How Big is the The US Guns and Ammunition Market?

The US Guns and Ammunition Market is estimated to grow at a CAGR of around 2.3% during the forecast period, i.e., 2024-30. The surge in demand for guns & ammunition stems from a heightened awareness of personal safety and a growing desire for self-defense in the US. Concerns regarding rising crime rates, home invasions, and instances of violence have fostered a sense of vulnerability, prompting individuals to seek means of self-protection. This heightened demand has been further intensified by the impact of the COVID-19 pandemic & civil unrest, which contributed to an increased focus on personal safety & self-defense. This turned into the higher adoption of guns & ammunition in the country during 2019-2023.

Market Statistics

  • Market Growth Rate (CAGR): 2.3% from 2024-2030

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The US Guns and Ammunition Market Insight:

Driver-

Surge in Military Spending to Accelerate the Market Growth – In recent years, the US has seen a notable increase in defense spending due to factors like the Russia-Ukraine conflict and geopolitical uncertainties in the Middle East. The decision by the US government to offer military assistance to Ukraine has played a crucial role in the increase, ensuring global stability. Substantial financial aid and support have been directed towards reinforcing the Ukrainian military. According to the Stockholm International Peace Research Institute (SIPRI), US defense spending witnessed a substantial increase of approximately USD71 billion from 2021 to 2022. As a result, there is a heightened demand for firearms and ammunition within the country's defense sector, contributing to the expansion of the US Guns and Ammunition Market.

Furthermore, the escalating challenges posed by China and Russia on the global stage have also become pivotal drivers behind the increased US defense investment in modernization efforts, including gun & ammunition procurement. Thus, the growing investment in military modernization would increase the requirement for advanced guns & ammunition in the forecast period.

 The US Guns and Ammunition Market Segmentation:

The report has segmented the market into the following categories:

By Type

  • Guns- Market Size & Forecast 2019-2030, USD Million
  • Ammunition-Market Size & Forecast 2019-2030, USD Million

By Lethality

  • Non-Lethal-Market Size & Forecast 2019-2030, USD Million
  • Lethal- Market Size & Forecast 2019-2030, USD Million

By Application

  • Defense- Market Size & Forecast 2019-2030, USD Million
    • Military Operation
    • Law Enforcement
  • Security Services- Market Size & Forecast 2019-2030, USD Million
    • Close Protection Services
    • Event Security
    • Secure Transportation
    • Others (Industrial Security, Private Investigation, etc.)
  • Civilians- Market Size & Forecast 2019-2030, USD Million
    • Self Defense
    • Sport Shooting
    • Hunting

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Competitive Landscape:

  • Sig Sauer
  • Smith & Wesson
  • Sturm, Ruger & Co., Inc.
  • Taurus International Manufacturing Inc.
  • Springfield Armory
  • Ammo Inc.
  • Federal Ammunition
  • Hornady
  • FN Herstal
  • Black Hills Ammunition
  •  

The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.

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Key Highlights of the Report:

  • Market Performance (2024-2030)
  • Strategic Recommendations
  • Current, Historical and Future Market Trends
  • Market Drivers and Leading Competitor
  • SWOT Analysis
  • Structure of the Market
  • Comprehensive Mapping and Recent Advancement

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