Pune, Maharashtra Apr 17, 2020 (Issuewire.com) - The global air gun market accounted for US$ 2,045.5 Mn in 2018 and is expected to grow at a CAGR of 8.2% over the forecast period 2019-2027, to account for US$ 3,897.0 Mn by 2027.
The global air gun market is experiencing a stable growth in the current scenario as well as anticipated to continue its growth in the forecast period. The market for air gun involves a number of tier1, tier2 and tier3 companies globally which capitalizes considerable amounts with an objective to design and manufacture air pistols and air rifles along with its accessories such as scopes, sights, mounts, binoculars, compressors, and others. The constant increase in the number of sporting events as well as the growing interest of civilians for animal hunting is paving the path for air gun market in the current scenario. Moreover, the air gun market is experiencing steady growth through strategic partnerships, new product development, collaborations, and strategic acquisitions to boost the air gun market
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Leading companies profiled in the report include Airforce Airguns, Carl Walther GmbH, Daisy Outdoor Products Inc., Feinwerkbau GmbH, GAMO OUTDOOR, S.L.U, Morini Competition Arm SA, Smith & Wesson, Sport Manufacturing Group Inc., Sport Manufacturing Group Inc., Velocity Outdoor Inc
The dominance of North America in the global air gun market is since; the governments of the region are focusing heavily on the development of new rules and regulations for providing a license to an individual to use air gun for different purposes. The new generation of firearms is forcing some states to review their hunting rules and regulations. Primarily, some of the states majorly concentrated on airguns as it is usually to exclude the use of air gun for hunting game animals. This factor is heavily fueling the growth in the procurement of air pistols and air rifles in the country, which is catalyzing the growth of air gun market in North America substantially. Europe region held the second largest market share in the global air gun market in 2018, followed by APAC. The region conducts several numbers of sporting events every year, which includes shooting as one of the competitions.
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