Sniper Rifle Market Size 2022, Share, Growth, Latest Trends and Forecast Till 2027

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According to the latest report by IMARC Group, titled “Sniper Rifle Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the global sniper rifle market report.The report also includes competitor and regional analysis, and contemporary advancements in the market.

The global sniper rifle market size reached US$ 2.63 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 3.66 Billion by 2027, exhibiting a growth rate (CAGR) of 5.50% during 2022-2027.

A sniper rifle refers to long-range, portable, and high-precision shoulder ammunition integrated with night-vision and telescopic sight devices that magnify targets and aid in visual aiming. They are available in bolt-action and semi-automatic action models. These sniper rifle categories comprise of spiked feet, lightweight bolt carrier, rear grip, back view extended monopod, detachable muzzle brake, bipod, adjustable scope rings, socket, and spiked feet as standard components.

They can possess bullets for a longer duration in barrels as compared to conventional guns and shoot with much higher velocity and accuracy. Sniper rifle variants are flexible, quick, stable, and capable of destroying aircraft and light armored vehicles and prove highly effective in providing detailed surveillance from concealed positions and neutralizing high-value targets to mitigate combat. Consequently, they find extensive applications across numerous sectors, such as defense, military, law enforcement, etc.

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Market Trends

The escalating geopolitical tensions and terrorist attacks across borders that have prompted the military and defense sector to extensively adopt advanced ammunition are among the key factors driving the sniper rifle market. In line with this, the elevating need to strengthen military bases and the launch of several initiatives by the government bodies aimed at modernizing armed forces are acting as significant growth-inducing factors. Moreover, the rising rate of arms import and export activities across the globe are also positively influencing the market growth.

Apart from this, the development of technologically progressive sniper rifles equipped with efficient bullet loading capacities, enhanced range and accuracy, and automatic steering facilities that help to demolish rival targets efficiently is further stimulating the global market. In addition to this, the increasing product adoption in sports shooting is expected to propel the sniper rifle market over the forecasted period.

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Accuracy International, B&T AG, FN Herstal, H&K AG (Compagnie De Developpement De L’Eau S.A.), Knights Armament Co, PGM Precision, PGW Defence Technology Inc., Savage Arms Inc., SNT Motiv Co. Ltd., Strategic Armory Corps and Zastava Arms USA.

Report Segmentation:

The report has been segmented the market into following categories:

Breakup by Type:

  • Bolt-Action
  • Semi-Automatic Action 

Breakup by Range:

  • Up to 1,000 meters
  • Beyond 1,000 meters

Breakup by Application:

  • Civilian
  • Law Enforcement
  • Military

Regional Insights:

  • Asia Pacific
  • North America
  • Europe
  • Middle East and Africa
  • Latin America

On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.

Key highlights of the report:

  • Market Performance (2016-2021)
  • Market Outlook (2022- 2027)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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