AirGun Market Growth.

The airgun market is anticipated to achieve a valuation of US$ 3,897.0 million by 2027, up from US$ 2,045.5 million in 2021, with a projected CAGR of 8.2% during 2018–2027. The global air gun market is currently witnessing a significant number of product launches, driven by the presence of numerous market players and high competitiveness, leading to substantial product advancements. Continuous technological advancements and periodic modifications to industry standards are expected to create growth opportunities. The emphasis on implementing various technologies is identified as a major driving factor, alongside sustained economic prosperity and increased investments in sports events, particularly in emerging economies.

Air gun shooting, popular worldwide, is actively promoted by organizations such as the National Rifle Association in the United States. Over the past decade, air gun shooting has experienced positive growth, with events like the Asian Shooting Championships, ISSF World Cup Rifle/Pistol, Austria Open, and World Championship Juniors Rifle/Pistol/Shotgun contributing to increased participation globally.

The Asia-Pacific (APAC) and Middle East & Africa (MEA) regions are expected to drive growth in the air gun market. The rising demand for air rifles in APAC is attributed to increasing sports events and growing interest in animal hunting. In MEA, countries like the UAE and Africa are witnessing significant demand for air rifles for hunting, with varying regulations on possession. The air gun market is capitalizing on opportunities in these regions due to diverse hunting regulations and the popularity of shooting events.

Air guns, categorized into rifles and pistols, serve multiple purposes, including hunting, firearms training, and recreational use. The affordability of high-power air guns has led to increased adoption for sporting events, such as the Extreme Benchrest competition in the US. The pistols segment, with its affordability, held the largest market share in 2019, but the adoption of air rifles is expected to surge, especially for hunting and long-range target shooting.

Key players in the global air gun market include Airforce Airguns, Velocity Outdoor Inc., Daisy Outdoor Products, Feinwerkbau GmbH, GAMO Outdoor, S.L.U, Morini Competition Arm SA, and Smith & Wesson. These companies focus on expanding market presence, diversifying customer bases, and capitalizing on business opportunities through strategies like acquisitions and partnerships.

For instance, in 2019, Sturm, Ruger & Company, Inc. strengthened its distribution network by adding MGE Wholesale as an independent distributor of Ruger firearms in the US. In 2018, Velocity Outdoor Inc. acquired Ravin Crossbows, LLC for $94 million, positioning itself to capitalize on the crossbow market and diversify its client base.