According to MarkNtel Advisors who is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. Recently released a report on US Guns and Ammunition Market - Industry Trends and Forecast to 2030 and provides a comprehensive analysis of current and future market conditions. market research insights offered in this report enhance understanding of market landscape, potential challenges, and strategies to establish a strong brand presence. With detailed market segmentation, in-depth analysis of key players, examination of consumer and supply chain trends, and exploration of new geographic markets, insights presented in this report simplify effective marketing of products and services.
US Guns and Ammunition Market Analysis and Size
US Guns and Ammunition Market is estimated to grow at a CAGR of around 2.3% during forecast period, i.e., 2024-30.
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Some of major players operating in US Guns and Ammunition Market 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.
US Guns and Ammunition Market Growth Driver:
Surge in Military Spending to Accelerate Market Growth – In recent years, US has seen a notable increase in defense spending due to factors like Russia-Ukraine conflict and geopolitical uncertainties in Middle East. decision by US government to offer military assistance to Ukraine has played a crucial role in increase, ensuring global stability. Substantial financial aid and support have been directed towards reinforcing Ukrainian military. According to 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 country's defense sector, contributing to expansion of US Guns and Ammunition Market.
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Market Segment and Geographical Analysis
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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