Firearms Manufacturers NAICS 332994

Mar 5, 2026 - Firearms Manufacturing Adjusts After Sales Peak

• The US firearms manufacturing industry experienced a production slowdown in 2023 but continues to show strong long-term demand, according to the most recent data released by the National Shooting Sports Foundation (NSSF). Domestic firearm production totaled 8,466,729 units in 2023, a 15.4% decrease from 2022, reflecting easing demand after the elevated sales period beginning in 2020. Despite the decline, the US market remained sizable, with 13,574,653 firearms available, including 8,176,535 handguns, 3,899,907 rifles, and 1,498,211 shotguns. Long-term ownership trends remain robust, with an estimated 506.1 million firearms in civilian possession from 1990–2023. Modern Sporting Rifles (MSRs) remain a key segment, with 32.1 million in circulation, though MSR production fell 46.2% from 2022 to 2023. Overall, the data suggests manufacturers are adjusting production following peak demand, while underlying consumer interest in firearms and shooting sports remains strong.
• The fabricated metal products manufacturing industry, which includes firearms manufacturing, expanded in February, supported by improving demand conditions, according to February’s Manufacturing ISM Report on Business. The ISM Manufacturing PMI registered 52.4, down 0.2 percentage points from 52.6 in January, indicating the broader manufacturing sector continued to grow but at a slightly slower pace. Fabricated metal products was among the 12 manufacturing industries reporting growth during the month, with gains also reflected in new orders and production, both remaining in expansion territory. However, manufacturers faced rising cost pressures, as the Prices Index jumped to 70.5 from 59.0 in January, driven in part by higher steel and aluminum prices. At the same time, supplier deliveries slowed and inventories continued contracting, signaling ongoing supply chain adjustments. Overall, the data suggests steady demand but increasing input costs for fabricated metal products manufacturers as the sector continues its gradual recovery.

• The US firearms manufacturers industry is projected to grow at a CAGR of 5.3% between 2025 and 2029, faster than the overall economy's anticipated growth, according to an updated forecast from Inforum and the Interindustry Economic Research Fund, Inc. Consumer sentiment is expected to improve in the forecast period, which bodes well for the durable goods manufacturing industries, including firearms manufacturers. A factor that may curb consumer spending is substantially higher tariffs on consumer goods, which may be painful for households. The forecast noted that a tighter immigration policy could limit the expansion of the labor supply and job growth for durable goods manufacturing industries. However, labor productivity could still improve due to new technologies such as AI and 3-D printing, as well as adjustments forced by the pandemic.
• A new law signed by California Governor Gavin Newsom in October 2025 bans new sales of semi-automatic handguns, specifically Glock-style models with cruciform trigger bars, that can be easily modified into fully automatic weapons, according to the Desert Sun. Effective July 1, 2026, California’s Assembly Bill 1127 exempts law enforcement and private party transfers but restricts future dealer sales. For firearms manufacturers, particularly Glock and similar producers, the legislation poses significant market disruption in one of the nation’s largest states. Lawmakers argue manufacturers failed to redesign products despite long-standing concerns over illegal conversions. The ban could pressure manufacturers to alter designs or face exclusion from California’s retail market. The National Rifle Association and other gun rights groups are suing California over the law, calling it unconstitutional. The law underscores growing regulatory scrutiny and may influence future design standards and compliance strategies across the firearms manufacturing sector.