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 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Airsoft guns are replica toy guns used in airsoft sports. These guns fire spherical and non-metallic projectiles made of plastic or biodegradable materials. They are used for recreational sports activities like mock battles between opposing teams in outdoor areas.
Market Dynamics:
Increasing participation in outdoor recreational activities like airsoft sports is driving the demand for airsoft guns globally. According to National Sporting Goods Association data, over 18 million people participated in airsoft sporting activities in North America in 2018. Moreover, presence of prominent airsoft associations and leagues that organize airsoft tournaments and events is also fueling the market growth. For instance, Canadian Airsoft League organizes regional and national airsoft tournaments in Canada. However, stringent regulations regarding the sale and use of airsoft guns in some countries may hinder the market growth during the forecast period.
SWOT Analysis
Strength:
- Wide range of products available at different price points catering to both beginners and professionals. This allows airsoft guns to attract a diverse consumer base.
- Better realism and customization options compared to paintball guns attract enthusiasts looking for realistic combat experience.
- Growing popularity among younger generations as an adventure sport and hobby increases the customer base.
Weakness:
- Overly realistic designs raise safety concerns and legal restrictions in some regions. This limits the addressable market territory.
- Dependence on discretionary spending makes the market volatile and vulnerable to economic downturns.
Opportunity:
- Untapped growth potential in developing Asia Pacific markets with large younger populations offer new customer segments.
- Collaboration with videogame and movie franchises allows leveraging of existing fan bases to promote the sport.
Threats:
- Stringent laws and misuse of airsoft guns for unauthorized purposes negatively impact sales in restrictive geographies.
- Threat from substitutes like laser tag and newer virtual reality combat simulations that provide realistic experience without safety issues.
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 among younger demographics as an adventure sport. The market size is projected to reach US$ 2 billion by 2023 from US$ 1.5 billion in 2018.
Regional analysis
The Asia Pacific region dominates the global airsoft guns market, accounting for more than 35% share in 2023. Rapid economic growth, large youth population, and increasing disposable incomes in countries like China and India are driving the demand. North America is another major region benefiting from large consumer base and popularity as a competitive team sport in the US.
Key players
Key players operating in the airsoft guns market are ICS Airsoft, Inc., Tokyo Marui Co. Ltd., A&K Airsoft, Valken, Inc., Umarex, Colt's Manufacturing Company, Classic Army, KWA Airsoft, Lancer Tactical, and Cybergun SA. ICS Airsoft and Tokyo Marui have established strong brand value and market dominance with wide assortments of airsoft rifles, pistols and accessories.
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