US: 1.646.568.9797 (24x5)
UK: 44.330.808.0580 (24x5)
Worldwide: 91.703.051.960 (24x7)
Industry Insights, Market Size, CAGR, High-Level Analysis: Airsoft Guns Market The global airsoft guns market size was valued at USD 1.5 billion in 2018. Growing millennials’ interest in adventurous sports as a key tool for reducing stress from hectic work is expected to remain a key factor for the industry growth. Additionally, increasing importance of leisure activities including target shooting or shooting sports as a result of their increased inclusion in various places including family entertainment centers is projected to promote the scope for airsoft guns over the next few years. Over the past few years, increasing number of shooting organizations in developed countries including U.S., U.K., Germany, France, and Italy has played a crucial role in promoting the use of airsoft guns. It has been observed that these organizations are conducting several airsoft gun events to attract the people to be a part of their team. Growing fondness for real shooting simulation sports is attracting a wide range of baby boomers and generation X population to actively participate in this sports activity. Companies are also using this opportunity to increase their revenue. For instance, U.K. based company, “Just BB Guns” Ltd. provide online information about the local airsoft and BB gun events across Europe. Another U.K. based company, “Ace Group” also conducts adventurous airsoft gun fights every month. Rising consumer demand for airsoft sports activities is driving various associations to conduct airsoft leagues across the globe. For instance, the International Practical Shooting Confederation (IPSC) conducts worldwide competition for airsoft shooting. Every year, participants from more than 105 countries actively participate in this competition. They have around 200K members across the world who are into creating awareness about this event, thereby driving the market for airsoft guns. Many schools and colleges in North America and Europe have adopted this sports activity and made their teams to participate in inter school activities. Increasing number of eye injuries through the airsoft guns is expected to raise the safety concerns among the consumers. Airsoft pellets can strike the eye, which can result in painful pooling of blood inside the eye, lens dislocation, and scratches. However, increasing importance of advanced safety eyewear at the global level is expected to overcome the safety concerns. Product Insights of Airsoft Guns Market Handgun accounted for the largest share of 41.7% in 2018. The consumers prefer to purchase this product due to its lightweight features and ability to fire from one hand. Magazines are not necessary for this product, which makes it easier to use among the beginners. Furthermore, demand for this airsoft gun is high among kids due to its lightweight features. Rifle is expected to be the fastest growing segment with a CAGR of 7.9% from 2019 to 2025. It is a convenient powerful product, which attracts the adventure sports enthusiasts. This airsoft gun has longer range and improved accuracy for targeting. Therefore, majority of the game experts advise the players to use these rifles as they help in providing improved overall shooting accuracy. Distribution Channel Insights Offline channel generated a revenue of USD 1.3 billion in 2018. Consumers prefer to purchase from these offline stores as they provide physical verification of the products. For instance, buyers can go for a trial prior to purchase the airsoft guns. Growing popularity of leisure activities in developed economies of North America and Europe has played a key role in increasing the penetration of specialty stores. The online segment is the fastest growing distribution channel, with a CAGR of 8.2% from 2019 to 2025. Promotional offers provided to the buyers is a major factor contributing to the segment growth. It has been observed that key manufacturers provide discounts, member benefits, and cashback facility in their online portals. The airsoft guns market seems to drive its accessibility majorly among the young population who prefer ongoing trends. Airsoft shooting sports culture is developing among the millennials of developing countries including China, India, Brazil, and Mexico, where smartphone adoption rate is also high. Furthermore, increasing number of social media campaigns regarding the thrill of these sports events will increase the demand for airsoft guns through online channel over the next few years. Regional Insights of Airsoft Guns Market North America was the largest market with a revenue of USD 601.1 million in 2018. Majority of the population across the country prefer to spend their leisure time in adventurous sports activities including target shooting and hunting. Airsoft gun is the best alternative of air guns while practicing. People prefer to use airsoft guns to avoid fatal incidents at the time of shooting practice. Key manufacturers are arranging different sports events to increase their customer reach. By understanding the market demand, few companies are providing fields and airsoft guns on rent, where anyone can enjoy the adventure activity. For instance, U.S. based company, AirsoftC3, LLC is one of the key hosts of indoor and outdoor airsoft games that provides field, airsoft guns, bb guns, and protective gear on rent. Middle East and Africa is the fastest growing market with a CAGR of 8.2% from 2019 to 2025. Changing consumer behavior towards adventure sports activity, coupled with growing disposable income, especially among the youth working population, in countries including Saudi Arabia and UAE, is expected to boost the market growth in the region. Average number of airsoft events is increasing at a faster pace in South Africa, Saudi Arabia, and UAE. Market Share Insights of Airsoft Guns Market The market is competitive in nature with the presence of many private level brands. Some of the major companies operating in this market are VALKEN SPORTS; Colt's Manufacturing Company; ICS Airsoft, Inc.; Crosman Corporation; Lancer Tactical; Kriss USA; G&G ARMAMENT TAIWAN LTD; Ballistic Breakthru Gunnery Corporation; A&K Airsoft; and Tokyo Marui. High concentration of recreational users in North America and Europe is expected to play a crucial role in keeping the strategic business units in vicinity over the next few tears. Additionally, the industry participants are expected to launch the products through cross-border e-commerce platforms in order to cater to the growing demand from millennials in developing economies of Asia Pacific and Middle East. Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Airsoft Guns Market Research Report This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global airsoft guns market report on the basis of product, distribution channel, and region: Product Outlook (Revenue, USD Million, 2019 - 2030) Handgun Rifle Shotgun Muzzle Loading Distribution Channel Outlook (Revenue, USD Million, 2019 - 2030) Online Offline
Table of Contents Chapter 1. Methodology and Scope 1.1. Market Segmentation & Scope 1.2. Market Definition 1.3. Information Procurement 1.3.1. Purchased Database 1.3.2. GVR’s Internal Database 1.3.3. Secondary Sources & Third-Party Perspectives 1.3.4. Primary Research 1.4. Information Analysis 1.4.1. Data Analysis Models 1.5. Market Formulation & Data Visualization 1. | read more...