 Saudi Arabia

        3. 2.4.5.3 Egypt

        4. 2.4.5.4 Rest of Middle-East and Africa

Shotgun And Rifles Market Size FAQs

The Shotgun and Rifles Market size is expected to reach USD 5.95 billion in 2024 and grow at a CAGR of 4.36% to reach USD 7.37 billion by 2029.

In 2024, the Shotgun and Rifles Market size is expected to reach USD 5.95 billion.

Shotgun and Rifles Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)