One of the major and essential factors driving the growth of the global shooting range market is the introduction of low cost and innovative solutions intended for target practice in defense and military sectors around the world. Solutions in the global shooting range market, known as weapon range, firing range, or discharging reach are fields or scenes explicitly designed for competitions, weapon utilization capabilities, or gun firing practice. Solutions offered by the vendors in the global shooting range market include outdoor shooting ranges as well as indoor shooting ranges. Major end users for the solutions in the global shooting range market include defense as well as civil sectors.
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Some of the key incumbent players and vendors functioning within the global shooting range market inclue ELI Military Simulations, Ltd., Action Target Inc., Cubic Corporation, Shooting Range Industries, Saab AB, Theissen Training systems GmbH, Military Simulations Ltd., Savage Range systems, Meggitt Training System Inc., Polytronic International AG, Range Systems, Inc., and Laser Shot Inc., among others. Players in the global shooting range market are heavily investing in order to advance their research and development activities in order to gain an upper hand in the competitive landscape of the industry in the next few years.
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Furthermore, several players and vendors in the global shooting range market are also engaging in inorganic growth strategies such as mergers as well as acquisitions in order to increase their combined revenue and gain a lucrative industry position. For example, Michigan’s Natural Resources Trust Fund financed The Rose Lake Shooting Range in order to upgrade their offices. This move also allowed the Rose Lake Shooting Range to provide facilities and services to host differently abled or physically challenged individuals.