According to the research report titled ‘Riflescopes & Red Dot Sight Market Share, Size, Trends, Industry Analysis Report By Magnification; By Sight Type; By Red Dot Sight Type; By Technology; By Application; By Range, By Regions, Segments & Forecast, 2020 – 2026’, available with Market Study Report, global riflescope & red dot sight market is expected to reach a valuation of USD 9.8 billion by the year 2026.
 

Increasing number of innovative product launches, focus among authorities towards modernizing armed forces, and rapid expansion of anti-terrorism activities are major factors fueling the growth of global riflescope & red dot sight market.
 

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It is to be noted that riflescopes offer numerous advantages for shooter. It not only eliminates the need for iron sights but also offers magnification features, which further assists in taking accurate shots. The scope also allows for sharp and crisp target picture. Thus, increasing utilization of riflescope & red dot sights by people with low vision is further aiding the market expansion.
 

As per magnification, global riflescope & red dot sight industry is segmented into >15x, 8-15x, and 1-8x. In terms of sight type, the market is bifurcated into reflex and telescopic segments. Moving on to red dot sight type, the industry is classified into mini reflex, microdots and full size segments.
 

Based on technology type, the market is split into laser, thermal imaging, and electro-optic/IR segments. By range type, worldwide riflescope & red dot sight industry is divided into long, medium and short segments. The application scope of the overall industry consists of shooting sports, armed forces and hunting.
 

According to the report, global riflescope & red dot sight industry from shooting sports application segment is predicted to showcase remunerative growth during the estimated timeframe. Growing trends and increasing popularity of shooting sports events have impelled the demand for riflescopes across the globe, further favoring the overall market outlook.
 

Considering the geographical landscape, global riflescope & red dot sight industry is categorized into North America, Europe, Asia-Pacific, South America, and Middle East & Africa, with key focus on countries such as Mexico, Canada, U.S., Netherlands, Spain, Italy, France, U.K., Germany, Australia, Japan, India, China, Chile, Brazil, Oman, Qatar, Saudi Arabia and UAE.
 

The report states that North America accounted for the largest market share in the year 2019 and is predicted to showcase similar growth trends in the forthcoming years. Increasing number of firearm possession in the United states along with high concentration of market majors are facilitating the business scenario in North America.
 

FLIR Systems, Nikon Corp., Nightforce Optics Inc., Aimpoint AB, Vortex Optics, Hensoldt AG, BSA Optics, Hawke Sports Optics, Leupold & Stevens Inc., Schmidt & Bender GmbH & Co. KG, Burris Company Inc., and Bushnell Corporation are the prominent companies operating in global riflescope & red dot sight market.