Red Dot Sight Market Size Worth USD 96.9 Million in 2032 | Emergen Research
Rising demand for advanced aiming solutions in defense and military applications is one of the major factors driving Red Dot Sight market revenue growth
Vancouver, Jan. 01, 2024 (GLOBE NEWSWIRE) -- The global red dot sight market size was USD 59.8 Million in 2022 and is expected to register a steady revenue CAGR of 5.0% during the forecast period, according to latest analysis by Emergen Research. Rising demand for advanced aiming solutions in defense and military applications is the primary factor driving market revenue growth. A red dot sight is a weapon optic that projects a brilliant dot-shaped reticle at 1x magnification and provides a clearer field of view and a more exact point of aim.
In addition, rising number of companies launching new red dot sight products is another key factor driving revenue growth of the market. For instance, on 18 July 2023, SIG SAUER Electro-Optics launched the ROMEO-X series of optics. The ROMEO-X line of red-dot sights was available in two models, ROMEO-X Compact for micro-compact pistols, such as P365 and ROMEO-X Pro, for full-size pistols including P320 to fit micro-compact pistols, and a Pro version (ROMEO-X Pro), to fit full-size pistols. These models will feature distortion-free aspheric glass with a patent-pending Beryllium Copper flexure-arm adjustment system, in 7075 aircraft-grade aluminum housing with machined anti-reflection grooves on shooter facing surfaces.
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Moreover, increasing investments in R&D activities and collaborations with defense technology manufacturers is another factor driving market revenue growth. For instance, on 23 March 2021, SIG SAUER, Inc. stated that the Delaware State Police has adopted SIG SAUER P320RXP Pistols with a factory-installed SIG SAUER Electro-Optics ROMEO1Pro red dot sight. The SIG SAUER P320 RXP handgun is a 9mm striker-fired pistol featuring a factory installed ROMEO1PRO Open Reflex sight and suppressor height backup sights, an ambidextrous slide catch lever, a reversible magazine catch, and modular polymer grip module in small, medium, and large sizes. However, red dot sights are relatively expensive compared to traditional iron sights, which could restrain market revenue growth.
*Scope of Research *
*Report Details* *Outcome*
Market Size in 2022 USD 59.80 Million
CAGR (2023–2032) 5.0%
Revenue Forecast To 2032 USD 96.94 Million
Base Year For Estimation 2022
Historical Data 2019–2021
Forecast Period 2023–2032
Quantitative Units Revenue in USD Million and CAGR in % from 2023 to 2032
Report Coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments Covered Product type, sight type, technology, application, end-use, and region
Regional Scope North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Country Scope U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa
Key Companies Profiled Aimpoint️ AB, TRIJICON INC., SIG SAUER Inc, EOTECH, LLC, Leupold & Stevens, Inc., Vortex Optics, HOLOSUN, Burris Company, Bushnell, and STEINER-Optik GmbH
Customization Scope 10 hours of free customization and expert consultation
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*Major Companies and Competitive Landscape *
The global red dot sight market is fragmented with large and medium-sized market players accounting for the majority of revenue. Major players are deploying various strategies, entering into mergers and acquisitions, strategic agreements and contracts, developing, testing, and introducing more effective red dot sight products in the market. Some major players included in the global red dot sight market report are:
· Aimpoint️ AB
· TRIJICON INC.
· SIG SAUER Inc.
· EOTECH, LLC.
· Leupold & Stevens, Inc.
· Vortex Optics
· HOLOSUN
· Burris Company
· Bushnell
· STEINER-Optik GmbH
*Strategic Development*
· On 1 August 2023, Trijicon, Inc., the global provider of revolutionary aiming solutions to the military, law enforcement, and self-defense enthusiasts, introduced the new Trijicon RCR or Ruggedized Closed Reflex. The RCR is an extremely durable closed emitter optic that fits the stringent requirements for military and law enforcement applications that require a small, sealed emitter optic.
· On 25 February 2022, Aimpoint, the premier manufacturer and inventor in red dot sighting technology, announced the debut of all-new Aimpoint Duty RDSTM sight. This high-grade reflex optic provides Aimpoints' top product quality in a small packaging at a low cost. The Duty RDSTM features a bright, sharp 2 MOA dot that is suited for close-range target engagements.
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*Some Key Highlights From the Report*
· The tube-style red dot sight segment accounted for largest revenue share in the global red dot sight market in 2022. This is due to rising demand for tube sights as these tubes offer tighter minutes of angle and the more enclosed sight picture aids in focusing on distant targets. In addition, quick target acquisition capability of tube-style red dot sights is another factor driving revenue growth of this segment. The unlimited eye relief allows shooters to maintain a natural and comfortable shooting posture while acquiring targets rapidly. In addition, these tube sights are compatible with a wide variety of rifles and heavy machine guns, making these versatile and easily interchangeable among different firearms.
· The non-magnified red dot sight segment is expected to register steadily fast revenue growth rate in the global red dot sight market during the forecast period. This is due to rising use of non-magnified red dot sights owing to their parallax-free design, which ensures that the reticle remains on target regardless of the shooter's head movement or eye position. Non-magnified red dot sights provide rapid target acquisition, as a result allows users to engage threats quickly and accurately, especially in close-quarters combat scenarios.
· The North America market accounted for largest revenue share in the global red dot sight market in 2022. This is due to rising demand for red dot sights as these provide a simple and intuitive aiming system, enhancing accuracy and precision for users. The illuminated red dot allows for quick target acquisition, making these popular for both professional and recreational shooters. In addition, rising product launches by major companies is also expected to drive market revenue growth of this region during the forecast period.
· On 16 February 2021, Eotech launched G43 and G45 magnifiers from EOTECH are ideal companions for EOTECH HWS units, effectively transforming these into close to medium-range weapon sighting systems. The G43 and G45 magnifiers was available in a Flat Dark Earth (FDE) color option to complement the widely used FDE-colored optics and firearms. These magnifiers come with a Switch-to-Side magnifier mount that features a secure, adjustable, and quick-detach lever. The ambidextrous design allows for easy switching to either the right or left side to accommodate the shooter's preference.
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*Emergen Research has segmented global red dot sight market on the basis of* *product type, sight type, technology, application, end-use, and region:*
· *Product Type Outlook (Revenue, USD Million; 2019–2032)*
· Tube-Style Red Dot Sight
· Basic Tube Red Dot Sights
· Multi-Reticle Tube Sights
· Solar-Powered Tube Sights
· Open Reflex Red Dot Sight
· Standard Open Reflex Sights
· Quick-Release Mount Reflex Sights
· Night Vision Compatible Reflex Sights
· Enclosed Reflex Red Dot Sight
· Prismatic Red Dot Sight
· Fixed Magnification Prism Sights
· Variable Magnification Prism Sights
· Compact Prism Sights
· Others
· *Sight Type **Outlook (Revenue, USD Million; 2019–2032)*
· Non-Magnified Red Dot Sight
· Magnified Red Dot Sight
· *Technology **Outlook (Revenue, USD Million; 2019–2032)*
· Led Red Dot Sight
· Holographic Red Dot Sight
· Laser Red Dot Sight
· *Application** Outlook (Revenue, USD Million; 2019–2032)*
· Military Application
· Law Enforcement Application
· Sports and Recreational Shooting
· Hunting
· Civilian Defense and Security
· Other Applications
· *Distribution Channel **Outlook (Revenue, USD Million; 2019–2032)*
· Business to Business (B2B)
· Distribution Channels
· Retailers
· Wholesalers
· Online Retailers
· · · Aftermarket Support
· Service Centers
· Technical Assistance
· Spare Parts Supply
· · · Commercial End-Use
· Shooting Sports Enthusiasts
· Hunting Equipment Retailers
· Shooting Range Operators
· · Business to Government (B2G)
· Government Agencies
· Defense Procurement Agencies
· Law Enforcement Agencies
· Paramilitary Organizations
· · · Military End-Use
· Armed Forces
· Special Operations Units
· Homeland Security
· · · Government Contracts
· Large-Scale Procurement Contracts
· Defense Modernization Initiatives
· *Regional Outlook (Revenue, USD Million; 2019-2032)*
· North America
· U.S.
· Canada
· Mexico
· Europe
· Germany
· France
· UK
· Italy
· Spain
· Benelux
· Rest of Europe
· Asia Pacific
· China
· India
· Japan
· South Korea
· Rest of APAC
· Latin America
· Brazil
· Rest of LATAM
· Middle East & Africa
· Saudi Arabia
· UAE
· South Africa
· Turkey
· Rest of Middle East & Africa
· · Homeland Security Projects
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