Riflescopes Market: By Technology (Thermal Imaging, Laser, and Electro-Optic/IR), By Sight Type (Telescopic and Reflex), By Range (Long, Medium, and Short), By Application (Armed Forces, Hunting and Shooting Sports), and Geography  

Riflescopes Market size was valued at USD 5,372.5 million in 2022 and is expanded to grow at a significant CAGR of 4.5% from 2023-2029. The growing demand for hunting and shooting activities, as well as technological developments in precision attacks, are likely to propel the riflescopes sector forward. However, the market has a barrier in the form of high riflescope costs. Military modernization contracts provide numerous potentials for manufacturers to earn significant market share. The army's demand for exact strikes is projected to drive the riflescope market forward. Over the last decade, military optical technology has advanced, particularly in telescopic sights. Telescopic sights have allowed militaries to fire precise shots over longer distances than they could with regular infantry weapons. Factors such as rising demand for firearms for shooting sports and hunting and rising shooting ranges worldwide will boost the riflescopes market growth during the forecast period. Various new capabilities are being added to riflescopes to make it easier to aim and shoot. The telescopic segment is anticipated to grow at the fastest CAGR from 2022 to 2028, based on sight type. Telescopic sights are optical telescopes that are equipped with several types of graphic image pattern reticles to provide an exact aiming point. Because of the existing and growing demand for hunting applications, telescopic riflescopes are likely to have a larger market share than reflex riflescopes.

Riflescopes Market Key Developments:

• In October 2021, ZEISS Introduces a New Generation of the V8 Riflescope Family With four new V8 models ZEISS helps hunters to achieve success. In November 2021, the World's First Riflescope NFT was Developed Through the Digital Arms & ZeroTech International Licensing Partnership.