Guns and Accessories Market to Grow at a CAGR of 4.6% over 2025 to 2032; Rising Global Tensions to Boost Market Growth

The global guns and accessories market size was valued at USD 7.12 billion in 2024. It is projected to grow from USD 7.39 billion in 2025 to USD 10.15 billion by 2032, exhibiting a CAGR of 4.6% during the forecast period. Fortune Business Insights™ presents this information in its report titled “Guns and Accessories Market Size, Share & Industry Analysis, By Type (Guns (Handgun, Shotgun, Rifles, and Machine Gun) and Accessories (Barrels, Grips, Magazines, Kits and Parts, Optics, Lasers, Lights, and Others)), By Application (Defense, Law Enforcement, Civil (Hunting, Sports Shooting, Self-Defense, and Others)), and Regional Forecast, 2025-2032”.

A firearm is a portable weapon that expels a projectile through explosive force. Common types include shotguns, machine guns, submachine guns, rifles, and handguns used for law enforcement and defense. Rising global tensions and growing civilian firearms will fuel the expansion of the guns and accessories market.

Amid the COVID-19 pandemic, gun sales in the U.S. spiked due to security concerns and government regulations. The FBI’s NICS conducted over 14 million background checks from March to June, the highest in 22 years. The Brookings Institution estimates an additional 3 million firearms were sold compared to typical sales.

Impact of Russia-Ukraine War

The Russia-Ukraine war has driven up demand for military equipment, with the U.S. providing USD 65.9 billion in military assistance and USD 69.2 billion in aid, including anti-armor systems and missiles. Meanwhile, Russia’s arms exports dropped 58% (2019-2023) due to sanctions and war-related attrition, allowing China to expand its market share. Reports also indicate rising arms trafficking in Ukraine, with heavier weapons being seized from military personnel.  

U.S. Army Signed 5-year Deal to Produce M16A4 Rifles

In April 2020, the U.S. Army secured a five-year deal worth USD 383.3 million with Colt Manufacturing and FN America to manufacture M16A4 rifles for Iraq, Nepal, Lebanon, and Afghanistan under the Pentagon's Foreign Military Sales program.

Increasing Defense Budgets to Drive Market Growth

Global defense forces and law enforcement agencies are increasingly investing in guns and accessories due to escalating security threats and modernization programs. Rising defense expenditures, particularly in Asia Pacific, are driving market expansion, with countries strengthening their manufacturing capabilities. The U.S., the world’s largest defense spender, continues to lead in arms procurement, exemplified by a USD 14.96 million U.S. Army contract awarded to U.S. Ordnance in October 2024 for M60 machine guns and conversion kits. All these aspects are driving the demand for guns and accessories.

Governments globally are imposing stricter gun laws, such as age restrictions, limiting the guns and accessories market growth.

Industry Participants Focus on Partnerships to Expand Their Facility

Leading OEMs are developing lightweight, high-accuracy firearms with advanced technology while expanding through mergers, acquisitions, and partnerships. At the 2020 SHOT SHOW, Laugo Arms introduced the Laugo Alien Pistol brand alongside launches such as the SCCY DVG- 1RD and Glock 44 .22 LR.

List of Key Players Mentioned in the Report:

• AMERICAN OUTDOOR BRANDS INC. (U.S.)


• Fabbrica d'Armi Pietro Beretta S.p.A. (Italy)


• FN HERSTAL (Belgium)


• General Dynamics Corporation (U.S.)


• Heckler & Koch GmbH (Germany)


• Lockheed Martin Corporation (U.S.)


• Northrop Grumman Corporation (U.S.)


• REMINGTON OUTDOOR COMPANY (U.S.)


• Savage (U.S.)


• Sturm, Ruger & Co., Inc. (U.S.)


• TAURUS INTERNATIONAL MANUFACTURING, INC. (U.S.)

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/gun-and-accessories-market-103536

Key Industry Development:

• September 2020 – The U.S. Department of Defense (DoD) awarded a USD 42 million contract to Colt Manufacturing to manufacture M4 and M4A1 carbines.

Further Report Findings

• North America’s market reached USD 2.44 billion in 2024, led by the U.S., which holds over 30% of the global guns and accessories market share due to significant defense expenditures. Increasing security concerns and major industry players, including General Dynamics Corporation and Browning, are fueling regional growth.


• Asia Pacific’s market is set for strong growth, driven by rising defense budgets in China and India, escalating border tensions, and increasing security threats.


• By type, the market is segmented into guns and accessories. The gun segment captured the key share of the market in 2024. Growing civilian demand for handguns and rifles, especially for hunting and self-defense, is fueling the growth of the segment.

Table of Segmentation