Description

According to the Market Statsville Group (MSG), the global laser mounted riflescopes market size is expected to grow at a CAGR of 4.2% from 2022 to 2030. The growing demand for hunting and shooting activities and technological developments in the precise attack will likely propel the laser-mounted riflescopes market during the forecast period. In addition, the military modernization contracts provide potential growth opportunities for manufacturers to earn significant market share. However, the high cost of riflescope is among the major factors hampering the global market growth.

Over the last decade, military optical technology has advanced, particularly in telescopic sights, empowering militaries to fire precise shots over longer distances than regular infantry weapons. The increased adoption of riflescopes by the military for various kinds of rifles on various platforms has also expanded opportunities for the laser-mounted riflescopes market. Furthermore, the expanding notion of weapon system integration at the platform level will likely improve the global market for laser-mounted riflescopes.

COVID-19 Impact on the Global Laser Mounted Riflescopes Market

The COVID-19 pandemic disrupted the global manufacturing of laser, sensor, and other components and their assembly lines. The main application of these riflescopes is in the military. The components of laser mounted riflescopes needless of any alteration or replacement due to their durability; therefore, less impact of COVID-19 on laser mounted riflescopes market has been noticed. However, the manufacturing and delivery of riflescopes; were impacted based on the spread of pandemic across countries. Though the companies resumed taking orders; however, the delivery schedule was disrupted.

Many countries decided to slash their overall defense budgets due to the COVID-19 crisis. Defense agencies decided to focus more on sectors of high relevance to national security,  and expenditures for research and non-critical industries were temporarily slashed. However, in contrast to other countries, the United States, China, and certain European countries boosted their planned defense spending throughout the pandemic.

Scope of the Global Laser Mounted Riflescopes Market

The study categorizes the laser-mounted riflescopes market based on sight type, application, weapon compatibility, function, range, and magnification at the regional and global levels.

By Sight Type (Sales, USD Million, 2017-2030)

• Telescopic
• Reflex

By Application (Sales, USD Million, 2017-2030)

• Armed Forces
• Hunting
• Shooting Sports

By Weapon Compatibility (Sales, USD Million, 2017-2030)

• Sniper Rifles
• Automatic Rifles

By Function (Sales, USD Million, 2017-2030)

• Day Sights
• Night Sights

By Range (Sales, USD Million, 2017-2030)

• Short (50 to 100 yards)
• Medium (100 to 500 yards)
• Long (> 500 Yards)

By Magnification (Sales, USD Million, 2017-2030)

• 1-8x
• 8-15x
• > 15x

By Region (Sales, USD Million, 2017-2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • France
  • UK
  • Spain
  • Poland
  • Russia
  • The Netherlands
  • Norway
  • Czech Republic
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Singapore
  • Australia & New Zealand
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Colombia
  • Rest of South America
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Northern Africa
  • Rest of MEA

Telescopic segment is projected to account for the largest market share, based on sight type

Based on sight type, the global laser mounted riflescopes market is divided into telescopic and reflex. In 2021, the telescopic segment accounted for the largest market share, in terms of revenue, in the global laser-mounted riflescopes market. Telescopic sights are optical telescopes that are equipped with several types of graphic image pattern reticles to provide an exact aiming point. Due to the growing demand for hunting applications, telescopic riflescopes are likely to have a larger market share than reflex riflescopes in the coming years.

Asia Pacific accounts for the highest CAGR during the forecast period

Based on the geographic standpoint, the global laser mounted riflescopes market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Asia Pacific is estimated to hold the highest CAGR in the global laser-mounted riflescopes market during the forecast period. The region's rising defense spending is one of the biggest growth catalysts for the laser-mounted riflescopes market. China's riflescope market is likely to be driven by its domestic production base and its defense sector's rising use of assault and sniper rifles.

Global Laser Mounted Riflescopes Market Players

The global laser mounted riflescopes market is highly competitive, with key industry players adopting various strategies such as product development, partnerships, acquisitions, agreements, and expansion to strengthen their market positions. Most market companies focus on expanding operations across regions, augmenting their capabilities, and building strong partner relations.

Major players in the global laser mounted riflescopes market are:

• SIG Sauer, Inc.
• Vortex Optics
• Leupold & Stevens, Inc.
• Burris Company, Inc.
• Trijicon, Inc.
• Nightforce Optics
• Aimpoint AB
• BSA Optics
• Bushnell Corporation
• FLIR Systems

Recent Developments

• In November 2020, SIG SAUER, Inc. announced that TANGO6T had been selected by the U.S. Department of Defense for the Direct View Optic (DVO) in response to a solicitation to enhance squad performance with a variable powered riflescope. Unlike older generation non-magnified or fixed-magnification optics, the TANGO6T is a 1-6X variable-magnification riflescope that enables the soldier to engage both close-quarter targets and targets at extended ranges.
• In February 2021, Leupold & Stevens, Inc. announced the arrival of its new Mark 3HD line of tactical riflescopes. This series delivers various benefits for a shooter with MIL-based adjustments, HD lenses, an exposed elevation adjustment dial, and a low-profile power selector ring.

Key Issues Addressed

• What is the market size by various segmentation of the laser mounted riflescopes by region and its respective countries?
• What are the customer buying behavior, key takeaways, and Porter's 5 forces of the laser mounted riflescopes market?
• What are the key opportunities and trends for manufacturers involved in the laser mounted riflescopes supply chain?
• What are the market's fundamental dynamics (drivers, restraints, opportunities, and challenges)?
• What and how are regulations, schemes, patents, and policies impacting the market's growth?
• What are the upcoming technological solutions influencing market trends? How will existing companies adapt to the new change in technology?
• What will the market player positioning, top winning strategies by years, company product developments, and launches be?
• How has COVID-19 impacted the demand and sales of laser mounted riflescopes in the global market? Also, the expected BPS drop or rise count of the market and market predicted recovery period.
• Detailed analysis of the competitors and their latest launch, and what are the prominent startups introduced in the target market? Also, detailed company profiling of 25+ leading and prominent companies in the market.