Air Gun Market Set to Grow with Massive CAGR by 2027

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)

Publication Month : Feb 2020

  • Report Code : TIPRE00008790
  • Category : Aerospace and Defense
  • Status : Published
  • No. of Pages : 167
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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.

Individuals' growing interest in sports and leisure activities, such as shooting, which demands an air pistol with high precision, accuracy, and speed, is propelling the air gun market worldwide. One of the major drivers of the air gun market is the growing number of athletic events across the world. The sporting event includes a variety of shooting sports with varying shooting distances, equipment, time limitations, targets, and athleticism levels. In colonial America, target shooting is one of the favorite sports, and the federal laws are also lenient compared to other countries. Several sporting events such as Asian Games, Olympics, Montana 4-H Shooting Sports Events, World Shooting Para Sport World Cup, and Commonwealth Games organize rifles and pistol shooting competitions for different categories. All these events require air pistols and air rifles of better efficiency and accuracy.

Rifles and pistols used in this competition have a specific predefined range. For −400 yards, air rifles with 0.177 calibers, shoot a pellet depending on the category of the rifle, the velocity with which the pellet is fired from the rifle, the distance, the angle, and the direction of the wind. Similarly, the caliber range of air pistols varies from 0.177 to 0.22 calibers for 15–60 yards of a range, which depends on the model of the air pistol. Thus, air gun meeting all these requirements are selected for sporting events. The continuous growth in the number of such shooting events worldwide is boosting the demand for air guns. North America and Europe are engaged in arranging a large number of such events and thus are projected to create huge traction for air gun manufacturers.

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Air Gun Market: Strategic Insights

airgun-market
Market Size Value inUS$ 2,135.8 Million in 2019
Market Size Value byUS$ 3,897.0 Million by 2027
Growth rateCAGR of 8.2% from 2020-2027
Forecast Period2020-2027
Base Year2020
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– Air Gun Market

The APAC air gun market is further segmented into Australia, India, China, Japan, South Korea, and the Rest of APAC.  As tension and conflicts continue to rise across countries such as India, China, and Pakistan, the military's strategic procurement of considerably huge numbers of air rifles and air gun has positively impacted the air gun market growth in the region. Several government rules and regulations are set for the purchaser across various countries. In Australia, the government announced various laws for the procurement of air gun such as air rifles that are considered Class A firearms to be used for legal purposes, air pistol shooters should have a membership as well as sufficient attendance as a member of authorized pistol club for six months before becoming an owner of the air pistol. Similarly, in China, the regulation for air gun usage is considered to be the most stringent one across the world. The rising interest of individuals in hunting and shooting is forcing the Government of China to modify their laws to some extent and support the young generation to further enhance and develop their interests. The Asian countries are mainly emerging and fragmented markets; they face challenges such as growing inflation, cost pressures, market competitiveness, and market volatility. To address these issues, manufacturers and suppliers eagerly look ahead for air gun to maximize and improve the visibility of the user to procure these guns.

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Air Gun Market Segments

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).

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 leading players in the market, according to the air gun market analysis.

Ammunition Type - Based Air Gun Market Insights

According to the air gun market, the ammunition type segment is categorized into airgun pellets, airgun BBs, big bore pellets, hunting pellets, cleaning pellets, and others. The airgun pellets segment led the air gun market in 2018 and is anticipated to continue its dominance during the forecast period. An air gun pellet is a projectile of different shapes made to be shot from an air gun. The pellets used in air gun are different from the bullets used in firearms. The firearms operate at the pressure of thousands of atmospheres, whereas air gun operates at a pressure lower than 50 atm. The airgun pellets market size is estimated to be surge over the years till 2027, pertaining to the fact that the manufacturers of air gun across the globe are experiencing substantial growth in the adoption of their products. The rise in procurement of air gun directly impacts the growth in demand for air gun pellets. The competition shooting events are rising year on year, which is posting a growth avenue for air gun pellet manufacturers as well air gun manufacturers to scale up their sales figures. This factor is driving the air gun pellets manufacturers.

The players operating in the air gun market are mainly focused on the development of advanced and efficient products. Air gun market companies are implementing various strategies to match the technological advancements in the air gun market.

  • In 2019, Velocity Outdoor launched the new Benjamin 397S and 392S. The new 397S (0.177 caliber) and the 392S (0.22 caliber) multi pump pneumatic rifle features a NEW sleek all-weather synthetic Monte Carlo stock and fully rifled barrel and a robust forearm making it easier to pump. These air rifles achieve velocities up to 1100 fps on the 397S and up to 800 fps on the 392S with pinpoint accuracy.
  • In 2018, Velocity Outdoor Inc., acquired Ravin Crossbows, LLC for US$ 94 million. The acquisition of Ravin is expected to position Velocity Outdoor to more fully capitalize on the sizeable crossbow market, further diversify its client base and take benefit of the product and market expertise inside of Ravin.
  • In 2017, Smith & Wesson introduced M&P M2.0 Pistol. M&P M2.0 pistol is the culmination of a decade of research and design.  Designed for professional, personal and sporting use, the M&P M2.0 pistol features upgrades to nearly every aspect including trigger, grip, frame, and finish.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Product ; Ammunition Type ; Accessories

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


What are reasons behind North America air gun market growth?

The regional federal law offers the firearm regulation in the US; however, states and cities impose restrictions on the usage of these guns. Many states, namely Alaska, Idaho, and Kansas, have passed numerous laws to abolish federal gun legislation, whereas legal experts stated that these laws are unconstitutional. 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 gun with the continuous developments of air gun for recreational hunting activities.

What are market opportunities for air gun?

In the MEA, the UAE and Africa are perceiving significant demand for air rifles for hunting purposes. The countries have a different rules for the possession of air rifles, which mainly depend on the caliber and muzzle energy of the guns. The UAE regulates somewhat lenient regulation as compared to other countries in the region; it is easy for individuals to apply for air gun possession. Likewise, in South Africa, a valid hunting license must be issued from the relevant provincial authority, which includes a permit authorizing for the usage of an air rifle for hunting. Thus, MEA region is creating a huge opportunities for the air gun manufacturers to expand their foothold in these regions

Which accessories holds the major share in air gun market?

The sights are among the prominent and crucial accessories of any air gun. The air gun manufacturers emphasize heavily on the development of precise and accurate sights with an objective to allow the shooter to have an accurate measurement of the target. The sights are equipped on both the rifles and pistols. The demand for air pistols is all time high pertaining to the less expensive characteristics. This factor rises the demand for sights among the air pistol manufacturers, which enables the manufacturers to procure increased quantity of sights, helping the market size of sights segment to grow.

The List of Companies - Air Gun Market

  1. Airforce Airguns
  2. Carl Walther GmbH
  3. Daisy Outdoor Products Inc.
  4. Feinwerkbau GmbH
  5. GAMO OUTDOOR, S.L.U
  6. Morini Competition Arm SA
  7. Smith & Wesson
  8. Sport Manufacturing Group Inc.
  9. Sport Manufacturing Group Inc.
  10. Velocity Outdoor Inc.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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