$80.7 Billion U.S. Firearms Industry — 322% Growth in 14 Years
The total economic impact of the firearm and ammunition industry in the United States increased to $80.73 billion in 2022 from $19.1 billion in 2008, a 322% increase, while the total number of full-time equivalent jobs rose to over 393,696 from approximately 166,000, a 136% increase in that same period, according to a report released by the NSSF, The Firearm Industry Trade Association. READ Full REPORT.
The Firearms and Shooting Sports Industry Now Generates 393,696 Jobs in America
On a year-over-year basis, the industry’s economic impact rose to $80.73 billion in 2022 from $70.52 billion in 2021. Total jobs increased by over 17,877 in the same period, to 396,696 from 375,819. The firearm industry has broader impacts throughout the American economy. The gun industry also generates business for firms not directly related to firearms — creating jobs in industries such as banking, retail, accounting, metalworking, and printing.
Gun Manufacturers and Ammo Makers Now Pay over $7.48 Billion in Taxes
The firearm and ammunition industry paid over $7.48 billion in business taxes, including property, income, and sales-based levies. An additional $1.15 billion was paid in federal excise taxes, which directly contributes to wildlife conservation.
“Our industry’s economic input is undeniably contributing to every state and every community. This milestone achievement of over $80 billion in economic impact proves that the American firearm and ammunition industry is strong,” said Joe Bartozzi, NSSF President and CEO. “Over 4.2 million Americans from all walks of life, for the first time, discovered and exercised their right to lawful firearm owners and safely participate in the recreational shooting sports last year. This growth equals more jobs that add to our local economies, averaging $65,000 in wages and benefits, up from $56,900 reported last year. Since 2008, federal tax payments increased by 266%, Pittman-Robertson excise taxes that support wildlife conservation by 226% and state business taxes by 46%.”
The annual Firearm and Ammunition Industry Economic Impact Report provides a state-by-state breakdown of job numbers, wages and output, as well as federal excise taxes paid. CLICK HERE for Full Report (Printable PDF).
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