Airsoft Guns Market, Segments, Capacity, Scope, Revenue, Key-Players, and Foreca
Posted by Deeksha on October 3rd, 2019
Airsoft Guns Market in Numbers
Global sales of airsoft guns are estimated to ~US$ 1,846 Mn in 2019, in line with growing interest of millennials in adventurous sports and the tendency to spend more time on leisure activities, such as target shooting or shooting sport.
The airsoft guns market is envisaged to register ~7% CAGR through 2029 owing to the growing use of airsoft guns as training weapons in the army.
North America will continue to be the leading market for airsoft guns, with gains primarily underpinned by the increasing number of airsoft fields uplifting the popularity of airsoft sports in the region.
Middle East & Africa is likely to remain the high-growth market for airsoft guns manufacturers and repair & service providers. The market in MEA is estimated to witness a robust CAGR of ~9% during 2019 – 2029.
Development of hybrid airsoft guns is rapidly gaining prominence, as manufacturers of airsoft guns are taking a customer-centric approach and thus emphasizing custom-manufacturing capabilities.
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Airsoft Guns Market – Competitive Landscape
The airsoft guns market is a fairly competitive landscape, wherein the leading players, including Tokyo Marui, Colt's Manufacturing Company, and Cybergun, capture 30-35% shares in revenues. Although the global competition landscape of the airsoft guns market remains slightly consolidated at the brim, it also continues to appear highly splintered at the brink, owing to the active presence of a large number of unorganized players. In the backdrop of growing focus on vertical integration and shifting emphasis on the development of innovative and attractive products, the airsoft guns market forerunners are facing the pricing pressure. Intensified focus of regionally leading manufacturers on developing airsoft fields and parks to appeal to a wider pool of leisure sports enthusiasts, is likely to create an influx of opportunities in the airsoft guns market.
Unique strategies hold a competitive advantage in the airsoft guns market. Several leading manufacturers are extending efforts in accurately replicating authentic gun models, which will be available on the market at competitive prices, to capture a broader customer base seeking a realistic live-fire experience. Manufacturers are thus intensifying their focus on the simulation of exact size, weight, and feel of popular gun models. Development of effective relationships with third party online stores and specialty stores that are primarily involved in sales and aftersales of airsoft guns, will establish as a compelling trend among competitors operating in the airsoft guns market.
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What are the Key Growth Influencers of Airsoft Guns Market?
The unprecedented growth in the adoption of airsoft guns in the role of firearm trainers over the hard metallic air gun projectiles that cause fatal injuries in some instances have been pacing up gains in the market. As airsoft guns lack the potential to inflict death on human beings, they are witnessing wide traction for amateur-training applications.
Rising number of enthusiastic and adventurous high net worth individuals are increasingly spending on airsoft guns, in line with the growing trend of outdoor team sports. Growing fondness for real shooting simulation sports continue to appeal to a wider pool of Generation X and boomers, who are actively participating in airsoft sports.
Airsoft has garnered substantial prominence as a sport in the United States in the past few decades, with several schools even having airsoft teams as unofficial sport. This growing traction for airsoft sport has been driving the sales of airsoft guns, thereby, rein enforcing the lucrativeness of the market.
Rapidly developing affection over airsoft continues to drive the development of a growing number of airsoft fields across several regions. With organizations turning old houses in ruins and previous training camps into professional airsoft fields and attracting increasing number of new players, future opportunities remain abound for the market players.
In light of growing number of shooting organizations hosting airsoft events, demand for airsoft guns, handguns, rifles, shortgun, and muzzle loading is accelerating at an unprecedented pace.
Key Challenges Faced by Stakeholders in Airsoft Guns Market
As 3/4th of the overall market size for airsoft guns represents a grey market, which is governed by stringent regulatory framework, it is likely to remain a major limiting factor responsible for restricting the growth prospects of stakeholders in the airsoft guns market.
Trademark conflicts continue to slow down the growth of the market, as several companies have been facing issues while manufacturing accurate replicas of real guns. As finely manufactured airsoft guns are increasingly facing concerns over violation of IP laws, particularly those regarding trademarks, manufacturers continue to struggle for rapid growth.
The popularity of airsoft guns has ballooned among millennial, pointing to a parallel increase in the rate of eye injuries. Growing association between eye injuries and use of airsoft pellets, continues to dampen the lucrativeness of the market.
About the AuthorDeeksha
Joined: January 3rd, 2019
Articles Posted: 12,334
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