This industry is growing as a result of the rise in demand for weapons and shooting education among individuals and law enforcement agencies worldwide. Because of the rising application of virtual reality innovation in this sector, the market for live fire ranges is also expanding. Additionally, there is a higher demand for live fire training as terrorist strikes and mass shootings have become increasingly frequent. This is so that people can learn how to react and respond in these sorts of circumstances via live fire training.
COVID-19 Impact and Market Status
The market for live firing ranges has been adversely affected by the worldwide COVID-19 infestation. Numerous shooting ranges have been forced to close as a result of the lockdown that has been imposed by various countries in an effort to stop the virus's spread. The demand for live fire range services and products has consequently decreased. As the lockdown restrictions are lifted and people resume their regular lives, it is anticipated that the market would gradually recover. The industry is also anticipated to expand in the future as a result of the rise in demand for weapons and shooting education among the general public and law security agencies.
The Software Services to Emerge as the Most Lucrative Type
Hardware facilities, software services, and government institutions are the three distinct types of market segments. In light of the increasing usage of virtual reality technology in live fire training, the software services segment is estimated to expand at the highest CAGR during the projection period. This market segment is expanding due to the demand for higher training standards and infrastructure for members of the military and law enforcement.
The Individual Segment is the Most Popular Application
The government and individual segments of the worldwide live fire range market are segregated based on application. As more people get interested in guns and shooting actions, the individual industry is expected to expand at a faster CAGR throughout the forecast period. Along with military and law enforcement training, the usage of live fire ranges for amusement is also becoming increasingly popular.
North American region will provide Adequate Repayment Options
The market for live fire ranges is subdivided geographically into North America, South America, Africa, Asia-Pacific, Europe, and the Middle East. North America is predicted to be the greatest marketplace for live fire ranges due to the large number of vendors in this area. Likewise, the United States ranks among the top spenders on defence globally, which is promoting the expansion of this industry in North America.
Due to the demand for safe and reliable training for the military forces and law enforcement organizations, the live fire range industry is expanding worldwide. Traditional training techniques are outmoded, and more sophisticated techniques that can provide accurate simulations are required. Live firing ranges offer many advantages over more conventional training methods. It aids in preventing training-related injuries and gives soldiers a more realistic teaching atmosphere. Additionally, it aids in ammunition cost savings.
A live fire range is a location where weapons are fired. It may take place inside or outside. A live fire range's chief purpose is to train military personnel and law enforcement officials. Additionally, it can be utilized for leisure activities like target practice and competitive shooting. Furthermore, gun makers can carry out research and development on live firing ranges.
Live fire ranges offer facilities for practicing with and understanding how to use weapons. Targets, shooting lanes, backstops, ballistic containment systems, and gun cleaning stations are among the hardware facilities. Ballistics modeling, range control, and scoring systems are among the software and services. Live firing ranges are utilized by government organizations to train law enforcement and military personnel. These ranges are used by individual shooters for practice and competition shooting.
During the projected period of 2019–2029, the global live fire range market is anticipated to expand at a CAGR of 6.3% and to be valued at USD 25.7 billion by 2029. The global increase in demand for firearms and shooting instruction among citizens and law enforcement organizations is responsible for this market's expansion. The market for live fire ranges is also booming as a result of the increased use of virtual reality innovation in this industry.
The Live Fire Range Market is being driven by a rise in consumer and law enforcement organization demand for firearms and shooting instruction. Because of the actively developing of virtual reality innovation in this sector, the market for live fire ranges is also flourishing. The demand for higher training standards and facilities for personnel of the armed services and law enforcement officials is another factor influencing the development of this market.
The strict rules governing the construction of live firing ranges are the limitations preventing this market's expansion. Also, the exorbitant expense of constructing a live fire range is restricting market expansion. Nonetheless, the industry is anticipated to expand significantly over the next few years as a result of rising public and law enforcement demand for firearms and shooting education.
Some of the leading significant players in the worldwide live fire range market include MILO Range Trainers, Northrop Grumman Corporation, Global Firepower, Meggitt PLC, and QinetiQ Group plc. Axon Enterprises, Inc., Raytheon Company, CompTIA, FATS, Inc., Laser Shot Holdings, Ltd., LockNLoad Range, Firearms Training Systems, Inc., and SAA International, Inc. are a few prominent well-known enterprises operating in the sector. To strengthen their market positions, these competitors are utilizing a variety of organic and inorganic growth techniques, involving acquisitions and mergers new product launches, expansions, and partnerships and collaborations. So, categorized by type, applications, and geography, this report offers a thorough evaluation and forecast of the global live fire range market.
Recent Developments of Global Live Fire Range Market
- FST21 Ltd., an Israeli firm that specialises in access management and security solutions powered by artificial intelligence (AI), was purchased by Meggitt PLC in 2019. Meggitt anticipates that this acquisition will aid in the growth of both its clientele and product line. Moreover, it will strengthen the businesses' prominence in the Israeli military industrial complex.
- The Swedish Defence Material Administration (FMV) awarded a contract to Saab AB in September 2019 to provide the Swedish Air Force with 12 Caracal light attack aircraft. The 4.5 billion SEK transaction will assist strengthen Sweden's defence capabilities.
Live Fire Range Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 25.7 billion.|
|Growth Rate||CAGR of 6.3 % during 2021-2028|
|Segment Covered||Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||MILO Range Trainers, Northrop Grumman Corporation, Global Firepower, Meggitt PLC, and QinetiQ Group plc. Axon Enterprises, Inc., Raytheon Company, CompTIA, FATS, Inc., Laser Shot Holdings, Ltd., LockNLoad Range, Firearms Training Systems, Inc. & among others.|
Key Segments of the Global Live Fire Range Market
Type Overview, 2019-2029 (USD Billion)
- Software Services
- Hardware Facilities
Application Overview, 2019-2029 (USD Billion)
Regional Overview, 2019-2029 (USD Billion)
- The rest of Europe
- Asia-Pacific as a whole
- South America's remaining countries
Middle East and South Africa