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.
