Press Release

Guns and Ammunition Sales to Boost Due to Increasing Emphasis on Personal Safety & Self-defense Across the US

The US Guns and Ammunition Market is projected to grow at a CAGR of around 2.3% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. Rising apprehensions about increasing crime rates, home invasions, and incidents of violence have fostered a widespread feeling of vulnerability. This has led individuals to actively pursue methods of self-protection. The heightened demand for self-defense means has been accentuated by the effects of the COVID-19 pandemic and civil unrest, intensifying the emphasis on personal safety. As a result, there has been a significant surge in the adoption of guns and ammunition in the country over the historical period.

Moreover, the US is witnessing a surge in frequent mass shootings, attributed to factors such as mental health issues and social alienation. According to the Federal Investigation Bureau, in 2022, the number of active shooter incidents increased by about 66.7% compared to 2018. In response to the perceived threat posed by mass shootings, individuals are increasingly obtaining guns as a precautionary measure to protect themselves and their communities. This has significantly fueled the expansion of the market in recent years. Furthermore, the media's extensive coverage of mass shootings and their aftermath contributes to a heightened sense of vulnerability, influencing public perception and shaping attitudes towards firearm ownership, thereby contributing to enhancing the US Guns and Ammunition Market size.

Additionally, in the face of persistent geopolitical tensions, the country has heightened its expenditures on cutting-edge weapon systems and ammunition to align with the growing capabilities of China and Russia in military engagements. Moreover, the active involvement in NATO missions overseas is creating significant demand for a variety of ammunition types. These circumstances are anticipated to propel market growth in the forthcoming years, further states the research report, “The US Gun and Ammunition Market Analysis, 2024.”

The US Guns and Ammunition Market Segmentation Analysis

Lethal Segment to Dominate the US Gun and Ammunition Market

Based on the lethality, the market is further bifurcated into Lethal and Non-lethal. Among them, the Lethal segment accounts for the major share of the US Guns and Ammunition Market due to the growing adoption of security services in schools and increasing global terrorism. The surge in high-profile incidents involving school shootings & other violent incidents has elevated safety concerns, resulting in a rising adoption of lethal weapons in recent times. Therefore, these unfortunate incidents contribute to a sense of vulnerability within communities, leading to a request for improved security measures to protect students. Therefore, educational institutions in the United States are increasingly deploying security personnel armed with firearms to enhance security protocols.

Furthermore, the upsurge in global terrorism has also prompted the country to actively participate in the international arms trade. Moreover, playing a pivotal role in this arena, the US is experiencing increased demands for its defense products and weaponry from allied nations seeking to enhance their counterterrorism capabilities in the coming years.

Defense Sector to Account for a Significant Market Share

Based on the application segment, the market is fragmented into defense, security services, and civilians. Among them, the Defense segment holds the prominent share of the US Guns and Ammunition Market. With its growing involvement in global alliances, the country has emerged as a highly desired supplier for partner nations looking to strengthen their military strength by ordering American defense products. Moreover, the increasing geopolitical tensions and the evolving global security threats are expected to drive the market share of advanced firearms and ammunition in the U.S. defense sector in the coming years.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Sig Sauer, Smith & Wesson, Sturm, Roger, & Co. Inc., Taurus International Manufacturing Inc., Springfield Armory, Ammo Inc., Federal Ammunition, Hornady, FN Herstal, Black Hills Ammunition, and Others, are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the US Gun and Ammunition Market?
3. What key factors would propel and impede the industry across the country?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping across the country?
6. How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?