The US Guns and Ammunition Market Research Report (2024-30) by MarkNtel Advisors offers an in-depth analysis of market characteristics, sizing, estimates, and growth through segmentation, regional breakdowns, and country-specific insights. It also delves into the competitive landscape, detailing market shares and strategies crucial in the industry. This comprehensive exploration provides a 360° view and insights, emphasizing key outcomes in the market.
The major competitors in the US Guns and Ammunition Industry, are 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.
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According to the research study, the US Guns and Ammunition Market is projected to record a growth rate or compound annual growth rate (CAGR) of around 2.3% in the forecast period (2024-30). The increase in demand for guns and ammunition in the US can be attributed to a heightened awareness of personal safety and a growing inclination toward self-defense. The country is witnessing a surge in frequent mass shootings, often linked to factors such as mental health issues and social alienation.
In response to the perceived threat of mass shootings, individuals are increasingly acquiring guns as a precautionary measure to protect themselves and their communities. This has significantly contributed to the market’s expansion in recent years. Furthermore, extensive media coverage of mass shootings and their aftermath plays a role in fostering a sense of vulnerability, influencing public perception, and shaping attitudes toward firearm ownership. This, in turn, contributes to the continued growth of the market.
Additionally, active participation in NATO missions abroad is generating substantial demand for a variety of ammunition types. Therefore, these factors collectively contribute to the anticipated development and growth of the US Guns and Ammunition Market in the upcoming years.
Introduction of Smart Gun is a Key Trend in the US Guns and Ammunition Market
Gun & ammunition manufacturers, including BioFire, Ammo Inc., FN Herstal, and others, are incorporating smart technologies such as biometric recognition and RFID technology into their products. For instance, in 2023, BioFire introduced ‘smart guns’ that utilize biometric identification, allowing only authorized individuals to fire.
The integration of biometric and RFID technologies not only adds advanced features to firearms but also enhances safety measures. This results in an increased perception of safety among potential buyers. Consequently, individuals who may have been hesitant due to safety concerns are now drawn to these advanced features, contributing to the expansion of the US Guns and Ammunition Market.
Highlighting the Market Segmentations
- By Type (Guns and Ammunition)
- By Lethality (Non-Lethal and Lethal)
- By Application (Defense (Military Operation & Law Enforcement) and Security Services (Close Protection Services, Event Security, Secure Transportation, and Others (Industrial Security, Private Investigation, etc.)) and Civilians (Self Defense, Sport Shooting, and Hunting))
Lethal Weapons is anticipated to capture a significant share of the US Guns and Ammunition Market in the projected years. This is due to the rise in high-profile incidents of school shootings & other violent occurrences that have heightened safety concerns. These growing tragic events create a sense of vulnerability within communities, prompting a call for measures to enhance security & protect students. As a result, schools in the US are increasingly hiring security staff carrying firearms to tighten their security measures.
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