Air Gun Market is expected to reach US$ 3,897.0 Million by 2027

PRESS RELEASE BY The Insight Partners 24 Feb 2020

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Reduction in Prices of Air Gun in Developing Countries to Drive Air Gun Market Growth During 2020–2027

According to our latest market study on “Air Gun Market Forecast to 2027 – Global Analysis – by Product Type, Ammunition, and Accessories,” the air gun market size is expected to grow from US$ 2,135.8 million in 2019 to US$ 3,897.0 million by 2027; it is estimated to witness healthy market growth of 8.2% CAGR from 2020 to 2027.

The air gun is gaining popularity in the current scenario, attributing to the growing awareness among individuals, including competitive shooters, hunters, and trainers. The domestic trade and ownership of air guns are unregulated in the US, and due to this, the number of air gun owners is significant in the country. Additionally, the prices of air rifles and air pistols are comparatively low. Apart from the US, the demand for air guns is on the rise; however, the adoption is substantially restricted by higher prices. Rising demand for air guns in APAC and the MEA, especially for competition shooting and hunting exercises, reduction in air gun prices would benefit manufacturers heavily. With the decrease in costs, the procurement rate is expected to stall, which would finally escalate the regional and international manufacturer's net sales year on year. Thus, a reduction in air gun prices is projected to throttle the market size of air guns in the future.

The air gun market is segmented on the basis of product, ammunition type, accessories, and geography. By product, the air gun market is segmented into rifle and pistol. Based on ammunition type, the air gun market is segmented into airgun pellets, airgun BBs, big bore pellets, hunting pellets, cleaning pellets, and others. By accessories, the air gun market is segmented into scopes, sights, mounts, binoculars, compressors, and others. On the basis of geography, the air gun market size is primarily segregated into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). According to the air gun market forecast analysis, North America held the largest share in 2019.

The American government focuses on the military sector and regularly increases the military budget. In 2018, the US Department of Defense (DOD) assigned a budget of US$ 648 billion. Additionally, Canada and Mexico spent US$ 21.6 billion and US$ 6.6 billion, respectively, on the military sector in the same year. In North America, the US and Canada are the major countries where the government is making additional expenditures for the development of the military sector. GAMO TC35 (.35-caliber), TC45 (.45-caliber), PCP (.22-caliber), and SIG SAUER ASP20 are among a few air rifles used in the military sector. The governments of the region are focusing heavily on the development of new rules and regulations for providing licenses to individuals to use air guns for different purposes. The new generation of firearms forces a few states to review their hunting rules and regulations. These air guns use larger calibers, produce about 300–700 foot-pounds of energy and are commercially available. The increasing tradition of both firearm ownership and hunting in the US is among the major factors driving the growth of the air gun market. Furthermore, in 2019, the growing number of new customers in Texas at a dedicated air gun shop in the state “AirGuns of Texas” in Abilene has grown by 30%. Moreover, the rise in the number of young hunters with a loud bang of a centerfire rifle permits them to develop a flinch when pulling the trigger. Texas is implementing new regulations for state wildlife agencies to interact with the Fort Worth-based manufacturer, which is indulged in producing one of a half-dozen of big-bore air gun models. The governments in the region have announced various laws and regulations for the adoption of air guns with the continuous developments of air guns for recreational hunting activities. Pyramyd Air, Umarex USA, Beeman Precision Airguns, and Crosman are among the air gun manufacturers in North America. The presence of a significantly large number of players in the region is expected to boost the market growth.

Airforce Airguns; Velocity Outdoor Inc.; Daisy Outdoor Products Inc.; Feinwerkbau GmbH; GAMO Outdoor, S.L.U; Morini Competition Arm SA; Smith & Wesson; Carl Walther GmbH; Sport Manufacturing Group Inc.; and STURM, RUGER & COMPANY, INC. are a few key players operating in the air gun market. In addition, several other important air gun market players were studied and analyzed during the course of this study to get a holistic view of the global & regional market share and its ecosystem.

Air Gun Market Share – by Region, 2019Air Gun Market Share – by Region, 2019

Air Gun Market Set to Grow with Massive CAGR by 2027

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Air Gun Market to 2027 - Global Analysis and Forecasts by Product (Rifle and Pistol); Ammunition Type (Airgun Pellets, Airgun BBs, Big Bore Pellets, Hunting Pellets, Cleaning Pellets, Others); Accessories (Scopes, Sights, Mounts, Binoculars, Compressors, Others)

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