The Firearms Industry: Guns as a Business

Abstract

The American firearms industry can be traced back to the founding in 1777 of the Springfield Armory in Springfield, Massachusetts. The armory was established as a safe place for the revolutionary forces to make and store arms.¹ It produced military weapons used by Union soldiers during the Civil War and the M-1 Garand, the standard infantry rifle used in World War II. Scores of firms followed the Springfield Armory in making western Massachusetts and Connecticut a hub for gun manufacturing. Iconic companies, such as Colt, Sturm Ruger & Co., Smith & Wesson, and the Winchester Repeating Arms Co. eventually set up in “Gun Valley.” These companies developed products like the revolver, semiautomatic pistols, and various models of rifles, including the M-16 assault rifle.