Firearms Manufacturers NAICS 332994

Jul 7, 2025 - NSSF-Adjusted NICS Background Checks Decline

• The National Shooting Sports Foundation (NSSF)-adjusted National Instant Background Check System (NICS) verifications for the sale of a firearm at retail totaled over 6 million from January to May 2025, a decrease of 3.6% from the previous year’s total for that period, according to Shooting industry. The figure marks the eighth-highest total in the system’s history through the first five months of the year. NSSF reported that May 2025 was the 70th consecutive month to exceed one million adjusted background checks in a single month, with a total of 1,071,685 checks. The last time background checks were under a million was in July 2019, when 830,579 background checks were recorded. According to the report, the NSSF-adjusted NICS data does not directly reflect arms sales but offers a view of current market conditions.
• Firearms manufacturing, included in the fabricated metal products manufacturing category, is one of the six manufacturing industries reporting contraction in June’s Manufacturing ISM Report on Business. Fabricated metal products manufacturers reported decreased new orders, lower inventories, decreased employment, lower order backlogs, and higher prices for raw materials. Other manufacturing industries reported contraction during the period including Textile Mills; Wood Products; Paper Products; Chemical Products; and Transportation Equipment. Nine industries reporting growth were Apparel, Leather & Allied Products; Petroleum & Coal Products; Nonmetallic Mineral Products; Miscellaneous Manufacturing; Furniture & Related Products; Computer & Electronic Products; Machinery; Food, Beverage & Tobacco Products; and Electrical Equipment, Appliances & Components. Overall, economic activity in the manufacturing sector contracted for the fourth consecutive month in June, with the Manufacturing PMI registering 49%.

• The US firearms manufacturers industry is projected to grow at a CAGR of 5.21% between 2025 and 2029, according to a forecast from Inforum and the Interindustry Economic Research Fund, Inc. The expected growth rate is faster than the overall economy's anticipated growth. Consumer sentiment is expected to improve in the forecast period, which bodes well for the sector. A factor that may curb consumer spending is substantially higher tariffs on consumer goods, which may be painful for households. On a positive note, lower inflation supports a moderate increase of real disposable income by about 2% in 2025 and 1.9% in 2026. Real income could suffer if average prices rise due to tariff implementation. The durable goods manufacturing sector forecast indicates that the labor force is expected to diminish, barring immigration reform that allows greater numbers. However, new technologies could support labor productivity for the industry.
• The total economic impact of the US firearm and ammunition industry rose 1.3% in 2024 to $91.7 billion compared to the previous year, according to the US Firearm and Ammunition Industry Economic Impact report from the National Shooting Sports Foundation (NSSF). When compared to 2008, the total economic impact of the industry is up 379% from $19.1 billion, and the total number of full-time equivalent jobs increased 130% from 166,000 to 383,000. The industry includes US companies that manufacture, distribute, and sell firearms, ammunition, and hunting equipment. The report estimates industry jobs pay an average of $68,300 annually in wages and benefits. According to the report, the firearm and ammunition industry paid $11 billion in business taxes, and an additional $886 million in federal excise taxes.