While gun control advocates see the rise in gun violence as a cause for more restrictive gun control, there are many Americans who see this as a reason to own more guns.
“People have been lawfully purchasing firearms this year for concerns of their safety,” said Oliva. “They are watching crime occur around them.”
Oliva expects demand for guns and ammunition to remain strong “for the foreseeable future” and believes the issues with inventory will eventually “settle out.”
Rommel Dionisio, gun industry analyst for Aegis Capital, also believes that the gun and ammunition industries face “considerable pent-up consumer demand” driven by concerns over personal safety and the specter of more restrictive gun control during the Biden administration.
But he said the industries for guns and ammunition are “capacity constrained” and their greatest challenge going forward is producing enough supply to meet demand.
“I believe these markets have yet to realize the full extent of such pent-up consumer demand, given the current supply limitations,” he said.