Telescopic sights today are precision instruments with a plethora of innovative features. At its most basic level, however, a scope serves only one purpose, to assist the shooter to aim accurately at short or longer distances, even with reduced light conditions and engage the target from the first round.
The war in Ukraine and the overall shift towards high-intensity operations highlighted the importance of dismounted troops and the need to equip them with systems that will help them succeed in their mission. Riflescopes and sensors in overall, optimise their capabilities and can make the difference in the battlefield. This is the direction towards which the market will continue to evolve. Riflescopes, reflex sights, thermals, enhanced with laser rangefinder and magnifiers, or even with a fire control unit, turning a rifle into a weapon system.
As the riflescope market covers both the commercial and the defence sector, the opportunities offered are extensive, accommodating a large number of manufacturers, even medium-sized companies, thereby constituting this market one of the most competitive ones. Moreover, the duality of its nature provides an opportunity for either side to expand into adjacent markets. It can be easily understood why a company manufacturing lenses or cameras for photographers or scientific/medical optical devices can either become a supplier of components or even a manufacturer of riflescopes, and vice versa.
Thermal scopes are becoming a trend in the defence and commercial domains. The technological developments in those sensors have made them available at affordable prices, even for the outdoor enthusiasts, contrary to what was happening in the past, when they were available to military and public security organizations. Moreover, regulations pertaining the sale and export of critical technologies have changed, further supporting the growth of the market.All these characteristics create a highly competitive environment on the one hand, but with extensive opportunities. For stakeholders interested in starting a business in the field, it can be a challenge but not as challenging as in case of a product of high added value.
Thanks to all these developments, the riflescope market is expected to reach an aggregate value of US$70.452 billion throughout the 2024-2032 period, growing with a CAGR of 4.8%.
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Report Code: | MF242412 |
Published: | December 2, 2024 |
Pages: | 210 (A4) |