February 23, 2024
Airsoft Guns Market

Growing Demand For Adventure Sports Is Expected To Boost The Growth Of Airsoft Guns Market

Market Overview:

The global 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.

Airsoft guns are replica toy guns that fire plastic BBs that are painlessly shot at opponents. These guns are used in recreational Airsoft games and shooting where teams compete against each other in outdoor as well as indoor simulated combat situations. Airsoft guns offer a realistic look and feel of actual firearms without causing any harm as they shoot 6mm plastic BBs instead of metal bullets. They come in varying action styles such as spring, electric, and gas powered with varying firing ranges depending on the power output. Airsoft guns provide an exciting adventurous sport experience to participants.

Market key trends:

Airsoft guns that provide realistic gun handling experience with accurate design replicas of actual firearms is a major trend. Manufacturers are focusing on developing airsoft guns with upgraded designs and features to offer immersive experience to users. For instance, ICS Airsoft, Inc. offers airsoft guns with features such as fully licensed trademarks, realistic trademarks, trade dress replicas, fully functional bolt catch/release, bolt lock back after last shot, working charging handle, and realistic blowback systems. Furthermore, increasing popularity of outdoor adventure sports among millennials and generation Z is driving the demand for airsoft guns. Individuals are increasingly participating in recreational activities like airsoft that offer real shooting experience without legal hassles. This has encouraged manufacturers to develop state-of-the-art airsoft guns with upgraded features to engage customers.

Porter’s Analysis

Threat of new entrants: Low barrier to entry in manufacturing favor new players entering the market. However, established brands have strong customer loyalty and distribution networks.

Bargaining power of buyers: Individual consumers have high bargaining power due to availability of substitutes. However, professional players and law enforcement agencies have low bargaining power due to unique requirements of airsoft guns.

Bargaining power of suppliers: Suppliers of raw materials and components like plastic and electronic parts have low bargaining power due to availability of substitutes.

Threat of new substitutes: Low threat as airsoft guns efficiently meet the requirements of simulation and outdoor recreation activity better than any other substitutes.

Competitive rivalry: Intense competition among existing players due to their focus on product innovation, branding 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 participation in outdoor recreational activities. The market size for 2023 is estimated to be US$ 2 Bn.

North America dominates the global airsoft guns market with over 30% revenue share in 2023. Increasing consumer preference for realistic simulation and outdoor sports in countries like U.S. and Canada is driving market growth. Asia Pacific is expected to be the fastest growing region on back of rising airsoft gun culture in countries like Japan, China and South Korea.

Key players operating in the airsoft guns market are ICS Airsoft, Inc. ICS focuses on product innovation and offers wide range of spring, electric and gas blowback airsoft guns.

*Note:
1.      Source: Coherent Market Insights, Public sources, Desk research
2.      We have leveraged AI tools to mine information and compile it