Firearms Industry is a Now a $49.3 Billion per Year Business

Guns are big money. In the past seven years, the dollars generated by the production and sales of guns and ammo have more than doubled. In fact, total economic impact of the firearms and ammunition industry in the United States increased from $19.1 billion in 2008 to $49.3 billion in 2015, a 158% increase. Meanwhile the total number of gun industry full-time jobs rose from approximately 166,000 to almost 288,000, a 73% increase in that period, according to a report released by the National Shooting Sports Foundation (NSSF), the industry’s trade association. Read NSSF Report HERE.

On a year-over-year basis, the industry’s economic impact rose from $43 billion in 2014 to $49.3 in 2015, a nearly 15 percent increase while total jobs increased from approximately 263,000 to almost 288,000, a 9 percent increase in the same period.

“Our industry is proud to be one of the truly bright spots in our economy as an unprecedented number of Americans have chosen to exercise their fundamental right to keep and bear arms and to safely enjoy the shooting sports,” said Stephen L. Sanetti, NSSF president and CEO. “We have increased our direct workforce by about 21,000 in the last two years alone, adding jobs that pay an average of more than $50,000 in wages and benefits.”

The Firearms and Ammunition Industry Economic Impact Report: 2016 provides a state-by-state breakdown of job numbers, wages and output covering direct, supplier and induced employment, as well as federal excise taxes paid. Access the full report here.

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Tags: Economic Impact, economy, Employment, Gun Industry, Jobs, NSSF