In a country where there are 120 guns for every 100 residents, there is no question that firearms are a big business in the United States.
According to the National Shooting Sports Foundation, the arms and ammunition industry generated nearly $90.1 billion in 2023, more than double the entire economic output of the state of Vermont.
Gun ownership grew by 4.3 million in 2023, according to a NSSF estimate. The consumer demand drives some of the world’s largest gunmakers, like Remington, Ruger, and Smith & Wesson.
According to the Bureau of Alcohol, Tobacco, Firearms, and Explosives, there were over 55,900 federally licensed gun stores nationwide as of January 2024, particularly concentrated in certain parts of the country.
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