The Sniper Rifle market industry is projected to grow from Significant Value by 2032, exhibiting a compound annual growth rate (CAGR) of Moderate during the forecast period (2023 - 2032). Increasing terrorist assaults, rising geopolitical tensions across borders, and an increase in defense spending are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Sniper Rifle Market Trends
To improve their military capabilities, many countries around the world are raising their defense spending. A surge in military spending also allows for equipment upgrades while also replacing outmoded weapons systems. Additionally, escalating geopolitical tensions and security threats are driving up the requirement for sniper rifle purchases, which is fueling the growth of the world sniper rifle market. Additionally, several countries are expanding their sniper squadrons and using sniper rifles in a wider variety of military applications in an effort to bolster their military bases. Therefore, it is expected that the sniper rifle industry will grow significantly during the predicted time.
Any nation's military base can be made stronger through the use of technology. Because warfare gear must always be updated, there is a significant need for cutting-edge weapons. Additionally, the upgrading of current military hardware and the acquisition of cutting-edge weaponry are driving increased demand for sniper rifles on the international market. Additionally, the development of self-steering projectiles, bullet loading, and other cutting edge technologies for sniper rifles has increased demand for the market for these weapons worldwide. Additionally, long-range, high-precision guns are employed commercially. Government rules limit the civilian application, but it is still a market niche that could grow.
The military and defense industry have been compelled to broadly embrace modern ammunition, including as sniper rifles, over existing outdated warfare equipment to protect civilians, which is majorly driving the market expansion. These developments are due to the increase in terrorist attacks and geopolitical tensions across international boundaries. In accordance with this, the demand for sniper rifles in the market is also being augmented by rising military spending, the increasing need to fortify military bases, and different government initiatives aimed at modernizing the armed services. The increasing volume of arms exports and imports around the world to maintain a sufficient supply of weapons and ammunition also has an impact. The development of technologically sophisticated sniper rifles with effective bullet loading capacities, autonomous steering capabilities, and enhanced range and precision to obliterate competing targets is also a factor in the market's expansion. In addition, the widespread use of sniper rifles in sporting activities and the ongoing purchase of the product in terms of engagement profile, battlefield topography, and the number of sniper squadrons are positively influencing market growth. Thus, driving the Sniper Rifle market revenue.
Sniper Rifle Market Segment Insights:
Sniper Rifle Range Insights
The Sniper Rifle Market segmentation, based on Range, includes upto 1,000 meters and beyond 1,000 meters. The upto 1,000 meters segment accounted for the largest revenue share in 2022. The rise in terrorist acts and cross-border geopolitical tensions can be attributed for this.
Sniper Rifle Application Insights
The Sniper Rifle Market segmentation, based on application, includes civilian, law enforcement, and military. Military segment dominated the Sniper Rifle Market in 2022. In contemporary warfare, a sniper's main role is to provide thorough surveillance from a covert location and, if required, to weaken the enemy's fighting prowess by taking out high-value targets. The rise in sniper rifle purchases in the military sector can be ascribed to rising defense spending and equipment upgrading projects from various armed forces throughout the world. Countries like India and the United States have been modernizing their military equipment and acquiring a variety of high-tech sniper rifles. For example, the Indian Armed Forces declared in 2022 that they would be receiving 750 Sako TRG-42 sniper rifles from Finland along with around 355,000 rounds of specialized.338 Lapua Magnum ammunition for a cost of USD 7 to 8 million. 212 rifles have been planned to be purchased for the Indian Air Force, and 88 sniper rifles are probably going to be purchased by the Indian Navy, according to the proposal request from the Indian Army. The Barett M82, M40, and Barett MRAD are some of the sniper rifles that were once utilized by the US Army and were regarded as the deadliest snipers. These weapons are still in service today. As a result, during the projected period, sniper rifles for the military are anticipated to gain in popularity.
Figure 1: Sniper Rifle Market, by Application, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Sniper Rifle Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Sniper Rifle Market dominated this market in 2022 (45.80%). During the period of forecasting, military modernization projects and equipment modernization initiatives in the North American region are projected to play a significant role in the expansion of the sniper rifle market there. The US Marine Corps intends to switch to the sophisticated Mk22 Mod 0 from the Barrett business in 2022 to replace its dated M40A6 and Mk13 Mod 7 bolt-action sniper rifles. The Marine Corps Systems Command, Marine Forces Special Operations Command, and US Army Special Operations Command collaborated to choose the Mk22 in the beginning, the manufacturer claims. The Mk22 Mod 0 Advanced Sniper Rifle is a bolt-action precision rifle equipped with a caliber-independent flash and sound suppressor with a 7-35 watt Precision Day Optic. Additionally, the rifle is a multi-caliber platform that employs a 10-round detachable magazine and can be set up to fire.338 Norma Magnum,.300 NM, or 7.62x51mm rounds. Further, the U.S. Sniper Rifle market held the largest market share, and the Canada Sniper Rifle market was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: SNIPER RIFLE MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Sniper Rifle market accounted for the healthy market share in 2022. This is because France and Russia, who hold the second and third-largest shares in the exports of sniper rifles and heavy weapons, respectively, are present. Further, the German Sniper Rifle market held the largest market share, and the U.K Sniper Rifle market was the fastest growing market in the European region
The Asia Pacific Sniper Rifle market is expected to register significant growth from 2023 to 2032. China and India are the main market-movers in the area, supported by the growing demand for modern ammunition among the armed forces. Due to an increase in collaborative agreements with the military organizations of the emerging countries, India is one of the top exporters of weapons and ammunition to several nations worldwide and is anticipated to continue to be a significant supplier during the projection period. Moreover, China’s Sniper Rifle market held the largest market share, and the Indian Sniper Rifle market was the fastest growing market in the Asia-Pacific region.
Sniper Rifle Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Sniper Rifle market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Sniper Rifle industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Sniper Rifle industry to benefit clients and increase the market sector. In recent years, the Sniper Rifle industry has offered some of the most significant advantages to medicine. Major players in the Sniper Rifle market, including S&T Motiv Co. Ltd, Savage Arms, FN HERSTAL, Remington Arms Company LLC, Knights Armament Co., Accuracy International, STRATEGIC ARMORY CORPS., Zastava arms, B&T AG, Denel SOC Ltd, PGM Precision, Beretta Holding SA, and H&K AG, are attempting to increase market demand by investing in research and development Ranges.
Manufacturer of ammunition goods for shooters and hunters is Remington Arms Company LLC. The company provides its customers with products including pistols, shotguns, rifles, ammunition, and other accessories.
SNT Motiv is a Korean business that creates and manufactures defensive items and essential automotive components. In addition to chassis components like suspension modules, shock absorbers, and steering knuckles, the company also sells electrical products like remote keyless entry (RKE) systems, immobilizers, and driver seat control systems, as well as defense-related items like rifles and machine guns.
Key Companies in the Sniper Rifle market include
Sniper Rifle Industry Developments
March 2021: Barrett revealed that they have been given a five-year contract to provide the US Army with about 2,800 sniper rifles. Additionally, in order to address security concerns, the New York City Department of Correction will invest USD 100,000 in the procurement of 10 sniper rifles for Rikers Island in 2022. Therefore, throughout the forecast period, the North American sniper rifle market is anticipated to rise as a result of developments like those described above.
April 2023: New 8.6 mm sniper rifles will be provided to the Estonian Defense Forces and Defense League under a seven-year, USD 44.26 million deal signed by the Estonian Centre for Defence Investments (ECDI) and Sako Ltd. The new weapons perform better than older sniper rifles in terms of accuracy and firing characteristics stability.
Sniper Rifle Market Segmentation
Sniper Rifle Range Outlook
Sniper Rifle Application Outlook
Sniper Rifle Regional Outlook
| Report Attribute/Metric | Details |
| Market Size 2022 | Significant Value |
| Market Size 2023 | Significant Value |
| Market Size 2032 | Significant Value |
| Compound Annual Growth Rate (CAGR) | Moderate (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Range, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | S&T Motiv Co. Ltd, Savage Arms, FN HERSTAL, Remington Arms Company LLC, Knights Armament Co., Accuracy International, STRATEGIC ARMORY CORPS., Zastava arms, B&T AG, Denel SOC Ltd, PGM Precision, Beretta Holding SA, and H&K AG |
| Key Market Opportunities | ·      Technological advancements |
| Key Market Dynamics | ·      Increase in the defense budget to boost the demand and the increasing terrorist attacks and geopolitical tensions across borders |
Frequently Asked Questions (FAQ) :
The Sniper Rifle Market size was valued at Significant Value in 2022.
The global market is projected to grow at a CAGR of Moderate during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are S&T Motiv Co. Ltd, Savage Arms, FN HERSTAL, Remington Arms Company LLC, Knights Armament Co., Accuracy International, STRATEGIC ARMORY CORPS., Zastava arms, B&T AG, Denel SOC Ltd, PGM Precision, Beretta Holding SA, and H&K AG
The upto 1,000 meters range dominated the market in 2022.
The military application had the largest share in the global market.
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