Firearms Market – By Type, By Caliber, By End Use, By Distribution Channel – Global Forecast, 2025 – 2034

Firearms Market Size

The global firearms market size was valued at USD 9.9 billion in 2024 and is estimated to grow at 4.7% CAGR from 2025 to 2034. The rising manufacture and export of weapons is a key factor which reflects the demand for firearms in the market.
 

According to the annual Firearms and Manufacturing Report 2022, the number of firearms manufactured which includes pistols, revolvers, rifles, shotguns, and miscellaneous firearms was more than 13 million units in 2022. According to data from Stockholm International Peace Research Institute (SIPRI) the share of the international arms exporters in the duration between 2020 to 2024 is highest from the U.S. consisting of around 43%.
 

The growing military spending showcases the rising firearms market due to spending on new weapons for the security purposes. According to SIPRI, the global military expenditure reached around USD 2,443 billion in the year 2023, reflecting an increase of 6.8% from 2022. The governments across the world are investing in modernizing their defense forces through the introduction advanced weapons for enhanced security in their respective countries. Rising geopolitical tensions among countries and regional conflicts is leading to the procurement of advanced and high-precisions modular firearms to enhance combat efficiency.
 

To make most out of the growing firearm’s market, manufacturers should focus on advanced, and high-precision firearms to meet rising defense requirements. Leveraging the rising military spending along with catering to growing civilian demand will also strengthen market. Additionally, investing in innovative technologies would enhance product offerings and ensure efficient market growth.
 

Firearms are a mechanical device or a portable barreled weapon with the help of which bullets are launched at a high velocity as an outcome of the expanding gases from a burning propellant. It includes a variety of weapons such as handguns, rifles, shotguns, and others.
 

Firearms Market Trends

• Technological advancements in firearms are gaining traction to enhance security and prevent weapon misuse. To avoid accidental or unauthorized use of weapons, there is growing use of smart guns which use electronic identification. For instance, in April 2023, Biofire Smart Gun incorporated sensors in the guns for identification of its real owner.
   
• The rising trend for small guns showcases potential growth of the firearms market. The launch of new pistols in the market reflects the buyer’s intension for variants in the small guns. For instance, in March 2025, the Springfield Armory expanded its SA-35 line through the launch of two new colorways pistols. One is brown coyote, and the other is tactical gray Cerakote with G10 grip panels. The two pistols have 15-round flush-fit Mec-Gar magazine.
   

Firearms Market Analysis

Based on type, the firearms industry is divided into handguns, rifles, shotguns, machine guns and submachine guns.
 

• The handguns market was valued at USD 3.6 billion in the year 2024. The market witnesses a growing demand for compact, high capacity and concealable handguns. The law enforcement agencies are upgrading the exiting handguns with improved ergonomics and lighter materials. For instance, in February 2025, Springfield Armory launched its SAINT victor 9mm pistol. This shows that the organizations are focusing on the new handguns that are reliable and performance oriented.
   
• The rifle market is expected to grow at a CAGR of 5.5% in the forecast period. The growing sporting and hunting activities has led to a rapid increase in demand for rifles. The civilians are showing interest in rifles for self-defense, sporting, and recreational purposes. For instance, in April 2024, WATCHTOWER Firearms, made a collaboration with Sports South LLC, to expand the market reach and provide type-15 rifles.
   

Based on caliber, the market is bifurcated into small caliber, medium caliber, large caliber, sand shotgun gauges.
 

• The small caliber firearms market was valued at USD 5.8 billion in 2024. The rising demand for compact and high velocity firearms for specific purposes is driving the market. For Instance, a 22LR is used for training and recreational purpose. Also, the military advancement and law enforcement modernization has led to the rise in the small caliber firearms industry.
   
• The large caliber market is expected to grow at a CAGR of 5.1% in the forecast period. The growing need for high precision long rifles for enhanced battlefield performance reflects the growth in the large caliber market. The law enforcement as well as the defense sectors push for the development of large caliber sniper rifles. Thus, providing opportunities for the growth of the firearms involving large caliber.
   

Based on end user, the market is segmented into military, law enforcement agencies, civilians, private security firms, and shooting ranges and clubs.
 

• The military in the firearms market was valued at USD 4.6 billion in the year 2024. The increasing focus of the military for the next-generation assault rifles showcases the market growth. Militaries around the world are ordering bulk quantities of firearms to strengthen their forces. For instance, in February 2025, Indian Army made deal for the induction of 70,000 AK-203 assault rifles.
   
• The civilian market is expected to grow at a CAGR of 6.3% in the forecast period. The civilian firearms market is shaped by the demand for self-protection, recreational shooting, and hunting games. The rising popularity in the modernization of guns for civilians also adds fuel in the market.
   

Based on distribution channel, the market is classified into direct sales (manufacturer to consumer), and indirect sales (distributors to consumers).
 

• Direct sales market for firearms was valued at USD 6.1 billion in the year 2024. Manufacturers are directly tapping customers through Direct-to-consumers (D2C) platforms which are legally permitted.
   
• Indirect Sales in the firearms market is projected to grow at a CAGR of 6.9% in the forecast period. The rise in partnership between the distributors, firearms retailers and sporting gun shops has marked growth in the market. Distributors are reaching to customers through legal framework. This involves full background check of the customer before the purchase is delivered.
   

• In 2024, the U.S. market was valued at USD 3.7 billion. The increase in demand for the possession of firearms has led to growth of the firearms market in the U.S. For instance, the FBI's National Instant Criminal Background Check System (NICS) traced the gun sales in the country and highlighted that in the first four months of the 2024, the American dealers sold nearly 5.5 million firearms. This reflects the market growth in the country.
   
• The firearms market in the UK is anticipated to grow at a CAGR of 4.1% in the forecast period. The rising demand for the rifles in the country highlights the growth of the firearms industry. In September 2023, the UK ministry of defense announced the procurement of 10,000 assault rifles from Defence Equipment & Support (DE&S) under Project Hunter. The contract was made at USD 111.9 million to help British troops in the battlefield.
   
• The Chinese firearms market anticipated to grow and reach a value of USD 1.3 billion by 2034. The Chinese military is upgrading, and the country is investing in next-generation small and smart firearms. China also focuses on self-productions of the firearms.
   
• The firearms market in India is expected to grow at a CAGR of 6.8% in the forecast period. India is actively taking initiatives for designing and developing the firearms. For instance, in January 2024, India’s Defence Research and Development Organisation (DRDO) launched the assault rifle named Ugram for the paramilitary, armed forces and the state police. It has 500 meters effective range and 20-round magazine to effectively target the enemy. This highlights the country growing focus on the national security.
   
• The firearms market in Japan is anticipated to grow at a CAGR of 5.7% in the forecast period. The increasing interest in shooting sports has led to growth of the market in the country. New and advanced shooting guns of various calibers and types are being introduced to the market.
   
• The market for firearms in South Korea is predicted to grow at a CAGR of 5.4% in the forecast period. The firearms business is witnessing steady growth in South Korea as there are strategic collaboration happening to expand the presence in the defense industry. For instance, in February 2025, Hancom Lifecare collaborated with Bretta to leverage the expertise and develop in the field of firearms.
   

Firearms Market Share

The firearms industry is highly fragmented with a mix of global defense contractors, specialized firearms manufacturers and other small to medium firearms producers. Top five companies in the market are Smith & Wesson, Ruger & Co., Inc., SIG Sauer, FN Herstal and Glock Inc. They together constitute a market share of 38% in 2024 in global firearms market. The manufacturer’s focus lies on securing military and law enforcement contracts to gain the bulk orders of the firearms. To remain competitive in the market companies are introducing new products into the market with the collaboration with other organization dealing in the firearms. For instance, in January 2025, Glock Inc. made collaboration with Aimpoint COA to launch Glock 9mm pistols with new red dot optics. The company has a strong focus on providing the exclusive pistols with variety of models such as G43X, G48, G19 Gen5, G47, and the G45.
 

Firearms Market Companies

The top 5 companies operating in the firearms industry include:

• Smith & Wesson
• FN HERSTAL
• Ruger & Co., Inc.
• Glock Inc.
• SIG SAUER
   

Smith & Wesson has a vast product portfolio which offers high quality handguns, rifles, and revolvers. The company has strong attention to reliability and precision. For instance, in November 2023, Smith & Wesson Spec Series pistols featured a new 4.8"/122 mm threaded barrel pistols which come with attached Faxon designed compensator, an optics-cut slide and an OD green Cerakote finish.
 

Ruger & Co., Inc. is popular for its rugged reliability and innovations in firearms design. It specializes in integrating high strength materials with enhanced safety features and simple takedown mechanism. In December 2024, Ruger collaborated with Magpul to introduce RXM 9mm pistols in the firearms market.
 

Firearms Industry News

• In November 2024, Sig Sauer came under partnership with Nibe Group to manufacture assault rifles in India. Sig Sauer made contract to supply around 145,000 assault rifles to the Indian Army.
   
• In January 2025, SK Guns announced the collaboration with Phoenix Trinity Manufacturing. The aim of the partnership was to create a double-stack, commander-sized pistol which was designed for concealed carry.
   
• In June 2023, WATCHTOWER announced the acquisition of F-1 Firearms LLC, to expand its domestic, foreign military and law enforcement markets. The aim is to provide firearms to individuals for self- defense, sporting, and hunting activities.
   

The firearms market research report includes an in-depth coverage of the industry with estimates and forecast in terms of revenue in USD Million from 2021 – 2034 for the following segments:

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Market, By Type

• Handguns     
  • Pistols
  • Revolvers
• Rifles 
  • Semi-automatic rifles
  • Bolt-action rifles
  • Assault rifles
  • Sniper rifles
• Shotguns     
  • Pump-action shotguns
  • Semi-automatic shotguns
  • Double-barrel shotguns
  • Single-shot shotguns
• Machine guns
• Submachine guns   
• Others

Market, By Caliber

• Small Caliber
• Medium Caliber
• Large Caliber
• Shotgun Gauges

Market, By End Use

• Military
• Law enforcement agencies
• civilians
• private security firms
• shooting ranges and clubs

Market, By Distribution Channel

• Direct sales (manufacturer to consumer)
• Indirect sales (distributors to consumers)

The above information is provided for the following regions and countries:

• North America 
  • U.S.
  • Canada
• Europe 
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Netherlands
• Asia Pacific 
  • China
  • India
  • Japan
  • Australia
  • South Korea
• Latin America 
  • Brazil
  • Mexico
  • Argentina
• Middle East and Africa 
  • Saudi Arabia
  • South Africa
  • UAE