(MENAFN- EIN Presswire) OREGAON, PORTLAND, UNITED STATES, March 17, 2023 /einpresswire.com / -- The global shooting ranges market size was valued at $1,124.0 million in 2021, and is projected to reach $2,456.1 million by 2031, registering a CAGR of 8.3% from 2022 to 2031.
North America dominates the market in terms of revenue, followed by Asia-Pacific, Europe, and LAMEA. U.S. dominated the global shooting ranges market share in 2021 and is expected to grow at a significant rate during the forecast period, due to the implementation of modern technologies in the military, and civil defense training activities by the U.S. government.
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Shooting ranges are regulated environments created for the instruction and testing of weapons, as well as occasionally for archery. It might be virtual, indoor, or both, and it might be on the outskirts of a city or close to a forest. Shooting ranges also feature extras like the firing point, targets, backstop, wind flags, and lights. Shooting ranges are increasingly used as a form of recreation despite typically being built for use by the military and law enforcement. These are secure, eco-friendly locations that can also be utilized to test guns.
Shooting ranges can be indoor or outdoor, may only permit the use of specific firearms, such as pistols or long guns, or they may focus on specific Olympic sports, such as trap/skeet shooting or 10 m air pistol/rifle. Most indoor ranges forbid the use of rifles, fully automatic weapons, or high-powered calibers.
By type, the global shooting ranges market is categorized into indoor shooting range and outdoor shooting range. The indoor shooting range accounted for the highest revenue in 2021, indoor firing ranges are popular among law enforcement and recreational shooters because they offer protection from inclement weather conditions and can be operated around the clock under controlled environmental conditions. However, the segment of the outdoor shooting range is anticipated to witness the highest CAGR of xxx% during the forecast period, due to its increased firing mobility for more tactical freedom, distance, and terrain-based exercises.
On the basis of product type, the global shooting ranges market is segmented into virtual simulators, fixed targets, and moving targets. The fixed target segment accounted for over 38% market share in 2021, owing to gaining popularity as a part of recreational activity in developing countries such as India and Brazil.
COVID-19 Impact Analysis :
The spread of the COVID-19 pandemic has negatively impacted the global shooting ranges market, owing to commute restrictions, and is expected to weaken the financial performance of the market players in 2020. a virtual shooting range is a great way to help military and law enforcement personnel conduct cost-effective training during the COVID-19 pandemic. The indoor shooting range has restrictions due to zoning. Therefore, companies in the market must consult in a post-Covid-19 scenario and provide custom shooting range solutions to military and recreational facility owners while complying with OSHA and EPA regulations. Shooting range owners are entering into partnerships and contracts with reputable accessory suppliers to enhance the public's shooting experience.
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KEY FINDINGS OF THE STUDY :
By type, the outdoor shooting range segment is expected to register significant growth during the forecast period.
By product type, the virtual simulators segment is anticipated to exhibit significant growth in the near future.
By end-user, the military segment is projected to lead the global shooting ranges market owing to a higher CAGR.
By region, LAMEA is anticipated to register the highest CAGR during the forecast period.
The key players analyzed in this shooting ranges market report are Action Target, Inc., Cubic Corporation, Laser Shot, Inc., InVeris Training Solutions, Zen Technologies Ltd., Polytronic International AG, Range Systems, Inc., Saab AB, Theissen Training Systems GmbH, Virtra Training Systems, Inc.
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