The air gun market size is projected to reach US$ 4.65 billion by 2031 from US$ 2.41 billion in 2023. The market is expected to register a CAGR of 8.5% during 2023–2031. Reduction in prices of air gun in developing countries is expected to drive the market is likely to remain a key trend in the market.
Air Gun Market Analysis
Air gun are used as instruments for hunting and firearms training, as well as toys in funfairs. An air gun is a device that releases a projectile pneumatically with the help of compressed air that is mechanically pressurized without any chemical reactions. Air gun is characterized in two types—rifles and pistols. These product types are also used in shooting events for 10 m air rifle and 10 m air pistol events. The increasing affordability of a high-power air gun has enabled large projectiles and longer target distance for the purpose of the competition. The demand for air rifles and air pistols is expected to rise with the increase in its adoption among individuals in the coming days as number of sporting events including shooting events are increasing. For instance, in Arizona, US, in the Extreme Benchrest competition, air gun with calibers up to 0.35 inches are used for targets placed at a distance of 75 and 100 yards, while the big-bore bench rest arm types of air gun in the same competition are used for targets placed at a distance ranging from 35 to 200 yards.
Air Gun Market Overview
The air gun manufacturers offer air rifle, air pistols, and accessories for hunting and shooting. The demand for air gun is majorly driven by new orders for air gun for various shooting events. In North America, the US is the market leader in the air gun market. In Europe, France, Germany, and the UK are the competitive countries catering to the major import markets such as Spain, the UK, and Ireland. In APAC, China, India, and Singapore are the notable countries with high growth rate in the air gun industry in terms of increasing shooting events and growing usage for pest control. Crosman Corporation, Air force Airguns, Feinwerkbau GmbH, GAMO Outdoor, S.L.U are among the major air gun providers operating globally.
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Air Gun Market: Strategic Insights
Market Size Value in US$ 2,135.8 Million in 2019 Market Size Value by US$ 3,897.0 Million by 2027 Growth rate CAGR of 8.2% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Air Gun Market: Strategic Insights
| Market Size Value in | US$ 2,135.8 Million in 2019 |
| Market Size Value by | US$ 3,897.0 Million by 2027 |
| Growth rate | CAGR of 8.2% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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Air Gun Market Drivers and Opportunities
Increasing Number of Air Gun Manufacturers and Online Distributors Across the Globe
The air gun industry is accelerating a decent pace, and over the past half-decade, the manufacturers are experiencing substantial demand for their products from direct customers as well as online distributors. The air gun is not considered as firearms, and owing to this, the establishing of newer manufacturing plants is easier. The global air gun market is fragmented with significant number of players operating across the globe, and over the years, the number of manufacturers is increasing. The increase in manufacturers is boosting the global air gun market by offering an increased number of products. The US and Europe have maximum congestion in terms of air gun manufacturers; however, the APAC region is also observing growth in the number of manufacturers in the current scenario. Some of the prominent manufacturers of air gun worldwide include Air force Airguns, Velocity Outdoor (Crossman Corporation), Smith & Wesson, and GAMO Outdoor SLU, among others. On the other hand, online distributors are also facilitating the air gun market to escalate over the years. The online distributors facilitate several customers to obtain their air rifles or air pistols where the manufacturer base is less. In addition, online distributors also offer their listed products at a discounted price, which attracts the customers, thereby catalyzing the market size. Few of the leading online distributors of air gun include Airguns Europe, Pyramyd Air, and Airgun Depot, among others. The online distributorship trend is also intensifying in the developing countries which are helping the customers in these countries to purchase their guns, thereby, bolstering the growth of the air gun market.
Escalating Demand of Air Rifles in Asia Pacific and Middle East & Africa Regions
The demand for air rifles is growing at a faster pace in APAC due to the increasing number of sports events as well as the mounting interest of citizens in animal hunting. APAC is a paradise for the mountain predator for hunting a huge variety of wild goats and sheep. The region also offers immense scope for hunters to hunt stags, gazelles, bears, roe deer, etc. In Australia, China, Japan, and Southeast Asian countries, among others, hunting is legal. For instance, in Australia, the hunting is regulated independently by each territory and state government, which govern through different laws, license requirement, and fee and fine structures. In Japan, the hunter should be 18 years and more for getting a license for using air gun and projectiles (rifles and shotguns). Moreover, there are several upcoming sports event in pipeline in 2024 and 2025, which has shooting as one the sports in the region which is further likely to generate new opportunities for market vendors the respective regions. The growing demand for air rifles across these countries with the increasing interest in hunting games as well as for sports events is boosting the air gun market across APAC countries except India.
Air Gun Market Report Segmentation Analysis
Key segments that contributed to the derivation of the air gun market analysis are product type, ammunition, and accessories.
- Based on product type, the air gun market is segmented into rifle and pistol. The pistol segment held a larger market share in 2023.
- Based on ammunition, the air gun market is segmented into airgun pellets, airgun BBs, big bore pellets, hunting pellets, cleaning pellets, and others. The airgun pellets segment held a larger market share in 2023.
- Based on accessories, the air gun market is segmented into scopes, sights, mounts, binoculars, compressors, and others. The sights segment held a larger market share in 2023.
Air Gun Market Share Analysis by Geography
The geographic scope of the air gun market report is mainly divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America.
North America has dominated the market in 2023 followed by Europe and Asia Pacific regions. Further, Asia Pacific is likely to witness highest CAGR in the coming years. North America consists highly developed economies such as the US and Canada. As the awareness regarding various gun shooting sports is high among the citizens of North America, large number of people are participating in various airgun shooting sports, including bullseye shooting, field shooting, rapid fire, practical shooting, clay target, benchrest, muzzleloading, plinking, and others. The US accounted for the largest market share in North America air gun market in 2023. The laws concerning airguns in Canada states that it is legal to purchase air gun in the country after the age of 18 years. Also, if the velocity of the airgun’s projectile travels at the muzzle velocity of more than 500 feet per second or if it carries muzzle energy up to 5.7 joules, it is considered as a fire arm and is supposed to be registered under law. Additionally, the guns with muzzle velocity below 366 feet per second and designed same as the real firearm, they are prohibited in the country.
Air Gun Market Report Scope
Air Gun Market News and Recent Developments
The air gun market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the air gun market are listed below:
- Compass Diversified (NYSE: CODI) (“CODI” or the “Company”), an owner of leading middle market businesses, is announcing the simultaneous entry into a definitive agreement (the “Agreement”) and completion of its sale of Crosman Corporation (“Crosman”), the air gun division of its Velocity Outdoor, Inc. subsidiary, to Daisy Manufacturing Company (“Daisy”). (Source: Compass Diversified, Press Release, Apr 2024)
- Air Venturi, the leading manufacturer and importer of airgun, airsoft, and ammunition brands, has just announced the Dragonfly Mk2 as an exciting addition to their lineup of sporting air rifles. (Source: Air Venturi, Press Release, Jan 2022)
Air Gun Market Report Coverage and Deliverables
The “Air Gun Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Air gun market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Air gun market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed porter’s five forces analysis
- Air gun market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the air gun market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product ; Ammunition Type ; Accessories
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
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
The air gun market is likely to register of 8.5% during 2023-2031.
The estimated value of the air gun market by 2031 would be around US$ 4.65 billion.
Reduction in prices of air gun in developing countries is one of the major trends of the market.
Feinwerkbau GmbH, Carl Walther GmbH, Morini Competition Arm SA, Daisy Outdoor Products Inc, Smith & Wesson, Airforce Airguns, Velocity Outdoor Inc, Sport Manufacturing Group Inc, STURM RUGER & COMPANY INC, GAMO OUTDOOR SLU, are some of the key players profiled under the report.
Growing number of sporting events and increasing number of air gun manufacturers and online distributors across the globe are some of the factors driving the growth for air gun market.
North America region dominated the air gun market in 2023.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- 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.
- 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:
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.
- 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.
- 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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