Firearm Industry Economic Impact Rises 379% Since 2008
The total economic impact of the firearm and ammunition industry in the U.S. increased from $19.1 billion in 2008 to $91.7 billion in 2024, a 379% increase, while the total number of full-time equivalent jobs rose from approximately 166,000 to over 383,000, a 130% increase in that period, according to a report released by the NSSF.
On a year-over-year basis, the industry’s economic impact rose from $90.5 billion in 2023, to $91.7 billion in 2024. The firearm industry has broader impacts throughout the economy. It supports and generates business for firms seemingly unrelated to firearms, at a time when every job in America counts. These are real people, with real jobs, working in industries as varied as banking, retail, accounting, metal working and printing among others.
The firearm and ammunition industry paid nearly $11 billion in business taxes, including property, income and sales-based levies. An additional $886 million was paid in federal excise taxes, which directly contribute to wildlife conservation.
A “Vital” Economic Contributor
NSSF President and CEO Joe Bartozzi acknowledged the sizable impact the thousands of companies engaged in commerce have locally.
“Our industry is a vital economic contributor to every state and every community. These are companies employing men and women from all walks of life and they prove daily that the American firearm and ammunition industry is strong,” said Bartozzi. “This industry proudly provides the means for law-abiding citizens to exercise their Second Amendment rights. Our industry enables Americans to engage in the American traditions of recreational target shooting and hunting, and we are the primary source of wildlife conservation funding in America.”
Bartozzi shared additional figures that point to a surging, thriving industry.
“The growth of the firearm industry equals more jobs that add to our local economies, averaging $68,300 in wages and benefits, up from $67,500 reported last year. Since 2008, federal business tax payments increased by 340%, Pittman-Robertson excise taxes that support wildlife conservation by 152% and state business taxes by 238%,” he said.
The annual Firearm and Ammunition Industry Economic Impact Report provides a state-by-state breakdown of job numbers, wages and output covering direct, supplier and induced employment, as well as federal excise taxes paid. Access the full report here.
