1. Global Shooting Sports Guns Market Insight Analysis
The global Shooting Sports Guns market revenue is projected to reach $3,482.54 million USD in 2024, with a Compound Annual Growth Rate (CAGR) of 3.92% from 2024 to 2033.
Shooting Sports Guns encompass a wide range of firearms specifically designed for use in various shooting disciplines. These include shotguns, rifles, and handguns, each tailored to meet the specific needs of competitive shooting, hunting, and recreational activities. The market is segmented based on product type, application, and regional distribution, with key players such as Smith & Wesson Brands, Inc., Beretta Holding S.A., and Sturm, Ruger & Co. dominating the industry. The definition of Shooting Sports Guns extends beyond mere weaponry; it represents a culture of sportsmanship, precision, and skill, attracting enthusiasts and professionals alike.
Figure Global Shooting Sports Guns Market Size (M USD) and CAGR (2024-2033)
2. Driving and Limiting Factors of Shooting Sports Guns Market Growth
The growth of the Shooting Sports Guns market is influenced by a variety of factors, both driving and limiting its expansion. On the positive side, the increasing popularity of shooting sports as a recreational and competitive activity is a major driver. Governments in countries like the United States, India, and China are promoting sports participation through funding and programs, which further fuels market growth. Additionally, technological advancements in firearm design and manufacturing have improved the accuracy, reliability, and safety of Shooting Sports Guns, making them more appealing to consumers.
However, the market also faces several challenges. Stringent regulations and laws in many countries, such as the Gun Control Act of 1968 and the European Firearms Directive, restrict the sale and possession of firearms, limiting market potential. The outbreak of COVID-19 has also had a significant impact, disrupting supply chains, reducing consumer demand, and leading to temporary closures of manufacturing facilities. Moreover, increasing manufacturing costs and the high cost of components used in Shooting Sports Guns pose economic challenges to producers.
3. Technology Innovation and Corporate Mergers and Acquisitions in Shooting Sports Guns Market
Technological innovation plays a crucial role in the evolution of the Shooting Sports Guns market. Manufacturers are continuously investing in research and development to enhance firearm performance, safety, and user experience. Innovations include the development of smart firearms with integrated technology, improved materials for lighter and more durable weapons, and advanced sighting systems. For example, SIG SAUER’s CROSS RIFLE features a folding precision-style stock and a one-piece receiver for increased accuracy, showcasing the industry’s commitment to innovation.
Corporate mergers and acquisitions are also shaping the industry landscape. In recent years, significant deals have included Vista Outdoor selling Savage Arms to Long Range Acquisition LLC, and Beretta Holding acquiring Chapuis Armes. These strategic moves allow companies to expand their product portfolios, enhance market presence, and leverage synergies to improve operational efficiency. The acquisition of Chapuis Armes by Beretta Holding, for instance, provides Chapuis with access to a vast international sales network, while Beretta gains expertise in hunting and sporting firearms.
4. Global Shooting Sports Guns Market Size by Type
Shotguns are firearms designed to shoot multiple projectiles (shot) at once, making them ideal for hunting and certain types of competitive shooting. In 2024, the forecasted market revenue for shotguns is expected to reach $765.96 million. Shotguns are particularly popular for hunting birds and small game, as well as for sports like skeet and trap shooting. Their versatility and effectiveness in close-range scenarios contribute to their consistent demand.
Rifles are characterized by their rifled barrels, which impart a spin to the bullet, providing greater accuracy over long distances. The market revenue for rifles in 2024 is projected to be $990.95 million. Rifles are extensively used in hunting larger game and in precision shooting sports. They are also popular among military and law enforcement for their accuracy and range. The demand for rifles is driven by both recreational and professional users, contributing to their significant market share.
Handguns are smaller firearms designed to be held and operated with one hand. They are the most versatile and widely used type of shooting sports gun. The market revenue for handguns in 2024 is forecasted to be $1,725.63 million. Handguns are used in a variety of applications, including self-defense, target shooting, and competitive sports. Their compact size and ease of use make them accessible to a broad range of users, from casual shooters to professional athletes.
Table Global Shooting Sports Guns Market Size by Type in 2024
Market Size (M USD) 2024 | Market Share | |
Shotguns | 765.96 | 21.99% |
Rifles | 990.95 | 28.45% |
Handguns | 1725.63 | 49.55% |
5. Global Shooting Sports Guns Market Size by Application
Competitive Shooting involves organized competitions where participants use firearms to achieve the highest accuracy and precision. In 2024, the market revenue for competitive shooting is expected to be $1,657.10 million. This application includes various disciplines such as pistol shooting, rifle shooting, and shotgun sports.
Hunting is one of the oldest and most traditional uses of firearms. The market revenue for hunting in 2024 is forecasted to be $1,366.77 million. Hunting involves the use of firearms to pursue and harvest game animals. The demand for hunting firearms is influenced by factors such as hunting regulations, availability of game, and the popularity of hunting as a recreational activity.
Recreation includes casual shooting activities that are not part of organized competitions or hunting. The market revenue for recreational shooting in 2024 is projected to be $458.66 million. Recreational shooters often use firearms for target practice, plinking, and other informal shooting activities.
Table Global Shooting Sports Guns Market Size by Application in 2024
Application | Market Size (M USD) 2024 | Market Share |
Competitive Shooting | 1657.10 | 47.58% |
Hunting | 1366.77 | 39.25% |
Recreation | 458.66 | 13.17% |
6. Global Shooting Sports Guns Market by Top Regions
North America is expected to remain the largest regional market by revenue, with a forecasted revenue of $2,029.70 million USD in 2024. The United States, in particular, drives this market due to its strong domestic demand, well-established shooting sports culture, and significant presence of major manufacturers.
Europe is the second-largest market, with a projected revenue of $926.08 million USD in 2024. Countries like Germany, the UK, and France contribute significantly to this revenue. Europe’s market is influenced by a rich tradition of hunting and competitive shooting, supported by a diverse range of firearm manufacturers and a relatively high demand for high-end, precision firearms.
The Asia-Pacific region is the fastest-growing market, with a forecasted revenue of $319.68 million USD in 2024. This growth is driven by emerging economies like China and India, where increasing disposable incomes and government support for sports development are boosting demand.
South America is projected to generate a revenue of $115.64 million USD in 2024. Brazil is the leading market in this region, with a growing interest in shooting sports and an increasing number of participants in competitive events.
Middle East and Africa is expected to contribute $91.45 million USD in revenue in 2024. The Middle East, particularly countries like Saudi Arabia and the UAE, has a growing market driven by affluent consumers and a strong interest in hunting and recreational shooting.
Figure Global Shooting Sports Guns Market Size by Region in 2024
7. Global Shooting Sports Guns Market Analysis by Major Players
7.1 Smith & Wesson Brands, Inc.
Company Introduction and Business Overview: Smith & Wesson Brands, Inc. is a leading manufacturer of firearms, founded in 1852 and headquartered in the United States. The company offers a wide range of products, including pistols, revolvers, rifles, and related accessories. It serves consumers, law enforcement, and security agencies worldwide.
Products Offered: Key products include the M&P15 Rifles, which are versatile and reliable, designed for recreational, sport shooting, and professional applications.
7.2 Beretta Holding S.A.
Company Introduction and Business Overview: Beretta Holding S.A., established in 1995 and headquartered in Italy, is a renowned industrial group specializing in light firearms for hunting, sport, and personal defense. The company operates through various subsidiaries and is known for its high-quality products.
Products Offered: Beretta’s product portfolio includes the 1301 Comp Rifles, designed for dynamic shooting with high performance and reliability.
7.3 Sturm, Ruger & Co.
Company Introduction and Business Overview: Sturm, Ruger & Co., founded in 1949 and headquartered in the United States, is a major manufacturer of firearms. The company primarily serves the U.S. market and offers a wide range of products, including rifles, shotguns, pistols, and revolvers.
Products Offered: Notable products include the LCP®, a compact and lightweight pistol designed for concealed carry and personal defense.
7.4 Remington Outdoor Company
Company Introduction and Business Overview: Remington Outdoor Company, established in 2007 and headquartered in the United States, designs, manufactures, and markets firearms, ammunition, and related products. The company serves hunting, shooting sports, law enforcement, and military markets.
Products Offered: Key products include the VERSA MAX Sportsman shotgun, designed for autoloading technology and performance.
7.5 SIG SAUER
Company Introduction and Business Overview: SIG SAUER, founded in 1976 and headquartered in the United States, designs and manufactures firearms for military, law enforcement, and commercial markets. The company is known for its precision and reliability.
Products Offered: SIG SAUER’s CROSS RIFLE is a notable product, designed for precision long-range shooting and extreme backcountry hunting.