Global Riflescope Market worth 6.87 Billion USD by 2022

The market is estimated to grow from USD 5.36 Billion in 2016 to USD 6.87 Billion in 2022, at a CAGR of 4.24% during the forecast period. Increase in the growth of the market size can be attributed to the rise in popularity of hunting activity in North America and Europe. This report forecasts the riflescope market and its dynamics over the next six years, while also recognizing market application gaps, recent developments in the market, and high potential countries. The objectives of the report are to study the factors influencing the market, map major industry players and competitor landscaping. The year 2015 has been considered as the base year and the forecast period is from 2016 to 2022.

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Based on sight type, the telescopic segment is projected to lead the riflescope market during the forecast period

For precision applications such as hunting or sniping, iron sights have been replaced by telescopic sights. Telescopic sights provides better vision and help shooters aim better at the target. Precision in attack is expected to drive the riflescope market for telescopic sight type.

Based on technology, the thermal imaging/infrared segment of the riflescope market is estimated to grow at the highest CAGR during the forecast period

Riflescopes with the thermal imaging/infrared technology are increasingly finding applications in Armed Forces, owing to their utility in night missions. Animal hunters who hunt at night also use thermal imaging/infrared riflescopes. Owing to these factors, the thermal imaging/infrared segment is estimated to grow at the highest CAGR during the forecast period.

The Europe riflescope market is expected to grow at the highest CAGR during the forecast period

Europe is estimated to lead the riflescope market during the forecast period, owing to the increase in popularity of animal hunting activities, soldier modernization programs, and shooting sports. North America is estimated to be the second-largest market for riflescopes.

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Bushnell (U.S.), Leupold & Stevens Inc. (U.S.), and Burris Optics (U.S.) are some of the key players in the riflescope market

The major challenge for system manufacturers is high cost. The major players in the riflescope market are Bushnell (U.S.), Leupold & Stevens Inc. (U.S.), and Burris Optics (U.S.). This report provides detailed information and forecasts the riflescope market from 2016 to 2022. The riflescope market has been segmented on the basis of application, sight type, technology, and region.  On the basis of application, the Armed Forces segment is estimated to grow at the highest CAGR during the forecast period. Based on application, the hunting segment is estimated to lead the riflescope market during the forecast period. On the basis of technology, the riflescope market has been segmented into electro optic, thermal imaging/infrared, and laser. The thermal imaging/infrared segment is projected to grow at the highest CAGR during the forecast period.

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