Industry Background:
Sniper rifle is specially manufactured for snipers who are highly trained soldiers specialized in shooting targets, they use modified rifles from greater distances to shoot at their targets used widely in military operations, safety & surveillance applications. This type of rifle ensures the precision and accurate placement of bullets at longer ranges than the regular smaller arms. Sniper rifles are built with the optimal level of accuracy, fitted with a telescopic sight and centerfire cartridge. They are available in two different types bolt-action and semi-automatic action sniper rifles.This growth is primarily driven by Growing Number of Geo-political Issues
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Aerospace & Defense sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as Accuracy International (United Kingdom), Barrett Firearms Manufacturing (United States), Heckler & Koch GmbH (Germany), Remington Arms Company, LLC (United States), Savage Arms (United States), Knight's Armament Company (United States), McMillan Firearms (United States), Denel Land Systems (South Africa), SIG Sauer (United States), Truvelo Armoury (South Africa), STEYR ARMS (Austria), S&T Motiv (South Korea) and Zastava Arms (Serbia), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 12th January 2022, The Finnish Defence Forces Logistics Command and Sako Ltd signed a contract for the procurement of the new Rifle System M23 on 12 January 2022. The procurement was preceded by collaboration on the development of the rifle system between Sako Ltd and the Finnish Defence Forces in 2020-2021 in accordance with the letter of intent between the Finnish Defence Forces and Sako Ltd.
On 28th April 2021, Barrett Firearms Manufacturing Inc. is pleased to announce that it has been awarded a five-year USD 49.9 million contract under the United States Army Precision Sniper Rifle program with its MRAD (Multi-Role Adaptive Design) MK22 MOD 0 rifle, paired with a Leupold & Stevens Mark 5 HD scope and sniper-accessory kit. The MK22 will replace several currents fielded Army sniper rifles.Sniper Rifle market companies operating in these industries are focusing more on efficient growth, improvement of operational efficiency and productivity, achieving high safety standards, and focusing on maintaining sustainable development. The market is highly competitive with a few players occupying the major share. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launches, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Regulatory Insights:
"In these Regulations, “semi-automatic”, in respect of a firearm, means a firearm that is equipped with a mechanism that, following the discharge of a cartridge, automatically operates to complete any part of the reloading cycle necessary to prepare for the discharge of the next cartridge. The firearm of the design is commonly known as the Gepard long-range sniper rifle, and any variant or modified version of it."
Influencing Trend:
The Advent of Specialized Military Sniper Rifles for Greater Range In Special Operations
Market Growth Drivers:
Growing Number of Geo-political Issues and Need for the Firearms and Weapons for Law Enforcement and National Safety
Challenges:
Competition in the Sniper Rifle Market is High
Restraints:
Stringent Regulatory Permissions and Guidelines Imposed in Production and Distribution of Sniper Rifle
Opportunities:
Surging Investment and Spending of Government in Military & Defense Industry Resulting in Boost in Production and Advancement in Sniper Rifle
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Sniper Rifle Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Sniper Rifle Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Sniper Rifle players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Sniper Rifle Study Sheds Light on
The Sniper Rifle Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Sniper Rifle industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Sniper Rifle industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.