|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
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The sniper rifle market is anticipated to register a CAGR of 2.5% during the forecast period.
The COVID-19 pandemic had a moderate effect on the sniper rifle market. The onset of the COVID-19 pandemic led to a decline in procurement orders for sniper rifles by various countries owing to restrictions in trade and lockdown. Moreover, a decline in the production of sniper rifles by various companies owing to a reduction in the workforce led to manufacturers being unable to meet the production deadlines and this led to various manufacturers facing heavy losses. 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 will lead to the sniper rifle market witnessing 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. The civilian use of rifles for long-range precision shooting is hampered by various government regulations and illegal weapons transfer to perpetrators. Technological advancements in terms of 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.
Scope of the Report
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 and is fitted with a telescopic sight for extreme accuracy.
Additionally, the report has been segmented by range, application, and by geography. By range, the market has been segmented by up to 1000 meters and beyond 1000 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. Moreover, the report offers a market forecast and is represented by USD million. Furthermore, the report also includes various key statistics on the market status of leading market players and provides key trends and opportunities in the sniper rifle market.
|Upto 1000 Meters|
|Beyond 1000 Meters|
Key Market Trends
By Application, The Military is Expected to Witness Significant Growth During the Forecast Period
By application, the military is expected to witness significant growth during the forecast period. The primary function of a sniper in modern warfare accounts to providing detailed surveillance from a concealed position and, if necessary, to reduce the enemy's combat ability by neutralizing high-value targets. Various companies such as S&T Motiv Co. Ltd, Savage Arms, FN Herstal, and Remington Arms Company LLC amongst others are now engaged in the manufacturing of advanced sniper rifles for military personnel worldwide.
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. Countries such as India and the United States of America have been upgrading their military by procuring various advanced sniper rifles and through equipment modernization initiatives. For instance,
In 2022, the Indian Armed Forces announced that they are taking the delivery of 750 Sako TRG-42 sniper rifles from Finland and around 355,000 rounds of specialized .338 Lapua Magnum rounds for an estimated cost of USD 7-8 million. According to the proposal request from the Indian Army, 212 rifles have been intended to be procured for the Indian Air Force as well as 88 sniper rifles will be acquired by the Indian Navy. Various sniper rifles which have been a part of the United States army such as the Barett M82, M40 and the Barett MRAD have been considered to be the most deadliest snipers which is still being used by the army. Thus, such advancements will lead to the growth of sniper rifles for the military during the forecast period.
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The North American Region is Expected to Witness Significant Growth During the Forecast Period
The North American Region is expected to witness significant growth during the forecast period. Military modernization programs and equipment modernization initiatives in the North American region will be a major factor in the growth of the sniper rifle market during the forecast period in the region.
In 2022, the United States Marine Corps is in plans to replace their legacy M40A6 and Mk13 Mod 7 bolt-action sniper rifles with advanced Mk22 Mod 0 from the Barrett company. According to the company, the Mk22 was originally selected through a joint effort between Marine Corps Systems Command, Marine Forces Special Operations Command, and the United States Army Special Operations Command. The Mk22 Mod 0 Advanced Sniper Rifle is a bolt-action precision rifle that incorporates a 7-35 power Precision Day Optic and a caliber-agnostic flash and sound suppressor. Moreover, the rifle uses a 10-round detachable magazine and as a multi-caliber platform can be configured to fire .338 Norma Magnum, .300 NM or 7.62x51mm.
In March 2021, Barrett announced that they have been awarded a five-year contract for supplying approximately 2,800 sniper rifles to the United States Army. Moreover in 2022, the New York City Department of Correction is investing USD 100,000 to purchase 10 sniper rifles for Rikers Island in order to address the security issues. Thus, advancements such the ones mentioned will lead to the sniper rifle market witnessing growth in the North American region during the forecast period.
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Some of the prominent players in the Sniper Rifle Market are S&T Motiv Co. Ltd, Savage Arms, FN Herstal, Remington Arms Company LLC, and Knights Armament Co amongst others.
Various companies are now developing advanced sniper rifles which are more lethal and are capable of supporting two different types of ammunition. Since these companies have a global footprint and robust supply chain, this aids to increase their market presence. The local companies running with the support of the national government are the key competitors in the market and have developed the ability to supply sniper rifles with high accuracy at a relatively low price, while also meeting all the requirements set by the global armed forces.
S&T Motiv Co. Ltd
Remington Arms Company LLC
Knights Armament Co
In June 2022, the Indian Armed Forces announced that they have initiated a fresh process to purchase more than 4,800 sniper rifles worth USD 60-70 million. 4,800 sniper rifles with telescopic sight will be purchased by the Indian Defense Forces under the "Buy Indian" category along with 78 lakh rounds of ammunition. Moreover, around 4,500 sniper rifles will go to the Army, over 200 to the Indian Air Force, and the rest to the Navy.
In January 2022, the first multi-caliber sniper rifle, the KN-12 will enter the Turkish Armed Forces (TSK) inventory. The rifle, along with other light and heavy weapon systems is being developed by the Machinery and Chemical Industry (MKE) and was exhibited as part of the EFES-2022 Combined Joint Field Fire Exercise that was conducted in the Aegean. Moreover, the sniper rifle makes use of two different, the 7.62 and 8.59 millimeters ammunition.
In January 2022, according to the information released by the company Sako, the Finnish Defence Forces Logistics Command and Sako Ltd signed a contract for the procurement of the new Rifle System M23 from the company. The total value of the procurement including the value added tax will be approximately EUR 10 million. Moreover, the contract also includes an additional procurement option for possible subsequent procurements.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. Market Segmentation
5.1.1 Upto 1000 Meters
5.1.2 Beyond 1000 Meters
5.2.2 Law Enforcement
5.3.1 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
184.108.40.206 South Korea
220.127.116.11 Rest of Asia-Pacific
5.3.4 Latin America
5.3.5 Middle East and Africa
18.104.22.168 United Arab Emirates
22.214.171.124 Saudi Arabia
126.96.36.199 South Africa
188.8.131.52 Rest of Middle East and Africa
6. Competitive Landscape
6.1 Vendor Market Share
6.2 Company Profile
6.2.1 S&T Motiv Co. Ltd
6.2.2 Savage Arms
6.2.3 FN HERSTAL
6.2.4 Remington Arms Company LLC
6.2.5 Knights Armament Co
6.2.6 Accuracy International
6.2.7 STRATEGIC ARMORY CORPS.
6.2.8 Zastava arms
6.2.9 B&T AG
6.2.10 Denel SOC Ltd
6.2.11 PGM Precision
6.2.12 Beretta Holding SA
6.2.13 H&K AG
7. Market Opportunities and Future Trends
Frequently Asked Questions
What is the study period of this market?
The Sniper Rifle Market market is studied from 2018 - 2027.
What is the growth rate of Sniper Rifle Market?
The Sniper Rifle Market is growing at a CAGR of 2.5% over the next 5 years.
What is Sniper Rifle Market size in 2018?
The Sniper Rifle Market is valued at 1 Million USD in 2018.
What is Sniper Rifle Market size in 2027?
The Sniper Rifle Market is valued at 2 Million USD in 2027.
Which region has highest growth rate in Sniper Rifle Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Sniper Rifle Market?
North America holds highest share in 2021.
Who are the key players in Sniper Rifle Market?
S&T Motiv Co. Ltd, Savage Arms, FN Herstal, Remington Arms Company LLC, Knights Armament Co are the major companies operating in Sniper Rifle Market.