Press release
Global Firearm Sight Market Projected to Surpass $2.04 Billion by 2029 with 4.9% Annual Growth
Firearm Sight
The firearm sight market's expansion is projected to be bolstered by increasing military spending. The term 'military expenditure' pertains to the capital a nation allocates towards military initiatives or resources. This budget is utilized for the procurement of new systems, enhancement of existing ones, and conducting research, development, examination, and validation of innovative systems, all of which can catalyze market growth. To illustrate, in April 2024, the Ministry of Defence, the UK Government department charged with national defense, reported an elevation in defense expenditure from $68.63 billion in 2022/23 to $70.45 billion in 2023/24. Consequently, this surge in defense outlay is fueling the upward trajectory of the firearm sight market.
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What Is the projected market size and growth rate for the firearm sight market?
In recent times, there has been consistent growth in the size of the firearm sight market, escalating from a value of $1.61 billion in 2024 to an anticipated $1.68 billion in 2025. This signifies a compound annual growth rate (CAGR) of 4.5%. This progression during the historical period has been driven by factors such as increased demand in the military and defense sectors, the expansion of the civilian market, law enforcement requirements, and developments in night vision sights.
In the coming years, the firearm sight market is projected to experience consistent expansion. The market is anticipated to soar to $2.04 billion in 2029, with a compound annual growth rate (CAGR) of 4.9%. The swift evolution of reflex sights, modular and customizable systems, as well as the advancement in materials and constructions, and the increase in terrorism are significant contributors to this anticipated growth in the forecasted phase. Key trends for this period comprise advancements in smart optical enhancements, user-friendly controls and interfaces, customizable and modular systems, enhanced training functionalities, and wireless connectivity and integration.
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What new trends are reshaping the firearm sight market and its opportunities?
Prominent firms within the firearm industry are pursuing the creation of technologically advanced products, such as unique pistols, catering to the requirements of both casual sport shooters and professional users. The term 'unique pistols' applies to guns that feature contemporary designs and state-of-the-art technology to improve performance, dependability and the user's overall experience. For instance, Heckler & Koch USA, a firearms producer based in the United States, launched the brand-new CC9 pistol in October 2024. The newly released CC9 pistol is crafted for optics-readiness with a dedicated mount for red dot sights, which significantly improves user's target spotting. It comes with a tritium front sight and a blacked-out rear sight, ensuring exceptional visibility in different light conditions. This micro-compact gun merges superior ergonomics and adaptability, making it ideal for concealed carry and daily usage while maintaining reliability enhanced by strict testing standards.
What major market segments define the scope and growth of the firearm sight market?
The firearm sight market covered in this report is segmented -
1) By Type: Full Size, Microdots, Mini Reflex
2) By Platform: Ground-Based, Air-Based, Sea-Based
3) By Application: Hunting, Armed Forces, Other Applications
Subsegments:
1) By Full Size: Standard Red Dot Sights, Reflex Sights, Holographic Sights
2) By Microdots: Compact Red Dot Sights, Miniature Reflex Sights
3) By Mini Reflex: Pistol-mounted Mini Reflex Sights, Shotgun Mini Reflex Sights
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Which region dominates the firearm sight market?
North America was the largest region in the firearm sight market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the firearm sight market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Which key market leaders are driving the firearm sight industry growth?
Major companies operating in the firearm sight market include Nikon Sport Optics, Lucid Optics, SIG Sauer, Swarovski Optik KG., Leupold & Stevens Inc., Burris Company Inc., Vortex Optics, Bushnell Inc., Sellmark Corporation., Trijicon Inc, Meopta USA Inc, EOTech Inc., Meprolight, Crimson Trace Corporation, Primary Arms LLC, Leapers Inc., KAHLES Gesellschaft M.b.H., Steiner EOptics Inc, Holosun Technologies Inc, TruGlo Inc, Athlon Optics, Lightforce USA Incorporated., High Speed Gear, Aimpoint AB, NcSTAR Inc., DI Optical, Swampfox Optics, Delta Optical Thin Film A/S., Command Arms Accessories LLC, Black Spider LLC, Trijicon Electro Optics, Birmingham Small Arms Company Limited., Firefield, Docter Optics SE., Pulsar
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What Is Covered In The Firearm Sight Global Market Report?
•Market Size Forecast: Examine the firearm sight market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the firearm sight market for a structured understanding.
•Key Players Overview: Analyze major players in the firearm sight market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the firearm sight market.
•Segment Contributions: Evaluate how different segments drive overall growth in the firearm sight market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the firearm sight market.
•Industry Challenges: Identify potential risks and obstacles affecting the firearm sight market.
•Competitive Landscape: Review strategic developments in the firearm sight market, including expansions, agreements, and new product launches.
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