Air Gun Market Size, Trends and Growth Analysis by 2027

The global air gun market was valued at approximately US$ 2,045.5 million in 2018 and is projected to expand at a compound annual growth rate (CAGR) of 8.2% from 2020 to 2027, ultimately reaching around US$ 3,987.0 million by the end of the forecast period.

In recent years, the air gun market has been experiencing robust growth, with manufacturers witnessing a significant surge in demand from both direct consumers and online retailers. Air guns are classified differently from firearms, which facilitates the establishment of new manufacturing facilities. The market is characterized by a high level of fragmentation, with numerous players operating globally, and the number of manufacturers has been on the rise. This influx of manufacturers is enhancing the global air gun market by providing a wider array of products.

At present, the air gun market is notably fragmented, featuring a multitude of companies with strong regional footholds. However, several key players dominate the market, including Airforce Airguns, Velocity Outdoor Inc., Daisy Outdoor Products, Feinwerkbau GmbH, GAMO Outdoor, S.L.U, Morini Competition Arm SA, and Smith & Wesson. These companies have established a global presence and cater to a diverse customer base. The air gun market is witnessing a considerable number of product launches from leading manufacturers, driven by the competitive landscape and the presence of numerous market participants. The limited opportunities for organic growth have led to significant product innovations and developments. Furthermore, ongoing advancements in technology and periodic updates to industry standards are expected to create additional growth opportunities for air gun manufacturers.

The demand for air rifles is particularly accelerating in the Asia-Pacific (APAC) region, fueled by an increase in sports events and a growing interest in hunting among the populace. APAC is renowned for its diverse hunting opportunities, including a wide range of wild goats and sheep. The region also provides ample chances for hunters to pursue stags, gazelles, bears, roe deer, and more. In countries such as Australia, China, Japan, and various Southeast Asian nations, hunting is permitted. For example, in Australia, hunting regulations are determined by individual state and territory governments, each with its own laws, licensing requirements, and fee structures. In Japan, individuals must be at least 18 years old to obtain a license for using air guns and projectiles, including rifles and shotguns.

Moreover, several significant sporting events are scheduled for 2020, featuring shooting as one of the disciplines. Notable events include the 2nd World Deaf Shooting Championships in June 2020, the 2020 Summer Olympics, the 2020 Summer Paralympics, and various world and continental shooting competitions. The rising interest in hunting and shooting sports in these countries, with the exception of India, is contributing to the growth of the air gun market across the APAC region.

In summary, the global air gun market is on a promising trajectory, with a strong growth forecast driven by increasing demand, a growing number of manufacturers, and a vibrant competitive landscape. The APAC region, in particular, is emerging as a key area for growth, thanks to its rich hunting culture and the upcoming sporting events that are expected to further stimulate interest in air guns.