SIC 3484 - Small Arms
Establishments primarily engaged in manufacturing small firearms having a bore 30 mm. (or 1.18 inch) or less, and parts for small firearms. Also included in this industry are establishments primarily engaged in manufacturing certain weapons more than 30 mm. which are carried and employed by the individual, such as grenade launchers and heavy field machine guns. Establishments primarily engaged in manufacturing artillery and mortars having a bore more than 30 mm. (or more than 1.18 inch), and component parts, are classified in Industry 3489.
Industry trends:
The small arms industry, categorized under NAICS 3484, is undergoing notable qualitative changes due to advancements in technology, shifting consumer demands, and increasing regulatory scrutiny. One significant trend is the push towards smart gun technology. These firearms incorporate biometric sensors and electronic authentication systems, enhancing safety and reducing unauthorized use. Adoption has been slow but is gaining traction as technological reliability improves and public concern over gun safety rises.
Another trend is the growing interest in modularity and customization. Consumers are increasingly looking for firearms that can be easily modified to suit various needs, from self-defense to hunting and sport shooting. This has led to a burgeoning market for aftermarket parts and accessories, providing opportunities for smaller manufacturers to enter the market with niche products.
The industry is also seeing increased consolidation. Larger companies are acquiring smaller ones to expand their product lines and market reach. This trend is likely to continue as firms seek to leverage economies of scale and diversify their portfolios.
Regulatory changes are a constant variable, with ongoing debates about gun control potentially leading to stricter laws. While this could pose challenges, it may also drive innovation in the development of compliant, yet desirable, products.
Looking ahead, the demand for small arms is expected to remain steady, driven by both civilian and law enforcement sectors. However, manufacturers will need to stay agile, adapting quickly to technological advancements and regulatory shifts to maintain competitiveness in the market.
This industry is comprised of:
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