panoramic sight vs gun-sight

panoramic sight and gun-sight both are nouns.

Word	Noun	Adjective	Verb	Adverb
panoramic sight	Yes	No	No	No
gun-sight	Yes	No	No	No

As nouns, gun-sight is a hypernym of panoramic sight; that is, gun-sight is a word with a broader meaning than panoramic sight:

panoramic sight: gunsight (a telescopic device for an artillery piece) that can be rotated horizontally in a full circle
gun-sight: a sight used for aiming a gun

Other hypernyms of panoramic sight include gunsight.

panoramic sight (noun)	gun-sight (noun)
gunsight (a telescopic device for an artillery piece) that can be rotated horizontally in a full circle	a sight used for aiming a gun