The Airsoft guns market is estimated to be valued at US$ 2 Bn in 2023 and is expected to exhibit a CAGR of 7.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Airsoft guns are replica guns that shoot non-metallic spherical projectiles known as airsoft BBs which are 6mm in size. While they may resemble genuine firearms, airsoft guns do not fire conventional ammunition and are primarily used for recreational activities. These guns provide a realistic simulation of combat situations for military simulation enthusiasts and are also used for sports such as airsoft battle games.
Market key trends:
Rising participation in recreational activities involving airsoft battles and military simulations is a key trend fueling demand for airsoft guns. Young adults in particular are increasingly taking interest in adventure sports and recreational activities that involve simulated combat and battle scenarios. This has led to a surge in participation in organized airsoft battle games and events across the world. Manufacturers are capitalizing on this opportunity by developing innovative airsoft gun models with advanced features that enhance realism and simulation experience. Moreover, availability of customization options and accessories is also boosting adoption of airsoft guns as a popular recreational activity.
Porter’s Analysis
Threat of new entrants: Low barriers to new entrants. However, established brands have strong customer loyalty and economies of scale.
Bargaining power of buyers: Moderate bargaining power of buyers due to availability of substitutes. However, buyers focus on quality, safety features and realism.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitutes. However, specialized components require long-term collaboration.
Threat of new substitutes: Threat of new substitutes is low as airsoft guns offer realistic training and enjoyment of simulated combat.
Competitive rivalry: Fierce competition between established brands to introduce innovative products and offer realistic experience.
SWOT Analysis
Strengths: Growing interest in airsoft sports and outdoor recreational activities. Rising popularity of simulated combat training.
Weaknesses: Strict regulations and bans in some countries and states. Higher costs compared to paintball guns.
Opportunities: Untapped growth opportunities in developing markets. Potential for partnerships with military and law enforcement for training.
Threats: Rising concerns over gun violence and injuries. Stringent norms could limit sales and marketing.
Key Takeaways
The Global Airsoft Guns Market Size is expected to witness high growth, exhibiting CAGR of 7.7% over the forecast period, due to increasing popularity of adventure sports and outdoor recreational activities. The market size is projected to reach US$ 3.5 Bn by 2030.
Regional analysis - Asia Pacific dominates the global market with over 40% share due to high availability and rising participation in tactical games and combat simulators in China, Japan and South Korea. Europe follows next with over 30% share favoured by growing airsoft player communities in Germany, UK and France.
Key players operating in the airsoft guns market are ICS Airsoft, Inc., Tokyo Marui Co. Ltd., A&K Airsoft, Umarex GmbH & Co. KG and Classic Army. These established brands focus on continuous innovation, quality manufacturing and realistic performance to strengthen market presence.
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https://www.newswirestats.com/airsoft-guns-market-share-size-forecast-outlook-2023-2030/
