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.
Source: sand86 / iStock via Getty Images
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]
Source: Public Domain / Wikimedia Commons
13. Kimber
> Annual revenue, 2022 (est.): $89.7 million
> Domestically made firearms in 2021: 294,750
> Founded in: 1979
> Headquarters: Troy, Alabama
24/7 Wall St.
Source: Courtesy of Savage Arms
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
Source: Courtesy of Saint Armory
10. Springfield Armory, Inc.
> Annual revenue, 2022: $222.2 million
> Domestically made firearms in 2021: 590,750
> Founded in: 1974
> Headquarters: Geneseo, Illinois
Source: CherriesJD / iStock via Getty Images
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
Source: Courtesy of Colt's Manufacturing Company, LLC
8. Colt
> Annual revenue, 2022: $270.9 million
> Domestically made firearms in 2021: 151,771
> Founded in: 1846
> Headquarters: West Hartford, Connecticut
Source: Courtesy of FN America, LLC
7. FN Herstal
> Annual revenue, 2022: $271.46 million
> Domestically made firearms in 2021: 169,407
> Founded in: 1889
> Headquarters: Herstal, Belgium
Source: Sig Sauer
6. SIG Sauer
> Annual revenue, 2022: $314.4 million
> Domestically made firearms in 2021: 1,294,185
> Founded in: 1976
> Headquarters: Newington, New Hampshire
Source: Courtesy of Taurus International Manufacturing, Inc
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.
Source: NoDerog / iStock Unreleased via Getty Images
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
Take This Retirement Quiz To Get Matched With A Financial Advisor (Sponsored)
Take the quiz below to get matched with a financial advisor today.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Take the retirement quiz right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
