According to Fortune Business Insights™, the global rifles market was valued at USD 3.44 billion in 2024. It’s projected to grow from USD 3.54 billion in 2025 to USD 4.77 billion by 2032, reflecting a CAGR of 4.35% over the forecast period. In 2024, North America led the market, accounting for 43.31% of total revenue driven by elevated defense spending, robust civilian usage, and widespread adoption of advanced rifle systems.
What Is a Rifle?
A rifle is a long-barreled firearm designed for shoulder firing. Its defining feature is rifling—spiral grooves cut inside the barrel that impart a stabilizing spin to the bullet, enhancing its accuracy and effective range. Rifles are precision instruments extensively used in military operations, law enforcement, hunting, and competitive shooting, where their superior long-distance accuracy sets them apart from shotguns and pistols.
Competitive Landscape
The market remains highly competitive, featuring global players like:
These companies are increasingly investing in R&D, forming strategic partnerships, and leveraging M&A to gain competitive advantage through innovations like smart fire control, lightweight materials, and digital targeting systems.
Market Composition & Drivers
The rifles market spans a broad spectrum from traditional non-automatic rifles to semi‑automatic, sniper, and automatic variants, with key segments including hunting, sporting, military, and law enforcement applications.
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