Published on 27 Oct 2023 on Insider Monkey via Yahoo Finance

11 Best Gun Stocks To Buy in 2023

In this piece, we will take a look at the 11 best gun stocks to buy in 2023. If you want to skip our overview of the ammunition industry, then take a look at the 5 Best Gun Stocks To Buy in 2023.

The US gun market is one of the biggest contributors to total economic activity in the country. The sector contributed about $80.7 billion last year, according to The US Firearm Industry Trade Association. In terms of job generation, the ammunition industry generated a total of 393,696 employment opportunities in the United States, while it paid about $25.6 billion in wages. The sector also plays a crucial role in terms of tax revenues as the industry and its workforce pay more than $7.5 billion in taxes including property, income, and sales-based levies, in addition to over $1.15 billion in federal excise taxes. Since the arrival of the recession in 2008, the US ammunition market has provided more than 390,000 employment opportunities.

A research by IBIS World said that the US gun sector had a market size of approximately $18.1 billion in 2022. On average, the US guns and ammunition industry has grown 6.2% annually between 2017 and 2022. In March 2020, 3 million more guns were sold in the US from January to March, the American think tank Brookings Institution estimated. The reason given by the research body was that social unrest was high during the pandemic and people preferred to purchase more firearms to stay safe. Globally, the guns and accessories sector size is expected to reach $9.3 billion by 2027, with a compound annual growth rate of 6.15% during the forecast tenure, Fortune Business Insights reported. In North America, Canada, Mexico, and the US are leading the ammunition market, while Germany, the UK, France, Italy, Russia, and Turkey are leading the European ammunition sector.