Innovations in Digital Technologies Gain Traction in the Archery Equipment Indus

Posted by Arslan on October 3rd, 2019

The sport of archery is rapidly becoming a popular option in terms of recreational activities and is being adopted by a steadily increasing portion of the global population. Consequently, the adoption and sales of archery equipment is also on the rise. The inclusion of archery in the Olympics in the past few decades has also contributed to the sport and has created opportunities of growth and product development among archery equipment manufacturers.

Rising Participation by Children and Women Boosts Demand

Archery has gained traction in amateur and professional sports. In addition, experts have found that archery can play a substantial role in the mental and physical development of children who take up this sport, which has increased the demand for archery equipment. Further, governments around the world are also promoting programs of archery which aim to increase public participation in the sport. For instance, the United States has set up a number of organizations such as the National Field Archery Association, the After School Archery Program, National Archery in the Schools Program, and the Junior Olympic Archery Development Program.

These initiatives have resulted in the growing participation of women, in the sport which has been traditionally dominated by men. The growing infrastructural support for the sport will bolster the demand for equipment such as targets, bows, and arrows in addition to specialized clothing and accessories. All such aspects are inclined to motivate sales across the archery equipment market in the coming years.

Tech Innovations Drive Product Development Opportunities

Innovation has a major role to play in the development of the archery equipment industry, as manufacturers work to develop and push smart archery equipment to keep ahead of the competition. Development of equipment such as cutting edge auto range, digitalized, laser bow sights have created a splash in the archery equipment industry.

This new technology allows archers to measure distances from the bow to the target, and also provides them with a lit pin which bolsters the ability of the archer to hit the target with perfection. Technological innovations have reshaped the parameters of application for traditional archery equipment that is being sold around the world. In addition to technology, manufacturers are also working to produce advanced archery equipment with novel raw materials, which substantially boosts the performance of the equipment. On the other hand, new materials also increase the costs of equipment, which could hinder the growth of the industry in the near future.

For instance, carbon nanomaterials are becoming the new material of choice which are being used to produce different types of archery equipment. The material provides numerous benefits such as increased hardness, durability, wear resistance, resilience, and strength to weight ratio, in addition to reductions in weight and friction.

Flood of Counterfeit Products Restrict Manufacturers

The global industry of archery equipment includes a wide range of local and major international brands. In recent times, local brands are being flooded with the presence of counterfeit products, which although substantially cheaper are in consistent in terms of performance, and can even be potentially harmful to users.

This creates a negative impact in terms of user perception and restricts the growth of legitimate manufacturers in the industry, owing to the dilution of brand value which is created by the poor performance of counterfeits. Consequently, a number of manufacturers are posting advisories and press releases to alert consumers and retailers to this issue in an effort to combat the counterfeiters. In addition to the threat of counterfeit products, the decline of hunting activities are also proving detrimental to the growth of archery equipment manufacturers. Hunting has is being declared illegal in a growing number of nations around the world. Consequently, people are giving up on the sport in fear of violating international regulations. This trend is expected to bring about a steady decline in the demand for archery equipment in the long term.

Wider Range of Distribution Channels Create Growth Opportunities

Archery is a very common sports activity in the developed regions of the world including the European Union and North America. Encouragement from these governments has resulted in the increased sales of archery equipment in these regions. The global media also has a major role in the promotion of archery in the public domain. The inclusion of the sport in popular TV shows and movies are increasing public participation in training organizations, which increases the demand for archery equipment, which is expected to grow sharply in the years ahead.

Manufacturers and dealers are facing competition from the increased spread of mass merchants and box stores. These sales channels are becoming increasingly lucrative as they allow the proliferation of a wider variety of archery equipment to spread on a global scale. In addition, third party online channels of distribution and direct to customer channels are also expected to grow with a sharp upward trajectory, as they scramble to meet the rising demand.