Guns and Accessories Market to Worth USD 9.33 Billion by 2027 | With a 6.15% CAGR

The key companies covered in guns and accessories market are AMERICAN OUTDOOR BRANDS INC. (the U.S.), Fabbrica d’Armi Pietro Beretta S.p.A. (Italy), FN HERSTAL (Belgium), General Dynamics Corporation (the U.S.), Heckler & Koch GmbH (Germany), Lockheed Martin Corporation (the U.S.), Northrop Grumman Corporation (the U.S.), REMINGTON OUTDOOR COMPANY (the U.S.), Savage (Massachusetts, the U.S.),Sturm, Ruger & Co., Inc. (the U.S.), And TAURUS INTERNATIONAL MANUFACTURING, INC. (the U.S.), and more players profiled.

Pune, India, May 30, 2023 (GLOBE NEWSWIRE) — According to Fortune Business Insights™, the global guns and accessories market is expected to grow at a compound annual growth rate (CAGR) of 6.15%, reaching a projected size of USD 9.33 billion by 2027. In 2019, the market was valued at USD 6.14 billion. This indicates a significant growth potential for the industry as it continues to expand.

The guns and accessories market refers to the industry involved in the manufacturing, distribution, and sales of firearms and related equipment. This includes handguns, rifles, shotguns, ammunition, optics, scopes, gun cases, holsters, and various other accessories used by firearm owners and enthusiasts. The market is driven by factors such as personal safety concerns, sporting and recreational activities, military and law enforcement requirements, and the growing popularity of shooting sports. Additionally, factors like technological advancements in firearm manufacturing, customization options, and the increasing demand for self-defense tools contribute to the growth of the market.

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List of companies profiled in the Guns and Accessories Market report are:

• AMERICAN OUTDOOR BRANDS INC. (the U.S.)
• Fabbrica d’Armi Pietro Beretta S.p.A. (Italy)
• FN HERSTAL (Belgium)
• General Dynamics Corporation (the U.S.)
• Heckler & Koch GmbH (Germany)
• Lockheed Martin Corporation (the U.S.)
• Northrop Grumman Corporation (the U.S.)
• REMINGTON OUTDOOR COMPANY (the U.S.)
• Savage (Massachusetts, the U.S.)
• Sturm, Ruger & Co., Inc. (the U.S.)
• TAURUS INTERNATIONAL MANUFACTURING, INC. (the U.S.)
• Other Players

Report Scope & Segmentation:

Browse Detailed Summary of Research Report with TOC:

https://www.fortunebusinessinsights.com/gun-and-accessories-market-103536#summary

COVID-19 Impact:

The guns and accessories market, like many other industries, has been impacted by the COVID-19 pandemic. The outbreak and subsequent lockdown measures in various countries have affected manufacturing operations, disrupted supply chains, and led to changes in consumer behavior.

Segments:

By Type

• Guns
• Handgun
• Shotgun
• Rifles
• Machine Gun
• Accessories
• Barrels
• Grips
• Magazines
• Kits and Parts
• Optics, Lasers, and Lights
• Others

By Application

• Defense
• Law Enforcement
• Civil
• Hunting
• Sports Shooting
• Self-Defense
• Others

By Geography

• North America (the U.S. and Canada)
• Europe (Germany, the U.K, France, Russia, and Rest of Europe)
• Asia Pacific (China, Japan, South Korea, India, and Rest of Asia Pacific)
• Rest of the World (The Middle East & Africa and Latin America)

Report Coverage

The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market’s key players.

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Market Driver

Promoting the Adoption of Guns and Accessories Through Heightened Violence

The increasing demand for guns and accessories in several countries can be attributed to their primary use by defense forces and law enforcement agencies in situations of war and counterterrorism. This demand has been further fueled by the rise in terrorist activities, cross-border conflicts, and political unrest globally. As a result, there is a growing need for firearms and related accessories to address these security challenges effectively.

In addition to the security concerns, the guns and accessories market is also benefiting from the increased defense expenditures and the procurement of advanced firearms by various nations. Many countries are actively pursuing military modernization programs to enhance their defense capabilities, which further drives the market growth for guns and accessories.

Market Growth to be Boosted by Increasing Demand for Guns in Civilian Applications

The market growth is set to soar as the demand for guns and related accessories in various civilian applications, including hunting, sports shooting, self-defense, and more, continues to rise. This surge is further fueled by the proliferation of shooting ranges, shooting sports programs, and heightened personal security concerns. Prominent organizations like USA Shooting, 4-H Shooting Sports, and Civilian Marksmanship Programs are actively training aspiring individuals, especially the youth, for prestigious global events such as the Olympics, World Shooting Championships, and other international competitions.

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Detailed Table of Content:

• Introduction
  • Research Scope
  • Market Segmentation
  • Research Methodology
  • Definitions and Assumptions
• Executive Summary
• Market Dynamics
  • Market Drivers
  • Market Restraints
  • Market Opportunities
• Key Insights
  • Key Industry Developments – Mergers, Acquisitions and Partnerships
  • Latest technological Advancements
  • Porters Five Forces Analysis
  • Supply Chain Analysis
• Global Guns and Accessories Market Analysis, Insights and Forecast, 2016-2027
  • Key Findings / Summary
  • Market Analysis, Insights and Forecast – By Type
    • Guns
      • Handgun
      • Shotgun
      • Rifles
      • Machine Gun
    • Accessories
      • Barrels
      • Grips
      • Magazines
      • Kits and Parts
      • Optics, Lasers, and Lights
      • Others
  • Market Analysis, Insights and Forecast – By Application
    • Defense
    • Law Enforcement
    • Civil
      • Hunting
      • Sports Shooting
      • Self-Defense
      • Others
  • Market Analysis, Insights and Forecast – By Region
    • North America
    • Europe
    • Asia pacific
    • Rest of the world

TOC Continued…!

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Industry Developments:

April 2020– Canadian government signed a contract of worth USD 6.5 million with Colt Canada to produce 262 C20 rifles, spare parts, and other associated equipment.

Read Related Insights:

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Ammunition Market to Hit USD 29.96 Billion by 2027 | Exhibiting a CAGR of 1.71% by 2020-2027

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