As cited by the business intelligence report titled ‘Global Sports Gun Market Size study, by Gun Type (Rifle, Pistol and Shotgun), by Application (Competitive Shooting and Recreational Sports), by Distribution Channel (Gun Stores, Sporting Goods Stores, Online and Others) and Regional Forecasts 2020-2027’, available with Market Study Report, global sports gun market was worth USD 2.4 billion in 2019 and is projected to exhibit 9.7% CAGR over 2020-2027, subsequently reaching a valuation of USD 4.2 billion by the end of the forecast period.
 

According to industry experts, growing participation in shooting sports, increasing establishment of shooting range set up activities, and rapid development in hunting tourism industry are accelerating global sports gun market growth.
 

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Further, favorable initiatives by government as well as private organizations coupled with widespread adoption of sports activities across the globe are further propelling the industry expansion during the analysis timeframe.
 

For those unaware, sports guns are non-lethal weapons which are mainly used for recreational purposes and competitive shooting activities. These guns primarily include shotguns, pistols, and rifles, and are adopted in various shooting sports including the Olympics and Commonwealth Games.
 

Despite the positive outlook of global sports gun market, stringent regulations pertaining to purchase and sale of sports guns, along with growing occurrences of gun violence and mass shooting will continue to barricade business development in the forthcoming years.
 

Speaking of the regional outlook, the industry vertical is fragmented into North America, Asia-Pacific, Latin America, and Europe. Among these, North America sports gun market currently dominates the business domain and is anticipated to grow tremendously through 2027. Escalating number of Olympic shooting participants and advent of innovative shooting sports activities are fostering the regional industry expansion.
 

Meanwhile, Asia-Pacific marketplace is predicted to expand with a strong year-on-year growth rate over the stipulated timeframe.
 

Elaborating on competitive scenario, Beretta Holding S.A., American Outdoor Brands, Inc., Sturm, Ruger & Co., Inc., Browning Arms Co., Crosman Corp., Colt's Manufacturing Co., LLC, German Sport Guns GmbH, J.G. Anschütz GmbH & Co. KG, Howa Machinery, Ltd., and Olympic Arms, Inc. are the key participants in global sports gun market sphere.