Guns and ammunition are a multi-billion dollar industry in the United States. The only country in the world with more guns than people, the U.S. is home to over 3,200 federally licensed gunmakers – and demand for their products generated an estimated $80.7 billion in economic output in 2022 alone, according to the National Shooting Sports Foundation.
Still, like many sectors of the economy, the firearm industry is dominated by only a handful of gunmakers with large-scale production operations. These companies not only market their products to civilians, but many also have lucrative government contracts, selling both handguns and long guns to militaries and law enforcement agencies around the world — and bringing in hundreds of millions of dollars in revenue each year.
Using data compiled by career site Zippia and the Bureau of Alcohol, Tobacco, Firearms, and Explosives, 24/7 Wall St. identified the world’s largest gun manufacturers. The brands on this list are ranked by revenue for the most recent year of available data. In cases where revenue figures were not available in financial disclosures filed with the Securities and Exchange Commission, we used figures reported by Zippia or estimates provided by other private entities.
Only companies with at least one U.S. manufacturing facility and annual revenue exceeding $50 million were considered.
Of the 14 firearm brands on this list, nine are American companies. The foreign gunmakers on this list, including Beretta, Glock, Heckler and Koch, are mostly European, though one brand on this list, Taurus, has its global headquarters in South America. Still, even brands with foreign headquarters manufactured thousands of firearms within the United States in 2021 alone. (Here is a look at the companies selling the most guns online.)
Among the five largest firearm brands on this list by revenue — with annual revenues ranging from $355 million to $950 million — three are American. These brands include Ruger and Remington, the names behind, respectively, the 10/22 rifle and 870 shotgun — two of the most popular firearms in the world. (Here is a look at America’s 10 most popular semi-automatic rifles, and how much they cost.)
Here are the world’s biggest gun manufacturers.
14. Glock
> Annual revenue, 2022: $66.1 million
> Domestically made firearms in 2021: 581,944
> Founded in: 1963
> Headquarters: Deutsch-Wagram, Austria
[in-text-ad]
13. Kimber
> Annual revenue, 2022 (est.): $89.7 million
> Domestically made firearms in 2021: 294,750
> Founded in: 1979
> Headquarters: Troy, Alabama
12. Savage Arms
> Annual revenue, 2022: $106.4 million
> Domestically made firearms in 2021: 406,867
> Founded in: 1894
> Headquarters: Westfield, Massachusetts
11. O.F. Mossberg & Sons
> Annual revenue, 2022: $160.0 million
> Domestically made firearms in 2021: 492,444 (incl. Maverick Arms)
> Founded in: 1919
> Headquarters: North Haven, Connecticut
10. Springfield Armory, Inc.
> Annual revenue, 2022: $222.2 million
> Domestically made firearms in 2021: 590,750
> Founded in: 1974
> Headquarters: Geneseo, Illinois
9. Heckler and Koch
> Annual revenue, 2021: $244.9 million
> Domestically made firearms in 2021: 10,971
> Founded in: 1948
> Headquarters: Oberndorf am Neckar, Germany
8. Colt
> Annual revenue, 2022: $270.9 million
> Domestically made firearms in 2021: 151,771
> Founded in: 1846
> Headquarters: West Hartford, Connecticut
24/7 Wall St.
7. FN Herstal
> Annual revenue, 2022: $271.46 million
> Domestically made firearms in 2021: 169,407
> Founded in: 1889
> Headquarters: Herstal, Belgium
6. SIG Sauer
> Annual revenue, 2022: $314.4 million
> Domestically made firearms in 2021: 1,294,185
> Founded in: 1976
> Headquarters: Newington, New Hampshire
5. Taurus
> Annual revenue, 2022: $355.0 million
> Domestically made firearms in 2021: 290,780
> Founded in: 1939
> Headquarters: Sao Leopoldo, Brazil
4. Ruger
> Annual revenue, 2022: $595.8 million
> Domestically made firearms in 2021: 2,078,013
> Founded in: 1949
> Headquarters: Southport, Connecticut
3. Beretta
> Annual revenue, 2022: $734.4 million
> Domestically made firearms in 2021: 155,352
> Founded in: 1526
> Headquarters: Gardone Val Trompia, Italy
24/7 Wall St.
2. Smith & Wesson
> Annual revenue, 2022: $864.1 million
> Domestically made firearms in 2021: 2,317,792
> Founded in: 1852
> Headquarters: Springfield, Massachusetts
1. Remington
> Annual revenue, 2022: $950.0 million
> Domestically made firearms in 2021: 86,594
> Founded in: 1816
> Headquarters: LaGrange, Georgia
Essential Tips for Investing (Sponsored)
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
