Shooting Ranges Market Emerging Trends And Will Generate 2020-2030
Transparency Market Research delivers key insights on the global shooting ranges market. In terms of revenue, the global shooting ranges market is estimated to expand at a CAGR of ~7% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in the global shooting ranges market report.
In this market report, TMR predicts the increasing investment in shooting ranges across the globe to have a noteworthy impact on the overall shooting ranges market. Major defense forces are investing huge amounts to technologically enhance indoor and outdoor live fire training stations or shooting ranges to increase shooting efficiency of soldiers. This factor is also bolstering the growth of the shooting ranges market.
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A shooting range is a premise, facility, or field designed specifically for shooter training, practice, or competitions. These are mostly operated by commercial spaces and military or law enforcement agencies in the form of outdoor and indoor spaces.
Key manufacturers of shooting ranges continuously focus on investment in research & development to introduce innovative solutions. Prominent players of shooting ranges are continuously engaging with their clients through customized solutions and after sales services. Likewise, the introduction of cost effective innovative solutions and advanced technology has forced manufacturers to focus on research and development to provide innovative products to the users. Additionally, the promotion of laser-based targets or virtual simulators in shooting range premises is projected to encourage the growth of the shooting ranges market in the upcoming years.
The replacement of old ranges by technologically advanced shooting ranges for training of professionals, such as law enforcement, military, and security personnel, and other gun owners is likely to promote the shooting ranges market during the forecast period. In addition, end users having to meet government standards to maintain a safe environment in commercial and professional shooting range premises is encouraging owners to invest in innovative solutions, such as modular ranges, advanced components, and integrated solutions. This is also likely to drive the shooting ranges market in the near future.
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In terms of type, the shooting ranges market has been segmented into indoor shooting ranges and outdoor shooting ranges. The indoor shooting ranges segment has been bifurcated into virtual simulators and targets. In recent years, the targets sub-segment is highly preferred by end users in shooting ranges for better shooting practice, which is likely to drive the market. Outdoor shooting ranges include moving targets and fixed targets.
Based on application, the shooting ranges market has been categorized into military and recreational. The rising preference for commercial shooting ranges by users for recreational activities, along with continuous investment in smart shooting solutions by defense forces for training of security personnel is fueling the growth of the shooting ranges market.
Shooting Ranges Market: Prominent Regions
North America led the shooting ranges market in 2020, and the region is expected to retain its dominance during the forecast period. The rising preference for indoor and outdoor shooting ranges in developed countries, such as the U.S. and Canada is propelling the shooting ranges market. Apart from North America, Asia Pacific also significantly contributes to the growth of the global shooting ranges market. China, Japan, and India are considered major markets for shooting ranges in Asia Pacific. In addition, increasing participation of end users in shooting games, along with the presence of massive defense forces in the region is likely to create more demand for shooting ranges in Asia Pacific.
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Shooting Ranges Market: Key Players
The competition landscape of the shooting ranges market is moderately fragmented with leading players accounting for majority of the revenue share. Key players operating in the global shooting ranges market include Action Target Inc., Laser Shot, Inc., InVeris Training Solution, Saab Training and Simulation, and Cubic Corporation.
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