The global firearms market was valued at USD 44.0 Billion in 2025 and is anticipated to reach USD 72.1 Billion by 2034. The market is expected to grow at a CAGR of 5.64% during the forecast period 2026-2034. Growth is driven by concerns over personal safety, demand in defense sectors, increasing recreational use, and advancements in firearm technologies.
Study Assumption Years
- Base Year: 2025
- Historical Years: 2020-2025
- Forecast Period: 2026-2034
Firearms Market Key Takeaways
- Current Market Size: USD 44.0 Billion in 2025
- CAGR: 5.64%
- Forecast Period: 2026-2034
- Growing concerns regarding personal safety and self-defense among civilians drive the market.
- The defense sector is experiencing rising demand due to budgetary increases and modernization efforts.
- Increased participation in recreational and sporting activities, such as target shooting and hunting, supports market growth.
- Government and law enforcement agencies have substantial firearms requirements for maintaining public order.
- Technological advancements, including the integration of IoT, RFID, and biometric technologies, enhance firearm safety and functionality.
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Market Growth Factors
The global firearms market growth is fueled by increasing concerns related to personal safety and self-defense. In the US, for example, violent crime victimization rates and property crimes in 2021 (24.5 and 157.5 out of 1,000 people respectively) have heightened awareness, prompting a rise in firearm ownership. Demographically, 40% of men and 25% of women in the US own guns, with rural ownership surpassing urban areas (47% vs. 20%). This trend is mirrored across ethnicities, with 38% of White Americans owning firearms compared to smaller shares among Black, Hispanic, and Asian populations.
Rising defense budgets globally further stimulate market growth. India's defense allocation for 2023-24 increased 13% to Rs 5.94 lakh crore, with the sector ranking fourth worldwide in firepower. The European Commission also plans to inject 1.5 billion euros to incentivize joint procurement and technology advancements. These investments aim to modernize military capabilities by procuring advanced firearm systems to enhance operational effectiveness.
Growing recreational and sporting activities involving firearms also drive market expansion. Globally, the sports gun market is estimated to reach USD 3.9 Billion by 2032, complemented by a USD 2.3 Billion market for shooting ranges with a projected 7.07% growth during 2024-2032. Increased accessibility and popularity of shooting sports and hunting enhance public engagement, bolstering demand in civilian segments.
Market Segmentation
Breakup by Type:
- Pistol
- Revolver
- Rifle: Represents the largest market share, favored for its accuracy, range, and variations including bolt-action, semi-automatic, and automatic models. Rising recreational hunting and competitive shooting sports enhance its popularity, alongside demand from military and law enforcement for precision and reliability.
- Machinegun
- Others
Breakup by Technology:
- Guided: Holds the largest share, driven by demand for precision and advanced targeting capabilities like smart scopes, laser guidance, and computer-assisted aiming, particularly used by military and law enforcement.
- Unguided
Breakup by Operation:
- Automatic: The leading segment due to rapid-fire capabilities and adoption by military and law enforcement for tactical missions requiring high firepower.
- Semi-automatic
- Manual
Breakup by End Use:
- Military: Dominates the market, driven by extensive weaponry needs to ensure operational preparedness and investments in advanced, precise, and smart firearms.
- Law Enforcement
- Sports
- Hunting
- Self-Defense
- Others
Regional Insights
North America is the largest regional market for firearms, supported by a strong culture of gun ownership and significant demand from civilian and defense sectors. In the US, approximately 40% of adults live in households with guns, including 32% who personally own one. Rural ownership is particularly high at 47%, compared to 30% in suburbs and 20% in urban areas. The region's comprehensive legal frameworks and active sporting communities also bolster the market.
Recent Developments & News
In February 2020, FN America, a US subsidiary of the Herstal Group, secured a USD 119 million contract from the US Department of Defense to supply over 167,000 M4 and M4A1 carbines over five years. In March 2020, Heckler & Koch, Ashburn, was awarded a USD 33 million contract by the US Army Contracting Command to supply Compact Semi-Automatic Sniper Systems and Squad Designated Marksman Rifles, including variants of the M110A1 rifle.
Key Players
- Beretta
- Colt CZ Group
- FN Herstal
- Glock Ges.m.b.H.
- Heckler & Koch (H&K)
- Remington Arms Company
- Sig Sauer
- Smith & Wesson (S&W)
- Sturm
- Ruger & Co., Inc.
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