PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1454010
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1454010
According to Stratistics MRC, the Global Shooting Ranges Market is accounted for $1.33 billion in 2023 and is expected to reach $2.65 billion by 2030 growing at a CAGR of 10.3% during the forecast period. Shooting ranges are facilities designed for firearm practice and training. Typically equipped with target areas at various distances, they offer a controlled environment for shooters to hone their marksmanship skills. Ranges may vary, including indoor or outdoor setups, catering to different firearms and activities like pistol, rifle, or shotgun shooting. Safety is a paramount concern, with strict regulations enforced to prevent accidents. Many ranges provide rental guns and safety equipment, making them accessible for beginners. Some also offer educational programs, competitions, or membership options.
According to the Stockholm International Peace Research Institute (SIPRI), global military expenditure has reached $2,113 billion in 2021, 0.7% higher than in 2020.
Increasing demand for self-defense training
As more individuals recognize the importance of personal safety, the demand for accessible and professional training facilities has surged. Shooting ranges have adapted by expanding services, offering self-defense courses, and providing a safe environment for skill development. This heightened demand has led to potential market growth, attracting both new and experienced shooters. Additionally, it encourages innovation in training programs, equipment, and technology within the shooting range industry, creating a dynamic market environment to meet the evolving needs of individuals seeking self-defense skills.
Strict regulations and permitting processes
Compliance challenges increase operational costs, hinder timely establishment, and limit geographical expansion. The intricate approval procedures often discourage potential investors and create barriers for new entrants. Additionally, ongoing regulatory scrutiny intensifies the operational burden, impacting the industry's growth potential. These constraints not only raise financial barriers but also contribute to a slower pace of development, potentially limiting the overall market size and accessibility, as operators navigate the complex landscape of legal requirements and permit acquisition.
Growing popularity of recreational shooting
As more individuals engage in shooting sports for leisure and skill development, the shooting ranges market experiences an upswing. This trend propels the need for well-equipped facilities, leading to increased investments, technological advancements, and the establishment of new ranges. The market adapts to accommodate diverse preferences, fostering an environment where enthusiasts can safely and responsibly enjoy recreational shooting activities. The synergy between the rising interest in shooting sports and the expansion of shooting ranges reflects a dynamic and expanding market driven by recreational participation.
Noise and lead pollution associated with shooting ranges
Environmental concerns surrounding these pollutants can lead to heightened community resistance and regulatory scrutiny. Local opposition, driven by health and environmental fears, may impede the establishment or expansion of shooting ranges. Moreover, negative public perception resulting from noise and lead pollution can tarnish the industry's image, reducing public support and participation hampering the growth of the market.
Covid-19 Impact
Initially, lockdowns and restrictions led to temporary closures, impacting revenues and participation. However, as lockdowns eased, there was a surge in interest as people sought outdoor recreational activities. Increased concerns about personal safety also drove demand for firearms and shooting range services. The industry adapted with enhanced safety measures, including social distancing and sanitation protocols. While the pandemic posed initial setbacks, the shooting ranges market demonstrated resilience and adapted to changing dynamics, capitalizing on renewed interest in shooting sports.
The moving targets segment is expected to be the largest during the forecast period
The moving targets segment is estimated to have a lucrative growth, due to the inclusion of moving targets enhances training realism for military and law enforcement agencies, spurring investments in cutting-edge target systems. Additionally, it attracts enthusiasts seeking more challenging and realistic shooting experiences, boosting the demand for interactive and dynamic shooting range solutions. The evolution towards dynamic target scenarios fuels innovation in range technologies, creating opportunities for market growth.
The military segment is expected to have the highest CAGR during the forecast period
The military segment is anticipated to witness the highest CAGR growth during the forecast period, owing to increased defense budgets often lead to advancements in firearms technology, spurring civilian interest in shooting sports. Military training requirements also drive demand for state-of-the-art shooting ranges, impacting the market's growth. Additionally, collaborations between military and civilian entities may enhance the development and utilization of advanced shooting range facilities.
Asia Pacific is projected to hold the largest market share during the forecast period owing to the increasing interest in shooting sports and military training. Rising demand for advanced shooting range equipment, safety measures, and simulation technologies contribute to market expansion. Countries like China, India, and Australia are prominent players in this market, with a focus on modernizing shooting facilities. The market anticipates sustained growth as shooting sports gain traction, necessitating continuous advancements in range technologies and equipment.
North America is projected to have the highest CAGR over the forecast period, owing to increase in the adoption of shooting simulation and training systems by defense agencies, owing to multiple military modernization and enhancement programs underway in North America. In addition, an increase in investment by North American countries propels the development of advanced defense technologies. Moreover, a rise in shooting sports competitions in the region is expected to fare well for the growth of the market in the region during the forecast period.
Key players in the market
Some of the key players in the Shooting Ranges Market include Theissen Training Systems GmbH, Laser Shot, Inc., Action Target, Inc., Virtra Training Systems, Inc., InVeris Training Solutions, Cubic Corporation, Range Systems, Inc., Zen Technologies Ltd, Polytronic International AG, Saab AB, MILO Range, RUAG Group, Marksman Training Systems, Bohemia Interactive Solutions, Meggitt Training Systems Inc., Polytronic International AG, SAAB Training & Simulation and GDI Simulation
In February 2024, VirTra has announced new product launch of low light training is available for both marksmanship training and scenario training. For example, in the new Mass Chaos active threat scenario, you can dim or eliminate light as if the power went out, adding an extra element of uncertainty.
In January 2024, VirTra, Inc. announced new video-based scenarios for its training simulators and unveiled its True-Fire(TM) recoil kit, which is designed to minimize false firing incidents.
In January 2024, InVeris Training Solutions, law enforcement agencies and commercial shooting range owners around the globe, announced the relaunch of its world-famous fats(R) product line with fats(R) VR