Key vendors to focus on the development of advanced products to keep pace with the competition in the market.
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five vendors for the global archery market in their latest research report. This report also lists 16 other prominent vendors who are expected to contribute to this market’s growth between 2017-2021.
Competitive vendor landscape
The global market for archery equipment is characterized by the presence of several vendors with diverse product portfolios. The market penetration is concentrated around the Americas and Europe. New product launches and technology upgradation are the key focus areas for manufacturers of archery equipment. Vendors who operate in more emerging markets, such as APAC, focus on expanding and stabilizing their geographical presence by leveraging both, online and offline channels.
According to Poonam Saini, a lead analyst at Technavio for research on retail goods and services, “Intense competition in the market space is prompting several dominant players to develop many advanced products in an attempt to gain shares and strengthen their foothold in the market. Some vendors also provide innovative solutions as part of their product portfolios.”
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Top five vendors in the archery equipment market space
Bear Archery
Bear Archery engages in the designing, manufacturing, and marketing of archery products. Some of the products offered by the company include bows, gear, and accessories. The company has a strong operational presence in various countries including the US, Canada, Germany, the UK, and France.
Key products: Fortus, Bruzer FFL, Legend series LS-6, BR33, Threat, Marshall, and Wild.
GOLDTIP
GOLDTIP engages in the production of carbon arrows and offers products under the arrows, components, and gear segments. The company receives considerable support from its parent company Vista Outdoor in the field of technical expertise, manufacturing capabilities, R&D, sales, and distribution network. In addition, the company focuses on product innovation to gain a competitive advantage.
Key products: New Pierce, Hunter, Traditional wood gain, Ted Nugent, Nitro Pro, Nocks, Points, and Bushings.
Mathews Archery
Mathews Archery engages in the designing, development, and manufacturing of bows and other archery accessories. The company has sponsored many professional archers including Levi Morgan, Bridger Deaton, Justin Bethel, and Sherry Hott, TY Adkins. These sponsorships offer the company an added platform to showcase its products and influences the consumers’ buying decision.
Key products: Custom Grips and Engraving, Arrow web FP series two piece, Harmonic Stabilizer, Monster Safari, Dead End String Stop, Z3, and Halon.
New Archery Products
New Archery Products is a leading player in the manufacture of archery equipment. The products offered by the company include broadheads, arrow rests, quivers, stabilizers, and accessories. The company has a strong dealer network which strengthens its geographical reach in many countries such as US, Argentina, Canada, Denmark, Australia, China, Finland, France, Japan, Mexico, Germany, India, and others.
Key products: Apache Predator Bowfishing L.E.D Stabilizer, Quikfletch Blazer, American Pride Quikfletch, Heartland Bowhunter Edition, and Apache Predator Bowfishing L.E.D Stabilizer.
PSE Archery
PSE Archery is a leading manufacturer of bows of various kinds including compound bows, crossbows, target bows, and traditional recurve bows. Some of the products offered by the company include the Pro series compound bows, field ready bows, and bow accessories.
Key products: Carbon Air 34 ECS, PSE Xpression 3D, Vendetta VX, Phenom SD, Evolve, and Decree HD 32.
A more detailed analysis is available in the Technavio report, Global Archery Equipment Market 2017-2021. Technavio also customizes reports by other regions and specific segments upon request.
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