U.S. Gun Production Triples Since 2000, Fueled by Handgun

Wednesday, May 18, 2022
author picture Jade Durand
trends
Video/image source : youtube, nytimesco
Original content created by news.limited staff

US Gun Production Triples Since 2000 Fueled by Handgun Violence

In 2000‚ US Gunmakers produced over 139 million guns for the commercial market. By 2020‚ this number is expected to rise to 11.3 million guns. This explosion of handgun production is responsible for an increase in gun violence‚ murders‚ and suicides. Many Americans have purchased inexpensive 9mm semi-automatic pistols because they are accurate and easy to use. But this trend may be coming to a screeching halt.

Smith & Wesson dominates the handgun market

Despite the company's dominance in the handgun market‚ the company is not a household name among U.S. gun enthusiasts. Tomkins let the Smith & Wesson brand languish in the market because its products lacked innovation and quality. Moreover‚ a foreign rival - Austria's Glock - has been the dominant force in the handgun market for years. After the Civil War‚ Smith & Wesson began marketing its firearms abroad. They displayed their guns in exhibitions and displayed them to showcase their engraving and capabilities. The Russian Grand Duke Alexis bought several pistols‚ and the Russian government purchased 20‚000 Model 3 revolvers in 1871. Smith & Wesson could not keep up with demand around the world‚ but it did manage to stay on top with their revolvers. The brand was also marketed through prominent figures like Annie Oakley‚ Buffalo Bill Cody‚ and Virgil Earp. The company's new leadership has diversified the company's business from consumer handguns to long guns‚ such as rifles and shotguns. The company's earnings per share for its consumer handgun division‚ which is led by a 65-year-old co-founder named William Ruger‚ increased 128% to $55 million‚ or $3.40 per share. However‚ the company's recent IPO raised its share price from its low in May to an all-time high of $12. Smith & Wesson has a strong presence in the law enforcement market‚ and despite the fact that Glock continues to dominate the handgun industry‚ the company is still a leading supplier in many markets. Their M & P line of pistols‚ which were popular with police‚ are a prime example. Moreover‚ they are lightweight‚ reliable‚ and easy to manufacture. This makes them the ideal choice for law enforcement agencies. While the Glock pistol is undoubtedly superior‚ the DA/SA pistol is an excellent choice for law enforcement and the police. Its hammerless safety system is well-designed and allows for easy operation. The thumb safety‚ however‚ helps control the recoil. Smith & Wesson also offers a single-action DA/SA auto. Aside from this‚ Sig Sauer also offers a full line of pistols.

Demand for semi-automatic guns

In the US‚ the demand for semi-automatic guns has quadrupled since 2000. The growth of these firearms has been driven in part by the increased demand for assault weapons and sniper rifles. The demand for these weapons has increased in part by the increased use of the AR-15 clone by mass shooters‚ such as the Las Vegas shooter Payton Gendron. The ATF report is a major victory for gun control advocates. While Democrats have failed to limit easy access to firearms and semiautomatic rifles‚ they are slowly lifting the informational blackout that has been covering up gun trade data since the George W. Bush administration. President Biden ordered the ATF to examine the past 20 years of data on the US gun trade‚ following a series of mass shootings. In fact‚ the vice president visited the scene of a racially motivated shooting in Buffalo to highlight the need for gun control. The ATF has observed an increase in the demand for weapons since 2000‚ with annual imports rising from two million a decade ago to almost four million by 2020. These numbers are based on data collected by the Small Arms Survey‚ which surveys gun ownership in the US. By the end of 2018‚ a nonpartisan survey estimated that there were over 400 million weapons in the US. ATF officers believe that these figures reflect current purchasing habits. The Pew survey asked gun owners why they own a firearm‚ and the top answer was protection or hunting. In the year following Sandy Hook‚ the nation remained terrified of an assault weapons ban. The Obama administration and anti-gun rhetoric fueled a spike in gun sales during his first term. Total rifle production shot up 52 percent in the first year of President Obama's presidency. The AR-15 was initially developed as a military weapon. The AR stands for Armalite Rifle. The newest version of this rifle has improved its features. In addition to its improved accuracy‚ it is easy to operate and maintain. While this may sound a bit scary‚ the benefits far outweigh the risks. The demand for semi-automatic guns in the US is still at a record high‚ and that trend is likely to continue.

Smith & Wesson

In its most recent quarterly report‚ Smith & Wesson Holdings Corp. tripled its earnings during the third quarter‚ covering the period ended Jan. 31. Earlier this year‚ the Connecticut elementary school shooting spurred a national conversation on the pros and cons of tightening gun laws. Some gun advocates rushed to buy firearms in anticipation of tighter restrictions. This drove sales for many firearms makers. During this period‚ demand for guns increased at the fastest rate ever recorded. The number of imported handguns doubled in size‚ from two million per year a decade ago to nearly five million per year. Imports of all types of guns are also rising rapidly. Imports of all types of guns doubled and are expected to top 4 million by 2020. The influx of new gun buyers has flooded the ATF's switchboard and email servers with questions about legal gun purchases and gun safety. The growth in the number of firearms sold each year has accelerated over the past decade. Annual home gun manufacturing has increased from 3.9 million guns produced in 2000 to nearly 11 million in 2020‚ the report says. These numbers were derived from statistics compiled by business‚ academic‚ and government consultants. However‚ many of the conclusions are not entirely new. In fact‚ the A.T.F. officers believe that the numbers reflect trends in gun ownership and buying. The report also highlights troubling trends in gun theft. In 2021‚ police recovered 19‚344 ghost guns from crime scenes. That was ten times more than they did in 2016. Ghost guns are untraceable homemade weapons that make up nearly half of the guns recovered at crime scenes in California. And as a result‚ many of these weapons were used in crimes. This growth in gun production is a reflection of a change in the way Americans buy guns.

Smith & Wesson's share of the overall market

The company's share of the overall market for hand guns has decreased from nearly 50% to about 25% in recent years‚ due in large part to a shift from producing pocket-sized revolvers to larger-frame ones. The company's focus in this new segment was driven by the growing demand for long guns‚ which remain elevated across the country. The company had been manufacturing rifles and shotguns for more than 150 years‚ and sold them off to Vista Outdoor in 2019. In recent quarters‚ the company has enjoyed record sales and profits. The company's quarterly results jumped 40%‚ and its forecast for the year was increased to $550 million‚ exceeding expectations by Wall Street. The company's CEO‚ James Debney‚ attributed the company's success to a strong consumer demand‚ which helped increase sales of both handguns and long guns by 42% and 119%‚ respectively. The company's shares have soared more than twice as high in the past year‚ as it has experienced record-breaking sales in December. But recent tragedies‚ including the mass shooting in San Bernardino‚ have affected sales. While Smith & Wesson's share of the overall market for handguns has increased significantly this year‚ the company has had to contend with an increasing number of lawsuits related to gun violence. Despite this‚ the company's sales slipped 31 percent in the third quarter‚ missing Wall Street analysts' estimates. The company's share of the overall handgun market slipped by nearly 7% in February‚ and a record-breaking Black Friday was missed by 1.6 percent. But the stock's continued strong profitability can be attributed to a number of factors. Political threats to the safety of Americans have boosted gun sales. And‚ unfortunately‚ these fears have not translated into any stricter federal gun laws. However‚ Smith & Wesson's handgun sales accounted for three-quarters of the company's overall handgun sales in the most recent quarter. In other words‚ even with the threat of increased crime and a possible return of the Second Amendment‚ the overall market for handguns is expected to grow.