Guns and Accessories Market Size Worth USD 11.87 Billion By 2032 | CAGR: 7.5%

Guns and Accessories Market Size Worth $11.87 Billion By 2032 | CAGR: 7.5%

The global guns and accessories market size is expected to reach USD 11.87 billion by 2032, according to a new study by Polaris Market Research. The report “Guns and Accessories Market Share, Size, Trends, Industry Analysis Report, By Type (Air Rifle, Air Pistol, Archery, Ammunition, Auxiliary Equipment, Machine guns, Carbines, and Others); By Distribution Channel; By End-User;  By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The rising adoption of carbon fiber-based hybrid guns due to their various benefits is the major factor bolstering the growth of the market. Carbon fibers are used in the manufacture of guns to reduce weight, increase durability, and permit effective heat dissipation. Without losing strength or durability, carbon fiber is utilized to lighten guns. Depending on the positioning of the carbon fibers within the composite and the direction of the stress, carbon fiber composites are between 2 and 6 times stiffer than steel and aluminum for a given weight.

In addition, a gun barrel with a stiff carbon overwrap will be more rigid overall, which enhances the barrel's harmonics and makes someone's shot more accurate. In addition, carbon is considerably lighter than the steel. Manufacturers of guns can substitute carbon in place of steel steel in the gun barrel, save for the inner core, to achieve a significantly lower weight at the same diameter as a barrel constructed completely of steel.

However, OEMs are concentrating on developing new, long-lasting surface coatings that prolong gun life while preventing rust or corrosion. For instance, in October 2022, IIT-Madras researchers developed a diamond-like carbon coating that should make the gun barrel inside durable and friction-free.

The industry has benefited much from the science of coating surfaces to improve their resistance to wear and tear and, occasionally, to add lubrication. To provide Indian defense capabilities an "atmanirbhar coat," the recently established Advanced Conformal-Coating Technology (AdCoaTech) lab at IIT-Madras is developing new technologies.

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Additionally, in February 2019, the US-based Benelli created a unique coating to shield the gun barrel from corrosive, abrasive, wear-causing, and external substances. The procedure, known as BE S.T. (an acronym for Benelli Surface Treatment), uses a recently enhanced and innovative hybrid technology that is still under development to produce a coating with properties that are comparable to those of a diamond: high hardness, aesthetic pureness, and corrosion resistance. Therefore, the rising adoption of carbon fiber in guns due to its advantages as well as the coatings on guns based on hybrid technology by the public and private players is bolstering the growth of the market over the forecast period.

Guns and Accessories Market Report Highlights

  • The air pistol segment accounted for largest revenue share due to its features. An air pistol is a portable firearm used to fire steel balls, plastic pellets, or BBs as well as other small projectiles.
  • Law enforcement segment is anticipated to grow at a high CAGR over the forecast period. The usage of handguns is expected to increase significantly in the law enforcement sector due to the rise in terrorism as well as other violent activities.
  • Europe is expected to grow rapidly over the projected period. France has the greatest number of hunters. There are also a considerable number of hunters in Spain, the UK, and Italy. Women continue to have a huge influence on hunting in Europe today.
  • The global players include American Outdoor Brands, Beretta Holding, BPS Direct, Buck Knives, Spyderco, Sturm Ruger, Taurus International Manufacturing, Under Armour, Vista Outdoor, & Weihrauch & Weihrauch Sports GmbH.

Polaris Market Research has segmented the Guns and Accessories market report based on type, distribution channel, end-user,  and region:

Guns and Accessories, Type Outlook (Revenue - USD Billion, 2019 - 2032)

  • Air Rifle
  • Air Pistol
  • Archery
  • Ammunition
  • Auxiliary Equipment
  • Machine guns
  • Carbines
  • Others

Guns and Accessories, Distribution Channel Outlook (Revenue - USD Billion, 2019 - 2032)

  • Supermarket/Hypermarket
  • Specialty Stores
  • Online
  • Offline
  • Other

Guns and Accessories, End-user Outlook (Revenue - USD Billion, 2019 - 2032)

  • Law Enforcement
  • Competitive Sports
  • Individual
  • Commercial

Guns and Accessories, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa