HOME Research Insight New Product Development was the key Strategy Adopted by the industry players to grow in the Riflescope Market



New Product Development was the key Strategy Adopted by the industry players to grow in the Riflescope Market


The riflescope market is estimated to grow from USD 5.36 Billion in 2016 to USD 6.87 Billion in 2022, at a CAGR of 4.24% during the forecast period. The riflescope market is a diversified and a competitive market with a large number of players. The key players in the riflescope market have been identified through the annual market revenue generated by these companies from various business segments, and from the delivery of riflescopes and their maintenance related services. Europe and North America regions are the leading markets for riflescopes.

New product development was the key strategy adopted by the industry players to grow in the riflescope market. This strategy accounted for a share of 82% of the total growth strategies that were adopted by the players in the riflescope market between 2011 and 2016. Contracts and acquisitions accounted for a share of 18% of the total growth strategies that were adopted by the players in the riflescope market between 2011 and 2016. Market players mainly focus on launching new technologies and acquiring new businesses. Their core competencies include widespread geographical presence.

Bushnell Optics (U.S.) and Leupold & Stevens (U.S.) are the leading players in the riflescope market. Both companies manufacture hunting and tactical riflescopes. Bushnell Optics (U.S.) recently launched the Trophy Xtreme Optics lines and New Trophy; these two products of riflescopes come in seven configurations and six reticle options for edge-to-edge clarity and best in class 91% light transmission. Burris Optics (U.S.) introduced its AR riflescope, which is the new line of tactical optics that give shooters a custom optic to match their rifle. Schmidt & Bender PM II Ultra Bright, which is the brightest low light tactical scopes for designated marksmen and snipers with an overall light transmission of more than 96%.

Related Reports:

Riflescope Market by Sight Type (Telescopic Sight, Reflex Sight), Technology (Electro Optic, Thermal Imaging/ Infrared, Laser ), Application (Hunting, Armed Forces, Shooting Sports), and Region - Global Forecast to 2022

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