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                                     MarketResearch.com
SHOOTING RANGES MARKET
       FORECAST TO 2020

       By Product (Indoor, Outdoor), By Sub-Products (Virtual Simulator, Targets),
       By Indoor & Outdoor Targets - Sub Products, By Application (Civil, Military)
       & By Geography

sales@marketsandmarkets.com                                         Report Code: AS 3401
SHOOTING RANGES MARKET- FORECAST TO 2020

               MarketsandMarkets is a global market research and consulting company based in the U.S. It is World’s No. 2
               in terms of premium market research studies published annually We publish strategically analyzed market
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               Copyright © 2015 MarketsandMarkets
               All Rights Reserved. This document contains highly confidential information and is the sole property of
               MarketsandMarkets. No part of it may be circulated, copied, quoted, or otherwise reproduced without the
               approval of MarketsandMarkets.

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       1               INTRODUCTION

       1.1              OBJECTIVES OF THE STUDY
                      To define, describe, and forecast the shooting ranges market on the basis of categories, sub-
                       categories, products, applications, and regions
                      To strategically analyze micromarkets1 with respect to individual growth trends, future
                       prospects, and contributions to the total shooting range market
                      To foresee the degree of competition in the market by identifying the key players in the market
                      To identify and analyze the key drivers, restraints, opportunities, challenges, winning
                       imperatives, and burning issues influencing the market and to detail their influence on the
                       shooting range market
                      To analyze the status of the procurements, technological advancements, and innovative
                       product launches in the market
                      To analyze the macro and microeconomic indicators influencing the shooting ranges market
                       through a factor analysis of the demand-side and supply- side
                      To forecast the market segments in North America, Europe, Asia-Pacific, the Middle East, and
                       Rest of the World (RoW)
                      To analyze the opportunities in the market for stakeholders and to provide details of a
                       competitive landscape for market leaders
                      To strategically profile key players and comprehensively analyze their market share and core
                       competencies2

       1.2              MARKET DEFINITION
       An indoor or outdoor firing range, restricted to certain types of firearms—rifle or handgun—is known as a
       shooting range or firing range. Shooting ranges are specialized facilities designed for firearms practice for
       civil and military applications. Use-of-force training is provided through shooting range simulation that
       develops the requisite skills for personnel armed with both, lethal and less-lethal weapons. Indoor shooting
       ranges are popular among law enforcement agencies and are used to train and certify federal law
       enforcement personnel. In many shooting ranges, only bullets with lower than .50 caliber are permitted.

       A Tactical Engagement Simulation System (TESS) is a training platform to use weapons. In modern TESS
       systems, laser transmitters are mounted on the weapon and aligned with its barrel, instead of bullets or
       short-range guided weapons. The military uses simulation technology or shooting ranges to cut costs and
       provide efficient training to its troops. TESS provides a realistic weapons effect for all types of weapons and
       assesses the weapons’ effect experienced during live training and real-combat exercises, using weapon
       and battlefield sensors.

       ___________
       1. Micromarkets are defined as the further segments and sub-segments of the global shooting ranges market included in the report.
       2. Core-competencies of the companies have been captured in terms of their key developments, SWOT analysis, and key strategies adopte d to sustain their
       position in the market.

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       1.3           MARKET SCOPE

       1.3.1              MARKETS COVERED
       This research report categorizes the shooting ranges market into the following segments:

       FIGURE 1           MARKET SCOPE: SHOOTING RANGES

                                                        SHOOTING
                MARKET ANALYSIS                       RANGES MARKET                                  BY REGION
                • Market Overview                                                                    • North America
                • Market Dynamics                                                                    • Europe
                                                                                                     • Asia-Pacific
                                                                                                     • The Middle-East
                                                                                                     • Rest of the World
                                                                                                       (RoW)

                                    BY APPLICATION                                     BY PRODUCT
                                    • Civil                                            • Indoor
                                    • Military                                         • Outdoor

       Source: Expert Interviews, Secondary Research, and MarketsandMarkets Analysis

       1.3.2              GEOGRAPHIC SCOPE
       This report provides the size forecast for the shooting range market, by product and by application, across
       five regions: North America, Europe, Asia-Pacific, the Middle-East, and RoW (which comprises Latin
       America and Africa).

       The countries studied in the regions are the U.S. and Canada in North America; the U.K., Russia, and
       Germany in Europe; India, China, and Australia in the Asia-Pacific region, UAE and Israel in the Middle East;
       South Africa and Brazil in RoW.

       1.3.3              PERIODIZATION
       The years considered for the study are as shown in the table below:

                           Year                                                        Description

        Base Year                                    The base year considered for the report is 2013
                                                     The historical years considered for the report were 2012 and the years
        Historical Year
                                                     prior to that
        Years of Projection                          The projected period considered for the report are from 2015 to 2020
                                                     In case of companies for which financial data was not available for the
        Base Year (company profile)
                                                     base year, the year prior to it was considered
                                                     The period considered for the study of the competitive landscape is from
        Study Period (competitive landscape)
                                                     January 2012 to March 2015

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       1.4         CURRENCY & PRICING
       The pricing of the systems considered in this study for market revenue estimates have been measured at
       both, the manufacturer and end-user levels in order to calculate average selling prices. The currency
       considered in this study to measure the market uniformly at each level is U.S. dollars. The base year for
       currency conversion considered is 2014. Inflation is not part of the pricing as the aggregate inflation effect
       of all the currencies will nullify the inflation effect of each currency in the long-run.

                 For companies reporting their revenue in U.S. dollars, the revenue was taken from their annual
                  reports
                 For companies that reported their revenue in other currencies, an average annual currency
                  conversion rate was used for the particular year, to convert the value to U.S. dollars

       1.5         DISTRIBUTION CHANNEL PARTICIPANTS
       In the shooting ranges market, the direct distribution channel is preferred. This is because it is sold as a
       unit to the end users. It may or may not require direct involvement of the manufacturers in the supply
       chain. Shooting range systems needs integration and configuration in training and simulation platforms.
       This is directly carried out by the manufacturers at the buyers’ end.

       1.6         LIMITATIONS
       The following limitations were faced during the research study on the shooting ranges market:

               PARAMETERS                              DESCRIPTION

                                                      Some companies in this market are privately-owned and
                                                      their revenues are not available in the public domain.
                        Revenue of Market Players
                                                      Hence, market revenue of those companies are not
                                                      included in the report.

                                                      Limited positive response was received from primaries in
                                                      the Middle East and African regions. Some primaries
                                                      were reluctant to share quantitative information and their
                           Primary Interviews         sales volume data. In such cases, the geographic market
                                                      size was derived on the basis of weightages assigned to
                                                      these markets based on the qualitative insights from
                                                      global industry experts.

                                                      There is lack of a well-established government database
                                                      for the shooting ranges market, which could have offered
                          Government Database
                                                      more concrete information about the current market
                                                      scenario.

       However, to overcome the limitations and maintain effectiveness of the research study, several strategic
       approaches and recommendations, along with qualitative information from industry experts have been
       utilized to estimate the market size and market share.

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       1.7        STAKEHOLDERS
                 Shooting range manufacturers
                 Component provides
                 Software providers
                 System integrators
                 Original Equipment Manufacturers (OEMs)
                 Maintenance providers
                 Regulatory bodies
                 Department of Defense
                 Homeland Security Agencies

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       2           RESEARCH METHODOLOGY

       This research study involved the usage of extensive secondary sources, directories, and databases such as
       Hoovers, Bloomberg BusinessWeek, and Factiva to identify and collect relevant information about this
       market. The primary sources include experts from the defense and civil industry, as well as preferred
       suppliers, manufacturers, solution providers, technology developers, alliances, and organizations related to
       all these segments of the industry’s value-chain. All primary sources have been interviewed to obtain and
       verify critical qualitative and quantitative information, as well as to assess future prospects of the market.
       A deductive approach also known as the ‘top-down’ approach has also been used to forecast segments in
       the market.

       The following figure illustrates the market research methodology applied in this report for the shooting
       ranges market.

       FIGURE 2          RESEARCH DESIGN

           HISTORICAL DATA              MARKET SHARE ANALYSIS                     REGULATORY LANDSCAPE                        COMPETITIVE LANDSCAPE
           FOR THE SHOOTING
           RANGES MARKET                       SHOOTING RANGES: SUPPLY & VALUE CHAIN ANALYSIS                               GEOGRAPHIC USAGE PATTERN

                                 MARKET DRIVERS:                                      MARKET RESTRAINTS:                MARKET OPPORTUNITIES:
                                • Increasing demand for enhanced                      • Less investment by              • Retrofit old ranges
                                  training                                              ministry of defense on
           INFLUENCING                                                                  shooting range
                                                                                                                        • Integrating ranges with other
                                • Cost-effectiveness of virtual training                                                  training systems
           FACTORS              • Technological advancements
                                                                                        simulation and training
           (Market Trends and                                                         • Increase in cost of live
           Dynamics)                                                                    training systems

                                CHALLENGES:                                           INDUSTRY TRENDS:
                                • Installation of shooting houses                     • Growing demand for Location of Miss and Hit (LOMAH) system
                                • Environmental constraints                           • Advancement in the design of smart targets
                                                                                      • Use of wireless control systems

                                • CONTRACTS: More than 28 contracts in the last five years
                                • DEVELOPMENTS: More than 10 product developments in the last five years

                                                                 Market Size & Forecast:
                                Historical Data of the Market    •   by Product
               FORECAST                                          •   by Application                                Arrival at the market size, share, and CAGR
                                                                 •   by Geography                                         of the shooting ranges market
                                 Impact Analysis of Market
                                          Trends

       2.1.1             SECONDARY DATA
       The market share of companies were arrived at on the basis of secondary data made available through
       paid and unpaid sources and by analyzing product portfolios of the major companies and rating them on
       the basis of performance and quality. These data points were further validated by primary sources.

       The secondary sources referred to for this research study included government sources, such as the
       Department of Defense (DoD) and Department of Army; corporate filings (such as annual reports, investor
       presentations, and financial statements); and business associations. Secondary research was mainly used
       to obtain key information about the industry supply chain, the market monetary chain, the total pool of key

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       players, market classification, and segmentation according to industry trends at a country level in the
       region-wise market, and key developments from market-oriented perspectives The secondary data was
       collected and analyzed to arrive at the overall market size, which was further validated by primary sources.

       2.1.2            KEY DATA TAKEN FROM SECONDARY SOURCES
               PARAMETERS                             SECONDARY SOURCE

                                                         •   Company Financials
                                                         •   Magazines
                                                         •   Journals
                             Market Size
                                                         •   Press Releases
                                                         •   Paid Databases
                                                         •   The MarketsandMarkets Data Repository

                                                         •   Annual Reports
                                                         •   Company Websites
                        Revenue of Companies
                                                         •   Public Databases
                                                         •   The MarketsandMarkets Data Repository

                                                         •   Company Websites
                        Qualitative Information          •   Annual Reports
                           (Market Dynamics,
                             Market Trends)
                                                         •   Press Releases
                                                         •   The MarketsandMarkets Data Repository

       2.1.3            PRIMARY DATA
       Extensive primary research was conducted after having acquired information regarding the shooting
       ranges market scenario through secondary research. Several primary interviews were conducted with
       market experts from both, the demand and supply sides, across five regions: North America, Europe, Asia-
       Pacific, the Middle East, and RoW (Latin America and Africa). Approximately XX% and XX% primary
       interviews were conducted with the demand and supply sides, respectively. This primary data was collected
       through questionnaires, mails, in-person interviews, and telephonic interviews.

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       2.1.4                  KEY DATA FROM PRIMAR Y SOURCES
               PARAMETERS                                                                                            KEY DATA

                                                        Overall market and sub-
                                                                                                                      The shooting ranges market, by region –
                                                         segments in 2013
                  Geographic                                                                                           North America, Europe, Asia-Pacific, the
                     Split                              CAGR of each region in the                                    Middle-East, and RoW
                                                         forecast period
                                                         (2015 – 2020)

                                                                                                                      The shooting ranges market
                                                        Global market size for the
                                                                                                                      The shooting ranges market, by sub-
                    Global                               year 2013
                                                                                                                       segment
                  Market Size                           CAGR for the forecast
                                                                                                                      The shooting ranges market, by product and
                                                         period (2015 – 2020)                                          application

                                                                                                                      Shooting ranges market, by application
                                                        Application (Civil, Military)
                       Market                                                                                         Shooting ranges market, by product
                                                        Products (Indoor, Outdoor)
                        Split                                                                                         Shooting ranges market, by region
                                                        Region

       2.1.4.1                   Key Industry Insights

                                                                              “    The shooting range simulation systems can be
                                                                        more efficient due to the use of laser based weapons rather than live
                                                                                                                                 “
                                                                          fired weapons. The safety procedures for qualifying the people
                                                                                        with laser based simulation ranges is
                                                                                    easier and more scalable for the instructors.

                                                                                                                              Jim Ramos (BDM Ti Corporation)

                           “      The growing demand for shooting ranges
                       by the US Federal agencies and the law enforcement agencies
                 to provide not only qualification but judgmental and in-depth situational
                     training to their personnel serves as a major driver for this market.
                                                                                   “                                                                “     The shooting range firearms
                                                                                                                                         simulators were originally designed for scenario based/use
                                                                                                                                   of force training with an idea that the people that need to work in public
                                                                                                                                   safety need to be trained to in the most realistic scenario that they might
               Additionally, the rising threat from global instability and insurgent activities is                               face in a real-life situation. Presently, a key factor to drive this market is the
                 also driving the defense organizations to invest in training, thus shooting                                      growing consideration for using laser based simulation to qualify police or
                               ranges and advanced military training facilities.                                                                                                                “
                                                                                                                                 military personnel on their firearms versus live fire ranges. As time goes on,
                                                                                                                                        the cost of ammunition, the cost to own, rent, borrow or build
                                                                                                                                                   a life fire range becomes more prohibitive.

                           Craig J. Mackey (Vice President, Shooting Range Industries, LLC )
                                                                                                                                                    Mark Schurman (Range Safety Engineer, Superior
                                                                                                                                                                                         Technical Resources)

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       2.1.4.2                Breakdown of Primaries
       FIGURE 3            BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION,
                           & REGION
                   NUMBER OF PRIMARIES: BY COMPANY         NUMBER OF PRIMARIES: BY DESIGNATION              NUMBER OF PRIMARIES: BY REGION

                                                                                                                         5%
                        20%

                                        35%                                             35%
                                                             40%                                              30%
                                                                                                                                       45%

                          45%                                                                                          20%
                                                                          25%

                Tier 1 Companies        Tier 2 Companies
                                                           C Level     Director Level         Others   North America   Europe   Asia-Pacific   RoW
                Tier 3 Companies

       Note: *Others include sales managers, marketing managers, and product managers
       Tier 1 – OEMs; Tier 2 – System Integrators; Tier 3 – Component Suppliers

       2.2           FACTOR ANALYSIS

       2.2.1               INTRODUCTION
       The description and analysis of a market in this deliverable define the structure and restrictions of the
       potential market analysis through supply-and demand-side factors. In this background, it is vital to discuss
       and define these factors in order to comprehend the mechanism of the inference obtaining processes,
       which include analysis of the demand-side drivers and the factors influencing the creation side or supply
       side in the studied market. The analysis of the studied market and the estimations of the market sizes and
       their growth patterns depend on factors such as the political environment, the overall economic and
       market conditions that include, but are not limited to historical trends, seasonal effects, or business cycles.

       For this report, statistical/quantitative techniques were used to estimate the impact of demand- and
       supply-side variables to arrive at the market size numbers of the forecast period. Statistical techniques
       were used to primarily understand the correlation of the demand and supply variables with the studied
       market, and assign weightages to these variables to develop a model for forecasting market numbers.
       Wherever such analyses were not feasible due to a lack of availability of data and other
       statistical/quantitative constraints, inferences were made using judgmental forecasting techniques.

       The key demand- and supply-side variables that were considered in the analysis include the following:

                   Demand-side indicators

                          Civil activities requiring licensing
                          Cold wars, territorial disputes, and political conflicts
                   Supply-side indicators

                          Physical characteristics at ranges; risks and benefits associated with range operations

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       The estimation, however, assumes that the regions studied will remain economically stable and do not
       factor in any significant dip or upturn in economic growth of the studies regions/countries.

       2.2.2             DEMAND-SIDE INDICATORS
       2.2.2.1             Civil Activities Requiring Licensing
       Many countries require licensing for activities that relate to firearms and ammunition. Such activities
       include selling firearms and ammunition by/through licensed dealers, as well as acquiring, possessing,
       owning, using, carrying, handling, trading, repairing, manufacturing, distributing, transporting, importing
       and exporting, training, storing, collecting, and disposing of firearms and ammunition.

       The following table lists the miscellaneous requirements for civilian licenses in some countries surveyed:

      TABLE 1        CIVIL ACTIVITIES REQUIRING LICENSING, BY COUNTRY

       The table below presents the list of countries that require licensing for civil activities involving firearms and
       ammunition:

                                                                  Criminal History                             Training/Testing
          Country               Recognized Reasons                                      Health Requirements
                                                                   Requirements                                 Requirements
                        Genuine reason, which includes
                        sports,               recreational
                        shooting/hunting, collecting, and     Fit and proper person
                        occupational       requirements.      test; no convictions      Mental/physical
        Australia                                                                                             Safety course
                                                              for violent offenses in   fitness
                        Ammunition only provided to
                                                              past 5 years
                        license-holders
                        Self-defense excluded
                                                              Submission of
                        Actual need for acquiring firearm;    records indicating no
                                                                                        Evidence of
                        ammunition must correspond to         prior criminal                                  Evidence of
        Brazil                                                                          psychological
                        caliber of registered gun and         activities, police                              technical ability
                                                                                        ability
                        quantity requirements                 investigation, or
                                                              criminal prosecution
                        For     restricted   firearms    or
                        prohibited handguns, must show
                                                                                        Mental-health
                        need for use in connection with       Criminal and                                    Safety tests
                                                                                        background
        Canada          lawful profession or occupation; no   domestic-violence                               depending on
                                                                                        check, including
                        such requirements for ordinary        background checks                               type of weapon
                                                                                        addiction
                        shotguns and rifles, such as those
                        used for hunting
                                                                                        No substance
                        Licenses issued to hunters,           No criminal record,
                                                                                        addiction, mental     Knowledge of
                        marksmen, shooting- association       membership in
                                                                                        illness, or           weapons
                                                              criminal or terrorist
        Germany         members, endangered persons,                                    feeblemindedness      technology and
                                                              organization, or
                        collectors, experts, producers and                              Psychiatric           law; expertise in
                                                              justified suspicion of
                        dealers, and private security firms                             evaluation if         use of firearms
                                                              potential violation
                                                                                        under 25
                                                              No sentence of more       References
                        Good reason to possess requested      than three years’         regarding mental
        United          firearm ( profession, sport or        imprisonment or           state, home life,
        Kingdom         recreation, or shooting vermin)       preventive detention;     and attitude
                        Self-defense not a good reason        those receiving           toward guns;
                                                              sentences of three        medical release

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                                                               months to three years      form; access to
                                                               cannot possess             firearms by unfit
                                                               firearms or                family members
                                                               ammunition for a           or associates may
                                                               period of five years       disqualify
                                                               after date of release      applicant
                                                                                          Mental health
                                                                                          care providers
                                                               Conviction for violent     report to Ministry
                                                                                                                 Certified
                        Proof of need based on place of        offense (including         of Health those
                                                                                                                 appropriate
                                                               domestic violence)         patients capable
                        residence     or     employment,                                                         training for each
        Israel                                                 may result in license      of endangering
                        occupation, or service in elite IDF                                                      licensed firearm
                                                               cancellation/              themselves or
                        reserve units                                                                            at licensed
                                                               ineligibility for period   others; report may
                                                                                                                 shooting ranges
                                                               defined by court           be forwarded to
                                                                                          permitting
                                                                                          authorities
                        Specific need (hunters; target         Passage of 5 years         No mental illness      Classes on
                        shooters;     athletes;    dealers;    since completing           or other specified     firearms laws
                        manufacturers;           exporters;    sentence of                health problems,       and regulations;
        Japan           collectors;      and       specific    imprisonment; no           dementia,              skill test or
                        businesses, including lifesaving,      previous warnings or       alcohol/drug           completion of
                        slaughterhouses, fisheries, testing    restraining orders for     addiction, or          shooting classes
                        or research, and construction)         domestic violence          feeblemindedness

                                                                                          Physical/mental
        Russian         Self-defense, hunting, sports,         Criminal background        ability; no history
                                                                                                                 Training and test
        Federation      receiving guns as gift/inheritance     check                      of substance
                                                                                          abuse
        European
                                                               Conviction for violent,
        Union
                                                               intentional crime may      Must not be a
        [Minimum        “Good cause” as determined by                                                            [not regulated by
                                                               indicate propensity        danger to self or
        Standards       individual EU Members                                                                    EU Directives]
                                                               for posing danger to       the public
        for EU
                                                               self or society
        Members]
                                                                                          Stable mental
                                                                                          condition; no
                        Collectors and museums; hunting                                   substance abuse
                        or sport-shooting organizations or     No conviction within 5     problem or             Training and test
                        ranges; providers of training,         years immediately          proclivity for         on safe and
                        including use of firearms in           preceding the              violence, including    efficient use of
        South                                                  application for certain    domestic abuse         firearms, as well
                        theatrical, film, or TV productions;
        Africa                                                 crimes related to          allegations or         as applicable
                        game ranchers and hunting-
                                                               violence, dishonesty,      being laid off from    training and tests
                        business owners Self-defense only
                                                               recklessness, or           job; competency        for specific
                        if it cannot be accomplished by        instability                certificate            licenses
                        other means                                                       indicating
                                                                                          applicant is fit and
                                                                                          proper person

       Note: Secondary Sources, United States Environmental Protection Agency, and MarketsandMarkets analysis

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       2.2.2.2              Cold Wars, Territorial Disputes, and Political Conflicts
       To assess the impact of increasing disputes and conflicts across the globe, a sample set of 10 major
       countries in each region were selected for analysis. Data pertaining to these countries include the number
       of conflicts, amount of ammunitions used, number of firearms imported and exported, and total arms
       manufactured during the ongoing conflicts. Then, current statistics of each of the aforementioned
       parameter were studied to ascertain the future impact of these factors by 2020. The expected changes in
       the frequency of these parameters were determined using multiple sources such as Annual Firearms
       Manufacturing and Export Report (AFMER), Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF),
       U.S. Department of Defense (DoD), Stockholm International Peace Research Institute (SIPRI), and
       Federation of American Scientists (FAS) among others.

       The increase in worldwide conflicts was used to project the increase in demand for firearms training and
       virtual simulation across the globe. Conflicts and armed violence have led to increase in demand for
       shooting ranges and live, virtual, and constructive training. Factors such as political and socio-economic
       instability have led to a rise in demand for efficient training of military forces. The shooting ranges market
       is witnessing a rise in demand for indoor and outdoor products to prepare soldiers for mirror-like combat
       situations.

       Territorial disputes and political conflicts provide an opportunity for the shooting ranges market to flourish
       as military forces globally are investing to maintain combat efficiency.

       FIGURE 4          NUMBER OF CONFLICTS BY INTENSITY ACROSS VARIOUS REGIONS, 2013

                                                            18
                            Africa                                                   42
                                                                               37

                                                      12
                The Middle East                                           33
                                                                   26

                                                 8                                                                 High Intensity
                     Asia-Pacific                                                              56
                                                                                                        65         Medium Intensity

                                         1
                                                                                                                   Low Intensity
                          Europe                         15
                                                                                          47

                                             6
                        Americas                                         30
                                                            18

                                     0        10           20       30         40         50   60        70

       Note: Secondary Sources, U.S. DoD, Bureau of Alcohol, Tobacco, Firearms, and Explosives, and MarketsandMarkets analysis

       2.2.3             SUPPLY-SIDE INDICATORS
       2.2.3.1              Physical characteristics at ranges; risks and benefits associated
                            with range operations
       Physical characteristics of ranges, relative to lead management issues, are listed below:

                                                                                                    Potential Benefits in Preventing/Managing
         Physical Characteristics                    Potential Risk to Environment
                                                                                                                 Contamination
                                            Acidic soils contribute to lead dissolution              May impede percolation of water through
        Clay, acidic soils                                                                             contaminated soil
                                            It contributes to an increase in the potential

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                                          for lead contamination                             Binds free lead ions
                                         May increase run-off                               May benefit growth of vegetative covers
                                         Difficult to reclaim lead via sifting/raking

                                         Contaminated     rainwater     can   easily
                                          percolate through soil and groundwater             Alkaline soils may inhibit lead dissolution
        Sandy, alkaline soils
                                         Extremely alkaline soil will not support           Easier to reclaim lead via sifting/raking
                                          vegetation

                                         Acidic soils contribute to lead dissolution
                                          increasing    the    potential for lead
        Sandy, acidic soils               contamination                                      Easier to reclaim lead via sifting/raking
                                         Contaminated rainwater percolates quickly
                                          through sandy soils

                                         May promote off-site drainage or drainage
                                          to on-site surface water bodies
        Steep rolling terrain                                                                None
                                         Can impede reclamation of expended shot
                                          via raking

                                         Rainwater may pond in areas promoting              Expended shot easily recovered
        Flat Terrain                      lead dissolution and contamination                 Off-site drainage minimized

                                         May impede lead reclamation activities
                                          making equipment difficult to maneuver
        Wooded areas                                                                         None
                                         May provide habitat for wildlife - increasing
                                          exposure to lead

                                         Very high potential for contamination when
                                          shot fall zone is located over or adjacent to
        On-site or                        water;     increased    wildlife   exposure;
                                          increased lead dissolution. This is not an
        contiguous surface                                                                   None
                                          option for successful range location and
        water bodies                      may be more likely subject to litigation
                                          and/or governmental action if lead is
                                          deposited into water bodies

                                                                                             Ground covers slow down surface water
                                         Lead may be absorbed into grasses and               run on and run-off
        Vegetation                        other wildlife food sources                        Some vegetation can extract lead ions
                                                                                              from the soils

       Note: Secondary Sources, United States Environmental Protection Agency, and MarketsandMarkets Analysis

       2.3           MARKET SIZE ESTIMATION
       The top-down and bottom-up approaches were used to estimate and validate the size of the shooting
       ranges market.

       The research methodology used to estimate the market size also includes the following details:

       Key players in the industry and markets have been identified through secondary research, and their market
       value was determined through primary and secondary research. These include a study of the annual and
       financial reports of top market players and extensive interviews from leaders such as CEOs, directors, and
       marketing executives.

       All the percentage shares, splits, and breakdowns were determined using secondary sources, and were
       verified through primary sources. All the possible parameters that affect the markets covered in this
       research study have been accounted for, viewed in extensive detail, verified through primary research, and
       analyzed to procure the final quantitative and qualitative data.

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       2.3.1            BOTTOM-UP APPROACH
       The bottom-up approach was employed to arrive at the overall size of the shooting ranges market from the
       revenue of key players and their share in the market. Calculations based on the revenue of key players
       identified in the market led to the overall market size.

       The bottom-up approach was also implemented for data extracted from secondary research to validate the
       market segment revenues obtained.

       Market share was then estimated for each company to verify the revenue share used earlier in the bottom-
       up approach. With the data triangulation procedure and validation of data through primaries, the overall
       parent market size and each individual market size were determined and confirmed.

       The following figures provide an illustrative representation of the overall market size estimation process
       employed for the purpose of this study.

       FIGURE 5         MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH

                                                                         Total Market Size ($Million)
                                            Global
                                                                         North America (Volume of product segment 1 x ASP) +
                                            Market                       Europe (Volume of product segment 2 x ASP) + …
                                             Size

                                         Summation of
                                      A x B of all Regions

                                                                                       PRIMARY SOURCES:
                                  Average Selling Price (ASP)                          Demand & Supply Side Experts
                                  per Region for Each Type of
                                     Product Segment (B)

                                                                                       SECONDARY SOURCES :
                                                                                       Annual Reports, Presentations,
                              Geographical Split to the Number of                      Press Releases, Journals, Paid
                                        Units Sold (A)                                 Databases, and
                                                                                       MarketsandMarkets Repository

                        Number of Units Sold for Each Product Segment,
                                           Globally

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       2.3.2            TOP-DOWN APPROACH
       In the top-down approach, the overall market size was used to estimate the size of individual markets
       (mentioned in the market segmentation) through percentage splits from secondary and primary research.
       To calculate the size of each specific market segment, the most appropriate immediate parent market size
       was used to implement the top-down approach.

       FIGURE 6         MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH

                        Total Shooting Range Market ($Million)      Global market size is validated through primaries
                                                                           (Demand & Supply Side Experts)

                              Percent Split for the Market
                             Segments of Shooting Range
                                        Market
                                                                    PRIMARY SOURCES:
                                                                    Demand &and Supply Side Experts
                                  Geographical Split

                                                                    SECONDARY SOURCES:
                                    Regional- and                   Annual Reports, Presentations,
                                    Country-wise                    Company Websites,Press Release,
                                     Market for                     Journals, Paid Databases, Press
                                        Each                        Releases, and MarketsandMarkets
                                        Sub-                        Repository
                                      segment

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       2.4                  MARKET BREAKDOWN & DATA TRIANGULATION
       After arriving at the overall market size from the market size estimation process explained above, the total
       market was split into several segments and sub-segments. To complete the overall market engineering
       process, and to arrive at exact statistics for the market segments and sub-segments, the data triangulation
       and market breakdown procedures explained below were implemented, wherever applicable.

       The following figure depicts the market breakdown structure and the data triangulation procedure
       implemented in the market engineering process to draft this report.

       FIGURE 7                   DATA TRIANGULATION METHODOLOGY

                              PRIMARY SOURCES                                                                       SECONDARY SOURCES

                         Interviews with:
           DEMAND SIDE

                                                                                                              Annual Reports, Presentations,
                         • Chief information officers
                                                                                                              Websites and Press Release
                         • Purchase managers in                                                               of top players, News Articles,
                           aerospace & defense                                                                Journals, and Paid Databases
                           organizations
                                                                             MnM KNOW*

                         Interviews with:
                         • CEOs                                                  DATA
                                                                  PRIMARY   TRIANGULATION
                         • Vice presidents                        SOURCE
           SUPPLY SIDE

                         • Marketing directors                                                                 Homeland Security Agencies,
                                                                                            SECONDARY
                         • Technology and innovation                                         SOURCE            Department of Defense (DoD),
                           directors and related key                                                          Regulatory Bodies, Department of
                           executives from various key                                                                     Army
                           companies and
                           organizations operating in
                           the Shooting Ranges
                           market                                       INFORMATION SOURCED

                                                                                                                       Market Size (2013)
                                                                                             Opportunities/
                                  Key Players            Competitive Landscape                                         and Market Share
                                                                                              Challenges
                                                                                                                            (2013)

                                             Drivers/Restraints               Forecasting               Geographical Analysis

       MnM KNOW* stands for MarketsandMarkets’ 'Knowledge Asset Management' framework. In this context, it stands for the existing
       market research knowledge repository of over 5000 granular markets, our flagship competitive intelligence and market research
       platform "RT", subject matter experts, and independent consultants. MnM KNOW acts as an independent source that helps us
       validate information gathered from primary and secondary sources .

       The figure above demonstrates the core data triangulation procedure used in this report for every market,
       sub-market, and sub-segment. The percentage split-ups of various major market segments (by application,
       by product, and region) were used to arrive at their market sizes.

       Data validation was done by data derivation from various aspects of the respective market segments and
       market aspects.

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       2.5            ASSUMPTIONS
             PARAMETERS                              ASSUMPTIONS

                                                     For niche market segments, where accurate data of the respective time line was not
                                                     available, the data was calculated using trend line analysis. In some instances, where
                    Niche Market Segments            mathematical and statistical models could not be applied to arrive at the number,
                                                     generalization of specific trends pertaining to that particular market was used.

                                                     The Average Selling Prices (ASPs), wherever applied, were calculated using suitable
                                                     statistical and mathematical methods, considering external qualitative factors that affect
                   Average Selling Price (ASP)
                                                     the prices. All the calculations across tables have been made considering the finalized
                                                     ASPs.

                                                     The qualitative analysis from the quantitative data was arrived at based on the
                                                     understanding of the market and its trends by a team of experts involved in drafting this
                      Qualitative Analysis
                                                     report.

                                                     All market segments and sub-market segments listed in this report through various forms
                       Mutually exclusive            of classifications are considered to be mutually exclusive of each other.
                         classification

                                                     The global economy has a direct impact on any market in the aerospace & defense
                        Global Economic              industry, including defense budget cuts. Downturns and economic collapses were
                           Downturns                 considered while forecasting markets in this study.

                                                     The market share analysis in the competitive landscape is based on the analysis of the
                                                     experts at MarketsandMarkets, based on calculations from the financials, product
                         Market Share
                                                     portfolios, and other qualitative information available publicly and shared through primary
                                                     research interviews by key players.

       Note: The market values have been rounded off till the second decimal. Due to this, there may be a slight difference in the actual
       total and the total mentioned in table.

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