Market Size of Sniper Rifle Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.17 % |
| Fastest Growing Market | North America |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Sniper Rifle Market Analysis
The sniper rifle market size was valued at USD 141.86 million in 2023 and is forecasted to reach USD 182.56 million by 2028, registering a CAGR of 5.17% during the forecast period.
- The decline in the pandemic promoted opportunities for trade between countries without restrictions, and the lifting of the lockdown enabled workers to return to factories companies were able to gradually increase their production process and witness profitable business owing to the gradual increase in demand for sniper rifles by many countries, and this is expected to lead the sniper rifle market to witness growth during the forecast period.
- The procurement of sniper rifles is affected by many factors, such as the age of the existing rifles, engagement profile, increase in the number of sniper squadrons, the topography of battlefields, and availability of better technology. In the military segment, the growth in sniper rifle procurements can be attributed to the increasing defense expenditure and equipment modernization initiatives from various armed forces across the world. Various government regulations and illegal weapons transfer to perpetrators hamper the civilian use of rifles for long-range precision shooting. Technological advancements in automation in bullet loading, self-steering bullets, and cutting-edge technologies in sniper accessories are all expected to make sniper rifles more efficient and accurate during the forecast period.
Sniper Rifle Industry Segmentation
Sniper rifles are high-precision, long-range rifles that are used in both military and law enforcement applications. The modern sniper rifle is a portable shoulder-fired weapon system with a choice between a bolt action or semi-automatic action. It is fitted with a telescopic sight for extreme accuracy.
The Sniper rifle market report has been segmented by range, application, and geography. By range, the market has been segmented up to 1,000 meters and beyond 1,000 meters. By application, the market has been segmented by civilian, law enforcement, and military. By geography, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
The market sizing and forecasts for all the segments have been provided in value (USD).
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Sniper Rifle Market Size Summary
The sniper rifle market is poised for growth, driven by increasing demand from military sectors worldwide. The lifting of pandemic-related restrictions has facilitated international trade and production, contributing to the market's expansion. Key factors influencing procurement include the aging of existing rifles, the need for modernization, and advancements in battlefield technology. Military expenditure and equipment upgrades are significant drivers, with countries like India and the United States actively enhancing their arsenals. Technological innovations, such as automation in bullet loading and self-steering bullets, are expected to improve the efficiency and accuracy of sniper rifles, further propelling market growth.
In North America, military modernization programs are a major catalyst for the sniper rifle market's expansion. The US Marine Corps, for instance, is replacing older models with advanced systems like the Mk22 Mod 0, which features a precision day optic and a multi-caliber platform. Prominent industry players, including SNT Motiv Co., Ltd., Savage Arms, Inc., and Knights Armament Co, are developing advanced rifles capable of supporting multiple ammunition types. These companies benefit from a robust global supply chain and strategic government support, enhancing their market presence. Contracts for new rifle systems, such as those signed by Sako Ltd. with various defense forces, underscore the ongoing demand for high-precision sniper rifles.
Sniper Rifle Market Size - Table of Contents
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1. Market Dynamics
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Industry Attractiveness - Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. Market Segmentation
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2.1 Range
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2.1.1 Upto 1,000 Meters
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2.1.2 Beyond 1,000 Meters
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2.2 Application
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2.2.1 Civilian
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2.2.2 Law Enforcement
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2.2.3 Military
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Russia
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2.3.2.5 Italy
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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 India
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2.3.3.3 Japan
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2.3.3.4 South Korea
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2.3.3.5 Australia
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2.3.3.6 Rest of Asia-Pacific
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2.3.4 Latin America
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2.3.4.1 Mexico
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2.3.4.2 Brazil
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2.3.5 Middle East and Africa
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2.3.5.1 United Arab Emirates
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2.3.5.2 Saudi Arabia
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2.3.5.3 Turkey
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2.3.5.4 South Africa
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2.3.5.5 Rest of Middle East and Africa
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Sniper Rifle Market Size FAQs
What is the current Sniper Rifle Market size?
The Sniper Rifle Market is projected to register a CAGR of 5.17% during the forecast period (2024-2029)
Who are the key players in Sniper Rifle Market?
SNT Motiv Co., Ltd., Savage Arms, Inc., Knights Armament Co, Strategic Armory Corps LLC and Herstal Group are the major companies operating in the Sniper Rifle Market.
