Guns and Accessories Market Research Report Information By Product Type (Handguns, Rifles, Shotguns, Ammunition, Optics and Sighting Systems, Holsters and Cases, Gun Cleaning and Maintenance Products and Others), By Application (Personal Defense and Security, Hunting, Shooting Sports and Law Enforcement and Military) By Distribution Channel (Online Retail, Specialty Stores, Departmental Stores and Gun Shows) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032.

Global Guns and Accessories Market Overview

Guns and Accessories Market Size was valued at USD 6.6 Billion in 2022. The Guns and Accessories market industry is projected to grow from USD 7.035 Billion in 2023 to USD 11.73 Billion by 2032, exhibiting a compound yearly growth rate (CAGR) of 6.60% during the forecast period (2023 - 2032). The Increasing Demand For Personal Safety And Self-Defense And Recreational Shooting And Sporting Activities are the key market drivers enhancing growth of the market.

Source The Secondary Research, Primary Research, MRFR Database and Analyst Review

Guns and Accessories Market Trends

Growing demand for personal safety and self-defense is driving the market growth

Market CAGR for guns and accessories is being driven by the rising demand for personal safety and self-defense. Rising concerns about personal safety, including fears of crime and a desire to protect oneself and one's family, motivate individuals to explore options for self-defense. This heightened awareness of personal security drives interest in firearms and related accessories as a means to provide protection. Shifts in societal dynamics, including concerns about civil unrest, public safety, and changing attitudes toward personal responsibility for one's safety, influence the perception of firearms as a means of self-defense. These dynamics can lead individuals to consider gun ownership and invest in appropriate accessories.

Changes in legislation and regulations, whether related to concealed carry permits, self-defense laws, or access to firearms, can influence the ease and legality of acquiring guns and accessories. Regulatory changes often play a role in shaping the market by either enabling or limiting access to such products. Increased efforts by organizations, advocates, and industry stakeholders to promote awareness and education on responsible gun ownership and self-defense contribute to a growing interest in firearms and accessories. This educational outreach often emphasizes the importance of proper training and the responsible use of firearms. The firearms industry and related accessory manufacturers actively market their products to individuals interested in personal safety and self-defense. They highlight the effectiveness and reliability of their offerings, which can attract new consumers and drive sales.

Innovations in firearm and accessory technology, such as improved safety features, ergonomics, and reliability, make these products more appealing and user-friendly for those seeking personal protection.

Wider cultural, political, and media discussions about self-defense and the right to bear arms can influence public perception and the market for guns and accessories. Debates and discussions on these topics may lead to increased interest and demand. Economic downturns and uncertainties can lead individuals to consider self-defense options as part of their overall preparedness strategy, further fueling demand for firearms and related accessories.

The recreational aspect of shooting sports and the desire to improve one's skills drive the demand for firearms and related accessories. This includes not only firearms but also accessories like scopes, sights, holsters, and protective gear. Participation in these activities as a hobby or sport, rather than for self-defense is a significant driver of the market. Thus driving the Guns and Accessories market revenue.

Guns and Accessories Market Segment Insights

Guns and Accessories Product Type Insights

The Guns and Accessories market segmentation, based on product type, includes Handguns, Rifles, Shotguns, Ammunition, Optics and Sighting Systems, Holsters and Cases, Gun Cleaning and Maintenance Products, and Others. The handguns segment dominates the market, accounting for the largest market revenue due to their versatility and widespread appeal. They are favored for self-defense, concealed carry, and recreational shooting, making them a staple choice for a broad range of consumers. Additionally, handguns are often more affordable and accessible than other firearm types, further contributing to their dominance in the market and driving the demand for associated accessories, including holsters, optics, and cleaning products. Further, the ammunition category is the second most dominant as the demand for ammunition remains constantly high.

Guns and Accessories Application Insights

The Guns and Accessories market segmentation, based on application, includes Personal Defense and Security, Hunting, Shooting Sports, and Law Enforcement and Military. The military segment dominates the market because the military's demand for high-performance firearms, ammunition, and accessories is substantial and consistent, driving innovation and setting quality standards. The military contracts are typically very lucrative and awarded to established, trusted manufacturers with a proven track record in producing reliable and effective weaponry. The military's stringent testing and evaluation procedures can serve as a rigorous quality assurance process, enhancing the reputation of companies that secure military contracts.

Guns and Accessories Distribution Channel Insights

The Guns and Accessories market segmentation, based on distribution channels, includes Online Retail, Specialty Stores, Departmental Stores, and Gun Shows. The specialty stores category dominates the market as these stores often provide a wide range of specialized products, including firearms, ammunition, holsters, optics, and other related accessories. They provide a dedicated shopping environment for gun enthusiasts and professionals, with knowledgeable staff who can offer expert advice and guidance. Additionally, specialty stores may have exclusive deals with manufacturers and access to unique products, giving them a competitive edge. Their focus on the firearms and accessories niche and customer-centric approach make them a vital channel within the market.

Figure 1: Guns and Accessories Market, by Distribution Channel, 2022 & 2032 (USD Billion)

Source The Secondary Research, Primary Research, MRFR Database and Analyst Review

Guns and Accessories Regional Insights

By region, the study gives market insights into the North America, Europe, Asia-Pacific and the Rest of the World. The North American Guns and Accessories market area dominates this market due to a strong cultural attachment to firearms, a significant presence of gun enthusiasts, and a well-established firearms industry. The presence of a wide range of firearms manufacturers, retailers, shooting sports events, and a large customer base all contribute to North America's leadership in the guns and accessories market.

Further, the major countries studied in the market report are The US, Canada, Germany, France, the UK, Italy, Spain, Japan, India, China, Australia, South Korea, and Brazil.

Figure 2: GUNS AND ACCESSORIES MARKET SHARE BY REGION 2022 (USD Billion)

Source The Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe's Guns and Accessories market accounts for the second-largest market share due to the strict gun control regulations, security concerns, and the demand for sports shooting and hunting, which contribute to a niche but growing market for firearms and related products. Further, the German Guns and Accessories market held the largest market share, and the UK Guns and Accessories market was the rapid-growing market in European region.

The Asia-Pacific Guns and Accessories Market is expected to rise at the fastest CAGR from the year 2023 to 2032. This is due to a rising interest in shooting sports and recreational shooting, combined with increasing concerns about personal safety and self-defense. Moreover, China’s Guns and Accessories market held the largest market share, and the Indian Guns and Accessories market was the rapid-growing market in Asia-Pacific region.

Guns and Accessories Key Market Players & Competitive Insights

Leading market players are investing heavily in the research and development in order to expand their product lines, which will help the Guns and Accessories market grow even more. Market players are also undertaking a variety of strategic activities to spread their footprint, with important market developments including mergers and acquisitions, new product launches, contractual agreements, higher investments, and collaboration with other organizations. To spread and survive in a more competitive and rising market climate, the Guns and Accessories industry must offer cost-effective items.

Manufacturing locally to minimize the operational costs is one of the key business tactics used by the manufacturers in the Guns and Accessories industry to benefit the clients and increase the market sector. In recent years, the Guns and Accessories industry has offered some of the most significant advantages to safety. Major players in the Guns and Accessories market, including AMERICAN OUTDOOR BRANDS INC., Fabbrica d'Armi Pietro Beretta S.p.A., FN HERSTAL, General Dynamics Corporation, Heckler & Koch GmbH, Lockheed Martin Corporation, Northrop Grumman Corporation, REMINGTON OUTDOOR COMPANY, Savage, Sturm, Ruger & Co., Inc., TAURUS INTERNATIONAL MANUFACTURING, INC., and others, are trying to increase market demand by investing in the research and development operations.

Smith & Wesson Brands, Inc. is an American firearms and outdoor sports equipment company. Smith & Wesson is renowned for its production of firearms, including handguns, rifles, and shotguns. The company has a long history dating back to the mid-19th century and has a strong reputation for the quality and reliability of its firearms. Smith & Wesson is one of the leading firearms manufacturers in the United States and has a significant presence in the firearms market. It serves both civilian and law enforcement markets. In November 2022, Smith & Wesson Brands, Inc., a leading manufacturer of firearms and ammunition, acquired Crimson Trace Corporation, a manufacturer of laser sights and other optical accessories, for $95 million. This acquisition gives Smith & Wesson a strong presence in the laser sight market, which is growing rapidly due to the increasing popularity of AR-15 rifles.

Vista Outdoor Inc. is a publicly traded American company known for its portfolio of outdoor sports and recreation brands. Vista Outdoor is a major player in the shooting sports market, providing ammunition, firearms accessories, and outdoor-related products. They are recognized for producing Federal Premium, CCI, and Speer ammunition, among others. In March 2023, Vista Outdoor Inc., the parent company of brands such as Remington, Savage, and Bell & Ross, announced that it had acquired Bushnell Corporation for $430 million. Bushnell is a leading manufacturer of binoculars, spotting scopes, and other optical devices. The acquisition is expected to help Vista Outdoor expand its product offerings and reach the new customers.

Key Companies in the Guns and Accessories market include

• AMERICAN OUTDOOR BRANDS INC.


• Fabbrica d'Armi Pietro Beretta S.p.A


• FN HERSTAL


• General Dynamics Corporation


• Heckler & Koch GmbH


• Lockheed Martin Corporation


• Northrop Grumman Corporation


• REMINGTON OUTDOOR COMPANY


• Savage


• Sturm, Ruger & Co., Inc.


• TAURUS INTERNATIONAL MANUFACTURING, INC.

Guns and Accessories Industry Developments

For Instance, February 2023 The ammunition company Hornady Manufacturing announced that it had partnered with the gun manufacturer Sig Sauer to develop a new line of ammunition for Sig Sauer pistols. The new line of ammunition is called Hornady Critical Defense, and it is designed to be highly effective in self-defense situations.

For Instance, March 2023 Vista Outdoor Inc., a leading outdoor recreation products company, acquired Bushnell Corporation, a manufacturer of sports optics and accessories, for $1.3 billion.

For Instance, December 2022 the gun manufacturer Sturm, Ruger & Co., Inc. announced that it had acquired the suppressor company SilencerCo for $63 million. SilencerCo is a leading manufacturer of suppressors, also known as silencers. The acquisition is expected to help Sturm, Ruger expand its product offerings and reach the new customers.

Guns and Accessories Market Segmentation

Guns and Accessories Product Type Outlook

• Handguns


• Rifles


• Shotguns


• Ammunition


• Optics and Sighting Systems


• Holsters and Cases


• Gun Cleaning and Maintenance Products


• Others

Guns and Accessories Application Outlook

• Personal Defense and Security


• Hunting


• Shooting Sports


• Law Enforcement


• Military

Guns and Accessories Distribution Channel Outlook

• Online Retail


• Specialty Stores


• Departmental Stores


• Gun Shows

Guns and Accessories Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America