GITNUX MARKETDATA REPORT 2024

Must-Know Firearm Industry Statistics [Latest Report]

Highlights: The Most Important Firearm Industry Statistics

  • 38% of Americans aged 35-54 own a firearm, compared to 26% of those aged 18-34 and 35% of those aged 55 and over.
  • The US gun manufacturing market size is expected to grow by 5.6% from 2018-2023, with a market size reported at $21 billion in 2023.
  • Middle Eastern arms imports grew by 25% from 2016-2020, with Saudi Arabia, Egypt, and Qatar leading the charge.
  • 38% of Americans aged 35-54 own a firearm, compared to 26% of those aged 18-34 and 35% of those aged 55 and over.
  • The average salary for an employee in the firearms industry is between $38,000 and $40,000 USD, with different jobs having relatively similar pay.
  • 11% excise tax is applied to sporting arms and ammunition sales to fund wildlife and habitat conservation initiatives.
  • The global firearms market was valued at approximately USD 6 billion in 2018.
  • Estimated number of civilian-owned firearms in the US reached approximately 393 million in 2017.
  • The global ammunition market is anticipated to reach USD 16.07 billion by 2025.
  • There were approximately 11.4 million firearms manufactured in the United States in 2018.
  • Approximately 5.5 million new firearms were sold in the US in the first six months of 2020.
  • Roughly 21% of the global small arms market is held by the United States.
  • In 2020, there were 39,707 firearm background checks conducted in the US, an all-time high.
  • Sales of firearms fell approximately 6.1% in 2018, when compared to the previous year.
  • In 2018, Brazil was the second-largest exporter of small arms (behind the US), with exports totaling $339 million.
  • Total small arms imports in the United States amounted to around 5.5 million units in 2018.
  • In 2019, there were 26,042 registered firearms manufacturers in the United States.
  • The shotgun and rifle manufacturing market in the US has an estimated worth of $2.30 billion in 2021.
  • In 2020, the state of Illinois had the highest number of firearm background checks in the US, totaling 7.4 million.

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The firearm industry is a major part of the United States economy, with an estimated $15 billion in annual sales. As the industry continues to grow, it’s important to understand the latest trends and statistics. In this blog post, we’ll take a look at the latest firearm industry statistics, including the number of firearms produced, the number of firearms sold, and the types of firearms that are most popular.

We’ll also discuss how the industry is responding to changing consumer demands and the impact of new laws and regulations. Finally, we’ll explore the economic impact of the firearm industry and how it contributes to the overall economy.

Firearm Industry: The Most Important Statistics

The global guns and accessories market size was USD 6.14 billion in 2019 and is projected to reach USD 9.33 billion by 2027, exhibiting a CAGR of 6.15%.
The US is the largest firearm manufacturer and exporter in the world, accounting for 34% of all exports between 2013 and 2017, with Saudi Arabia, UAE, and Australia as its largest clients.
38% of Americans aged 35-54 own a firearm, compared to 26% of those aged 18-34 and 35% of those aged 55 and over.

Firearm Industry Statistics Overview

The global guns and accessories market size was USD 6.14 billion in 2019 and is projected to reach USD 9.33 billion by 2027, exhibiting a CAGR of 6.15%.

This growth is likely to continue in the coming years, indicating a strong and growing market for firearms and related products.

The US gun manufacturing market size is expected to grow by 5.6% from 2018-2023, with a market size reported at $21 billion in 2023.

Thus, the gun industry is a major player in the US economy and is expected to continue to grow.

The US is the largest firearm manufacturer and exporter in the world, accounting for 34% of all exports between 2013 and 2017, with Saudi Arabia, UAE, and Australia as its largest clients.

Russia is the second largest exporter of firearms, selling to 47 countries, with India, China, and Vietnam as its largest clients. It accounted for 22% of all exports, but exports decreased by 7.1% compared to 2008-2012.

India and Saudi Arabia are the two largest importers of major arms, each accounting for 11 percent of the global market, and they mainly purchase their stock from The United States.

The United States thus have a high importance in the global firearms market. But the statistic also highlights the importance of India and Saudi Arabia in the global firearms market, as they are the two largest importers of major arms.

Middle Eastern arms imports grew by 25% from 2016-2020, with Saudi Arabia, Egypt, and Qatar leading the charge.

46% of American men own a firearm compared to 21% of American women, showing a large gender gap in gun ownership.

Therefore, the majority of gun owners are male, which could influence the marketing and production of firearms.

38% of Americans aged 35-54 own a firearm, compared to 26% of those aged 18-34 and 35% of those aged 55 and over.

This shows that the 35-54 age demographic is the most likely to own a firearm, meaning that this demographic is the most likely to purchase firearms and related products..

The average salary for an employee in the firearms industry is between $38,000 and $40,000 USD, with different jobs having relatively similar pay.

This matters because it provides insight into the wages of the 169,523 people employed in the U.S Firearms Industry, helping to inform career decisions and understand the financial implications of working in it.

11% excise tax is applied to sporting arms and ammunition sales to fund wildlife and habitat conservation initiatives.

This tax helps support conservation work, hunter education and recruitment, shooting ranges, and wildlife research, which is important for the sustainability of the firearm industry.

Supplementary Statistics

The global firearms market was valued at approximately USD 6 billion in 2018.

This highlights the sheer magnitude of the industry, and the potential for growth and development within it. It also serves as a reminder of the importance of the industry in terms of its economic and social impact. This statistic is a key indicator of the industry’s current state and its future prospects.

Estimated number of civilian-owned firearms in the US reached approximately 393 million in 2017.

It serves as a reminder of the importance of responsible gun ownership and the need for effective gun control measures to ensure the safety of all citizens.

The global ammunition market is anticipated to reach USD 16.07 billion by 2025.

It shows that the industry is likely to continue to expand in the coming years, as more people purchase firearms and ammunition for recreational and defensive purposes. This could lead to increased profits for firearm manufacturers, as well as more jobs in the industry. Furthermore, it could also lead to increased investment in research and development, which could result in more innovative and effective firearms and ammunition.

There were approximately 11.4 million firearms manufactured in the United States in 2018.

This speaks to the sheer number of firearms produced in the country, and the impact that the industry has on the economy. It also serves as a reminder of the importance of gun safety and responsible gun ownership.

Approximately 5.5 million new firearms were sold in the US in the first six months of 2020.

There is an immense popularity of firearms in the US, and the industry is thriving despite the economic downturn caused by the pandemic. This statistic is a powerful reminder of the importance of the firearm industry in the US and its impact on the economy.

Roughly 21% of the global small arms market is held by the United States.

It addresses the influence of the US in the industry, and the potential for the US to shape the market in the future. It is a reminder of the importance of the US in the global arms trade, and the need to be aware of the implications of its actions.

In 2020, there were 39,707 firearm background checks conducted in the US, an all-time high.

Despite the pandemic, the demand for firearms has not decreased, but rather increased to an all-time high. This is an important statistic to consider when discussing the firearm industry, as it provides insight into the current state of the industry and its potential for growth.

Sales of firearms fell approximately 6.1% in 2018, when compared to the previous year.

Sales of firearms have decreased in the past year, which could be a sign of a shift in the industry. This could be due to a variety of factors, such as changes in legislation, public opinion, or economic conditions. This statistic is an important piece of information for anyone interested in the firearm industry, as it provides insight into the current state of the industry.

In 2018, Brazil was the second-largest exporter of small arms (behind the US), with exports totaling $339 million.

The country is a major player in the global small arms market, with exports totaling a significant amount of money. This highlights the importance of the firearm industry in Brazil and its potential to generate significant economic activity. Furthermore, it also serves as a reminder of the need for effective regulation of the industry to ensure that firearms are not used for illegal activities.

Total small arms imports in the United States amounted to around 5.5 million units in 2018.

This demonstrates the sheer volume of small arms imports that are entering the country, and the potential impact that this could have on the industry. It is a useful insight into the current state of the industry, and can be used to inform decisions about the future of the industry.

In 2019, there were 26,042 registered firearms manufacturers in the United States.

This statistic is a powerful reminder of the importance of the firearm industry in the United States, and the impact it has on the economy and society.

The shotgun and rifle manufacturing market in the US has an estimated worth of $2.30 billion in 2021.

The industry is a major contributor to the US economy, with an estimated worth of $2.30 billion in 2021. This figure is a clear indication of the importance of the firearm industry in the US and its potential for growth in the future.

In 2020, the state of Illinois had the highest number of firearm background checks in the US, totaling 7.4 million.

Conclusion

In conclusion, the firearm industry is an important part of the American economy. It is responsible for providing jobs and revenue for many communities across the country. The industry has seen significant growth in recent years, with sales increasing and the number of gun owners increasing.

While there is still much debate over the safety of firearms, the industry continues to be an important part of the economy and a source of jobs and revenue.

References

1 – https://www.fortunebusinessinsights.com/gun-and-accessories-market-103536

2 – https://blog.gitnux.com/gun-industry-statistics/

3 – https://www.businessinsider.com/top-countries-exporting-weapons-arms-sales-2018-3?r=US&IR=T#1-united-states-10

4 – https://www.businessinsider.com/top-countries-exporting-weapons-arms-sales-2018-3?r=US&IR=T#2-russia-9

5 – https://www.statista.com/statistics/267134/share-of-individual-nations-in-the-import-of-conventional-weapons/

6 – https://ceoworld.biz/2021/06/12/these-are-the-worlds-biggest-importers-of-major-arms/

7 – https://www.statista.com/statistics/623453/gun-ownership-in-the-us-by-gender/

8 – https://www.statista.com/statistics/623409/gun-ownership-in-the-us-by-age/

9 – https://www.zippia.com/advice/firearm-industry-statistics/

10 – https://www.outdoorlife.com/story/guns/gun-ammo-sales-increase-wildlife-conservation-funding/

11 – https://www.globenewswire.com

12 – https://www.ibisworld.com

13 – https://www.grandviewresearch.com

14 – https://www.atf.gov

15 – https://www.statista.com

16 – https://www.smallarmssurvey.org

17 – https://www.cnbc.com

18 – https://www.fbi.gov

FAQs

What is the size of the global firearms industry?

The global firearms industry is estimated to be worth around $8 billion.

What are the main types of firearms?

The main types of firearms are handguns, rifles, shotguns, and submachine guns.

What are the main markets for firearms?

The main markets for firearms are the United States, Europe, and Asia.

What are the main regulations governing the firearms industry?

The main regulations governing the firearms industry are those related to the manufacturing, sale, and possession of firearms.

What are the main trends in the firearms industry?

The main trends in the firearms industry are the development of new technologies, such as 3D printing and smart guns, as well as the increasing demand for civilian firearms.

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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