Technavio, a tech-focused market research firm, has published a new report on the global spotting scope market, which is expected to grow at a CAGR of close to 5% during the forecast period, 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global spotting scope market into the following key regions: the Americas, APAC, and EMEA.
Source: Technavio
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Top three contributors for the global spotting scope market are elaborated below:
Spotting scope market in the Americas: The growth of the spotting scope market in the Americas is driven by the constantly changing nature of warfare. Furthermore, the growing occurrence of clandestine sniping (urban guerrilla sniping) will also propel the adoption of spotting scopes in the region.
According to Moutushi Saha, a lead analyst at Technavio, specializing in research on defense, “Increased interest among educational institutions for the inclusion of target shooting as a part of co-curricular activities is also anticipated to facilitate the growth of the spotting scope market in the Americas.”
Spotting scope market in EMEA: The market for spotting scopes in EMEA is led primarily by European countries such as Germany, Switzerland, Sweden, the UK, Russia, Italy, France, Belgium, Austria, and Spain. These products are used primarily for bird-watching and wildlife photography. In the Middle East, countries like Israel, Turkey, and the UAE spend substantially on procuring sniping equipment, which will also have a significant positive impact on the growth of the market in EMEA over the next five years.
Spotting scope market in APAC: China, India, Australia, Japan, and South Korea are some of the key revenue contributors in the spotting scope market in the APAC region. The projected increase in participation in activities such as rifle shooting and bird watching are likely to reflect positively on the growth of the market during the next four years.
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The leading vendors operating in the global spotting scope market are:
- Celestron
- KOWA Optimed
- Leupold Optics
- Nikon
- SWAROVSKI OPTIK
Other prominent vendors in the market include Hawke Optics, Konuspro, US Optics, and Vortex Optics.
A more detailed analysis is available in the Technavio report titled, ‘Global Spotting Scope Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Night Vision Scope Market 2017-2021
- Global Student Microscope Market 2016-2020
- Global Night Vision Devices Market 2016-2020
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