Guns & Ammunition Manufacturing in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: September 2024
NAICS 33299aRevenue
$15.8bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
45,657
Businesses
603
Wages
$X.Xbn
Guns & Ammunition Manufacturing in the US industry analysis
The gun and ammunition industry experienced a notable surge in growth initially due to the COVID-19 pandemic, with sales skyrocketing in 2020 and 2021. This was largely driven by the widespread uncertainty brought about by lockdowns and social unrest. The heightened sense of insecurity led many consumers to purchase firearms, resulting in substantial revenue gains for the industry. However, by the latter part of this period, the industry's revenue began to decline as consumer sentiment shifted and the market reached a saturation point in gun ownership. This downward trend continued into 2023 and is expected to persist into 2024, reflecting a significant drop in firearm background checks during this time. Overall, industry revenue is expected to decline at a CAGR of 1.9% to reach $15.8 billion in 2024, which includes a projected 7.4% decline in 2024 alone.
Trends and Insights
- The pandemic and social anxiety in 2020 triggered a surge in gun sales. Following the onset of the pandemic and during significant societal stress from various factors, individuals turned to firearm purchases fueled by feelings of uncertainty.
- Cultural, social and economic factors influence demand for small arms. Factors like crime rate, urbanization and cultural aspects reflect the complex interplay of external influences on firearm sales dynamics.
- Manufacturers locate near densely populated areas and ports. This makes it easier to reach downstream markets and is favorable for international trade.
- Fluctuations in exchange rates affect the pricing of imported firearms and ammunition. A weaker US dollar typically makes imports more expensive, benefiting domestic manufacturers, whereas a stronger dollar can have the opposite effect.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has declined at a CAGR of 1.9 % over the past five years, to reach an estimated $15.8bn in 2024.
Trends and Insights
The industry experienced strong growth early in the period due to the impact of pandemic
- The outbreak of the coronavirus pandemic led to a sharp increase in gun sales in 2020. Gun sales spiked in March, following the lockdown, as well as in June, at the peak of the Black Lives Matter protests.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
The industry will benefit from population and economic growth
- Gun ownership rates are projected to remain largely unchanged over the next five years, as gun ownership is tied to cultural and regional factors, which are difficult to change in a short period of time, absent new regulations or economic shocks like the pandemic.
Biggest companies in the Guns & Ammunition Manufacturing in the US
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
General Dynamics Corporation | 2,012.0 | 234.0 | 11.6 | |
Vista Outdoor inc. | 1,524.2 | 217.1 | 14.2 | |
Olin Corporation | 1,405.6 | 217.7 | 15.5 |
To view the market share and analysis for all 18 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Small arms ammunition, Other ammunition and Small arms and machine guns. Small arms ammunition is the largest segment of the Guns & Ammunition Manufacturing in the US.
Trends and Insights
Demand for small arms and machine guns is influenced by cultural, social and economic factors
- Small arms and machine guns include firearms with a maximum bore diameter of 30 mm (or 1.18 inches) or less. Small guns include rifles and shotguns used for individual defense. Machine guns include light, medium and heavy machine guns designed to sustain automatic fire.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Fishing in the US
- Explosives Manufacturing in the US
- Space Vehicle & Missile Manufacturing in the US
Complementors
- Aircraft, Engine & Parts Manufacturing in the US
- Tank & Armored Vehicle Manufacturing in the US
- Sporting Goods Stores in the US
- 3D Printing & Rapid Prototyping Services in the US
International industries
- Weapon & Ammunition Manufacturing in the UK
- Weapons & Ammunition Manufacturing in Germany
- Weapon & Ammunition Manufacturing in Germany
Table of Contents
About this industry
Industry definition
This industry manufactures small weapons (including shotguns, rifles, revolvers, pistols, machine guns and grenade launchers), ammunition, artillery and accessories.
What's included in this industry?
Machine guns manufacturingShotguns and rifles manufacturingHandgun manufacturingGun magazines manufacturingSmall arms ammunition manufacturingAmmunition (except small arms) manufacturingGrenade manufacturingMines manufacturingArtillery and tank ammunition manufacturingHowitzers and man-portable and vehicle installed rockets and rocket launchers manufacturingCompanies
General Dynamics CorporationVista Outdoor inc.Olin CorporationPurchase this report to view all 18 major companies in this industry.
Related Terms
ORDNANCETAMPIONAMMUNITIONIndustry Code
NAICS 332992 - Guns & Ammunition Manufacturing in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
The pandemic and social anxiety in 2020 triggered a surge in gun sales. Following the onset of the pandemic and during significant societal stress from various factors, indiv...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Cultural, social and economic factors influence demand for small arms. Factors like crime rate, urbanization and cultural aspects reflect the complex interplay of external in...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2024
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Manufacturers locate near densely populated areas and ports. This makes it easier to reach downstream markets and is favorable for international trade.
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Fluctuations in exchange rates affect the pricing of imported firearms and ammunition. A weaker US dollar typically makes imports more expensive, benefiting domestic manufact...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
The industry has a relatively low level of concentration. The variety of products developed and the diverse buying markets make it difficult for businesses to secure a substa...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of General Dynamics Corporation's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Vista Outdoor inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Olin Corporation's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for 15 additional companies
Detailed analysis
- Description and key data for General Dynamics Corporation, and factors influencing its performance in the industry
- Description and key data for Vista Outdoor inc., and factors influencing its performance in the industry
- Description and key data for Olin Corporation, and factors influencing its performance in the industry
- Description, key data and performance trends for 15 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
The industry is heavily regulated. Regulations are put in place for environmental protection; the manufacture, sale and purchase of firearms; design features on safety ground...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Manufacturers in the gun and ammunition industry effectively manage cost increases by passing them onto consumers. Due to the inelastic nature of demand, where price changes ...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Guns & Ammunition Manufacturing in the US industry in United States in 2024?
The market size of the Guns & Ammunition Manufacturing in the US industry in United States is $15.8bn in 2024.
How many businesses are there in the Guns & Ammunition Manufacturing in the US industry in 2024?
There are 603 businesses in the Guns & Ammunition Manufacturing in the US industry in United States, which has declined at a CAGR of 0.2 % between 2019 and 2024.
Has the Guns & Ammunition Manufacturing in the US industry in United States grown or declined over the past 5 years?
The market size of the Guns & Ammunition Manufacturing in the US industry in United States has been declining at a CAGR of 1.9 % between 2019 and 2024.
What is the forecast growth of the Guns & Ammunition Manufacturing in the US industry in United States over the next 5 years?
Over the next five years, the Guns & Ammunition Manufacturing in the US industry in United States is expected to grow.
What are the biggest companies in the Guns & Ammunition Manufacturing in the US market in United States?
The biggest companies operating in the Guns & Ammunition Manufacturing market in United States are General Dynamics Corporation, Vista Outdoor inc. and Olin Corporation
What does the Guns & Ammunition Manufacturing in the US in United States include?
Machine guns manufacturing and Shotguns and rifles manufacturing are part of the Guns & Ammunition Manufacturing in the US industry.
Which companies have the highest market share in the Guns & Ammunition Manufacturing in the US in United States?
The company holding the most market share in United States is General Dynamics Corporation.
How competitive is the Guns & Ammunition Manufacturing in the US industry in United States?
The level of competition is moderate and steady in the Guns & Ammunition Manufacturing in the US industry in United States.
