Europe and Middle East Shooting Ranges Market to Reach $745.2 Million, by 2032 at 9.7% CAGR: Allied Market Research
The growth of the Europe and Middle East shooting ranges is driven by factors such as rise in territorial conflicts in Europe and the Middle East, increase in defense expenditure, and surge in demand for guns for competitive sports.
Wilmington, Delaware, Nov. 07, 2023 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, “Europe and Middle East Shooting Ranges Market By Type (Indoor Shooting Ranges and Outdoor Shooting Ranges), Product Type (Fixed Targets, Moving Targets, and Virtual Simulators), and End-User (Military and Civil): Regional Opportunity Analysis and Industry Forecast, 2023–2032”.
According to the report, the Europe and Middle East shooting ranges industry size generated $304.0 million in 2022 and is anticipated to generate $745.2 million by 2032, witnessing a CAGR of 9.7% from 2023 to 2032.
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Prime determinants of growth
The growth of the Europe and Middle East shooting ranges market is driven by factors such as rise in territorial conflicts in Europe and the Middle East, increase in defense expenditure, and surge in demand for guns for competitive sports. However, high costs associated with simulation and training services and products, and increase in environmental issues hamper the growth of the market. On the contrary, increase in contracts and agreements with military forces and increase in defense modernization are expected to offer remunerative opportunities for the expansion of the Europe and Middle East shooting ranges market during the forecast period.
Impact of Russia-Ukraine War Scenario on Shooting Ranges Industry in Europe and Middle East Region:
- The Russia-Ukraine War has had a significant impact on the Europe and Middle East shooting ranges market. The war in Ukraine has led to a surge in interest in firearms training and shooting lessons in Poland and other European countries. Many people, who had never used firearms before, have been enrolling in shooting courses to acquire self-defense skills in response to the conflict. This rise in demand for shooting lessons is attributed to concerns that the war’s impact might extend beyond Ukraine’s borders. Notably, both civilian shooting ranges and the Territorial Defence Forces, Poland’s volunteer militia, have experienced a significant increase in interest and enrollment. This phenomenon reflects how geopolitical events can influence interest in self-defense training and firearm use in different regions.
- Additionally, state-owned companies have initiated self-defense training programs for their employees. Several countries have seen a substantial increase in interest from potential recruits following the conflict in Ukraine, with an expansion plan to increase its personnel.
Report Coverage & Details:
|Market Size in 2022||$304.0 million|
|Market Size in 2032||$745.2 million|
|No. of Pages in Report||186|
|Segments Covered||Type, Product Type, End-user, and Region.|
|Drivers|| Rise in territorial conflicts in Europe and the Middle East
Increase in defense expenditure
Surge in demand for guns for competitive sports
|Opportunities|| Increase in contracts and agreements with military forces
Increase in defense modernization
|Restraints|| High costs associated with simulation and training services and products
Increase in environmental issues
The indoor shooting range segment to maintain its leadership status throughout the forecast period.
Based on type, the indoor shooting range segment held the highest market share in 2022, accounting for more than half of the Europe and Middle East shooting ranges market revenue, and is estimated to maintain its leadership status throughout the forecast period, as indoor shooting ranges can be built or located in high-traffic areas as it is inside the building due to which the shooters and members do not get disturbed by outside noise and can give full concentration to shooting. Moreover, the outdoor shooting range segment is projected to manifest the highest CAGR of 10.2% from 2023 to 2032, owing to their advantages such as increased firing mobility for more tactical freedom, distance, and terrain-based exercises.
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Leading Market Players: –
- Action Target, Inc.
- Cubic Corporation
- InVeris Training Solutions
- Polytronic International AG
- Saab AB
- Theissen Training Systems GmbH
- EDGE Group PJSC
- Faris Group
- INTARSO GmbH
- ELI OÜ
The report provides a detailed analysis of these key players of the Europe and Middle East shooting ranges market. These players have adopted various strategies such acquisition, contract, product launch, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.
The fixed targets segment to maintain its leadership status throughout the forecast period.
Based on the product type, the fixed targets segment held the highest market share in 2022, accounting for more than two-fifth of the Europe and Middle East shooting ranges market revenue, and is estimated to maintain its leadership status throughout the forecast period as there is an increase in recreational clubs in developed and developing regions propels the demand for the shooting ranges. However, the virtual simulators segment is projected to manifest the highest CAGR of 11.0% from 2023 to 2032, owing to militaries and civil forces inclining toward cost-effective virtual training solutions for effective troop deployment and reducing the logistical requirements along with cost-effectiveness of operations.
The military segment to maintain its lead position during the forecast period
Based on end-user, the military segment accounted for the largest share in 2022, accounting for more than three-fourth of the Europe and Middle East shooting ranges market revenue, and is estimated to maintain its leadership status throughout the forecast period as there is increase in use of shooting ranges for small arms marksmanship instruction and live-fire exercises by military. Moreover, the segment is projected to manifest the highest CAGR of 9.9% from 2023 to 2032, owing to military and law enforcement agencies may use shooting ranges for firearms qualification, pattern recognition testing, and rapid deployment drills.
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Europe to maintain its dominance by 2032
Based on region, Europe held the highest market share in terms of revenue in 2022, and is likely to dominate the market during the forecast period, as there is increase in the adoption of modern and advanced technologies by military to support critical mission operations. However, the Middle East region is expected to witness the fastest CAGR of 11.5% from 2023 to 2032, owing to an increase in investment toward the advancement of military and law enforcement shooting training technology in the region.
Similar Reports We Have on Military Industry:
Shooting and Gun Accessories Market Research Report 2023-2032
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