Gun Sales in the U.S: Key Statistics that You Need to Know
The United States has a long and enduring relationship with firearms. Guns, which have been woven into the fabric of American society since the country's inception, remain a source of pride for many Americans. Most gun owners regard the right to bear arms as vital to their freedom and necessary for hunting, recreational shooting, or personal safety.
Over the years, sales and the ownership of guns have changed drastically, and to examine the situation and future of this trend, we will have to look at the latest gun sales statistics.
- After reaching record-breaking sales levels in late 2020 and early 2021, the gun market has started declining.
- The worldwide firearms and accessories market was worth $6.14 billion in 2019 and is expected to be worth $9.33 billion by 2027.
- Personal protection ranks #1 on gun owners' list of reasons for owning a gun.
- While Americans are buying more guns, the demographics of gun owners are shifting.
- According to data, there have already been 36,128 gun fatalities in the United States in 2022.
Gun Sales Statistics Based on Ethnicity
While Americans are buying more weapons, the demographics of gun owners are shifting. Between January 2019 and April 2021, 7.5 million Americans purchased weapons for the first time, according to the National Firearms Study.
There is an increase in ethnic diversity among gun owners. Between January 2019 and April 2021, 20% of new gun owners were Hispanic and another 20% were Black.
On the other hand, people who bought weapons but were not new gun owners during that period were predominantly white and male, as are gun owners generally.
Four out of every ten individuals claim they -- or someone in their family -- possess a gun.
Gun Sales Based on Gender Have Seen Significant Changes Over the Years
A survey done in the United States in 2021 found that men were more likely than women to either possess their own gun or live in a home where there were guns. At the same time, 22% of American women owned a firearm, compared to 40% of American men.
Since 2019, there has been a significant increase in female gun ownership. According to the 2021 National Firearms Survey done by Harvard and Northwestern Universities, approximately half of new gun owners were women.
Numbers show that
The Impact of Guns on the Safety of the Citizens Is a Concern
Another year of record gun violence in the United States is heightening local and international attention to the country's comparably poor gun regulations and putting pressure to adopt significant improvements.
According to the Gun Violence Archive, as of Oct. 24, 2022, there have been 36,128 gun fatalities in the United States — 960 of which are categorized as self-defense. In addition, the total number of injuries goes up to 32,203.
Guns surpassed car accidents as the primary cause of mortality among children and adolescents in the United States in 2020. Over the seven months of 2022, 198 children were killed in shootings, and 438 were injured. An increasing number of teenagers have been killed during the same period, with the number going up to 780.
The Increase in Gun Purchases Over the Years has Given Rise to a Number of Theories
In the previous two decades, the gun industry has studied its market and shifted its messaging away from hunting toward offering pistols for personal safety and military-style weaponry aimed mostly at young men. The sales pitch has been incredibly effective based on self-defense and a general sense of fear.
Personal protection is the main reason why people own guns
Personal protection is first on the list of reasons given by gun owners for owning a handgun. Sixty-three percent (63%) of gun owners say they are most likely to own firearms for personal safety or protection.
Other explanations include:
The gun is an antique or a family heirloom
Gun Sales Impact on Economy
The size of the global market for firearms and accessories was $6.14 billion in 2019 and is anticipated to increase to $9.33 billion by 2027, with a CAGR of 6.15%.
Companies in the United States that produce, distribute, and sell sporting firearms, ammunition, and supplies play a significant role in the country's economy. This industry employs 169,523 people and generates an additional 206,296 jobs in supplier and related sectors.
In the United States, this industry provides a significant addition to the workforce, and the sector contributes to the economy as a whole. In 2021, the firearms and ammunition business contributed up to $70.52 billion to the country's overall economic activity.
The economic growth seen by America's firearm and ammunition business in recent years has been astonishing, driven by an unprecedented number of Americans exercising their fundamental right to keep and bear arms.
The Bottom Line
Guns sales in the United States fell slightly in 2021 after a record-breaking year in 2020. Nevertheless, 2021 was the second-highest year for gun sales in the U.S., with around 19 million firearms sold. The industry plays a significant role in the country's economy, providing economic growth and employment opportunities. However, the downside is the increase in gun-related fatalities and mass violence.