Gun manufacturers make about $20 billion per year, according to careers site Zippia. While consumer purchases make up part of gun sales each year, defense contracts with the U.S. military and foreign governments provide the majority of the revenue. Many of the largest gun companies in the world, including Beretta, Sig Sauer, FN Herstal, Remington, Smith & Wesson, and Colt sell arms to the U.S. government.
To determine the world’s largest gun makers, 24/7 Wall St. reviewed data from career site Zippia. Firearms manufacturers were ranked on their annual revenue in the most recent year for which data is available. Supplemental data came from the companies’ websites.
The majority of the world’s largest gun makers are U.S. brands, although some foreign brands, including FN Herstal out of Belgium, also have factories in the U.S. Other foreign brands include Beretta, based in Italy; Taurus, based in Brazil; and Heckler and Koch, based in Germany. The largest gun manufacturer in the world is Smith & Wesson, whose gun sale revenue doubled in its last fiscal year to $1.1 billion.
Colt, which reached No. 9 on the list, is the most prominent gun supplier for the U.S. military from the time of its founding in 1846 until World War II. It is also the primary manufacturer of the AR-15. Colt was recently acquired by the Czech-based company Česká zbrojovka Group, ending its 175 year reign as an American gunmaker. (Colt’s AR-15 is one of the 50 most popular guns in the world.)
Click here to see the world’s largest gun makers.
13. Barrett Firearms
> 2021 annual revenue: $13.0 million
> Founded in: 1982
> Headquarters: Murfreesboro, Tennessee
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12. Savage Arms
> 2019 annual revenue: $30 million
> Founded in: 1894
> Headquarters: Westfield, Massachusetts
11. O.F. Mossberg & Sons
> 2021 annual revenue: $38.1 million
> Founded in: 1919
> Headquarters: North Haven, Connecticut
10. Springfield Armory, Inc.
> 2021 annual revenue: $63.9 million
> Founded in: 1974
> Headquarters: Geneseo, Illinois
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9. Colt Defense
> 2021 annual revenue: $270.9 million
> Founded in: 1846
> Headquarters: West Hartford, Connecticut
8. Heckler and Koch
> 2021 annual revenue: $295.0 million
> Founded in: 1948
> Headquarters: Oberndorf am Neckar, Germany
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7. SIG Sauer
> 2021 annual revenue: $314.4 million
> Founded in: 1976
> Headquarters: Newington, New Hampshire
6. Taurus Armas S.A.
> 2019 annual revenue: $342.1 million
> Founded in: 1939
> Headquarters: São Leopoldo, Brazil
5. FN Herstal
> 2019 annual revenue: $399.6 million
> Founded in: 1889
> Headquarters: Herstal, Belgium
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4. Sturm, Ruger Co.
> 2021 annual revenue: $731 million
> Founded in: 1949
> Headquarters: Southport, Connecticut
3. Beretta
> 2019 annual revenue: $830.7 million
> Founded in: 1526
> Headquarters: Gardone Val Trompia, Italy
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2. Remington Outdoor
> 2021 annual revenue: $865.1 million
> Founded in: 1816
> Headquarters: Ilion, New York (moving to LaGrange, Georgia)
24/7 Wall St.
1. Smith & Wesson
> 2021 annual revenue: $1.1 billion
> Founded in: 1852
> Headquarters: Springfield, Massachusetts (moving to Maryville, Tennessee)
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