This Industry Is Having Its Best Year Ever

Photo by Marsan / Shutterstock.com

We called 2015 the “Year of the Gun” in the United States. But so far in 2016, the guns and ammunition industry is making a killing and could far surpass last year’s record firearms sales.

The Federal Bureau of Investigation conducted 1,853,815 background checks for potential gun buyers in August, according to CNN Money. That’s a 6 percent jump from August 2015.

But it’s not unusual for 2016. CNN Money says the FBI has conducted a record number of background checks every month this year, paving the way for 2016 to be the biggest year ever for firearm sales.

This follows a record-breaking year for gun industry in 2015 as well. The FBI performed a record 23.1 million firearm background checks last year. The previous record (21 million) was set in 2013.

Although a background check doesn’t necessarily indicate that a firearm is sold, the checks are suggestive of gun sales volume.

Smith & Wesson says it had a 40 percent jump in quarterly firearm sales for the first quarter of 2016. Ruger also experienced a spike in gun sales, a 19 percent increase, says CNN Money.

The well-publicized mass shootings of recent years, concern over tightening of gun control laws and political uncertainty at the federal level appear to be driving the surge in gun sales in the U.S.

“The economic growth America’s firearms and ammunition industry has experienced over the years has been nothing short of remarkable,” the National Shooting Sports Foundation wrote in its Firearms and Ammunition Industry Economic Impact Report for 2016.

What do you think about the jump in gun sales in the U.S.? Share your comments below or on our Facebook page.

Disclosure: The information you read here is always objective. However, we sometimes receive compensation when you click links within our stories.

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