Yahoo Finance 25 Countries with Highest Gun Ownership in 2024
In this article, we will take a look at the 25 countries with highest gun ownership in 2024. If you want to skip our discussion on the gun industry, you can go directly to the 5 Countries with Highest Gun Ownership in 2024.
In over 175 countries, civilians are allowed to own guns, but most have regulations in place. These regulations might restrict certain firearm types. For instance, some countries may ban assault weapons. Mexico, Guatemala, and the United States stand out because they have made gun ownership a constitutional right. Thus, they can be called the most gun-friendly countries or the countries with the easiest gun laws in the world. However, even in these countries, limitations may exist on specific firearms. A historical example is the temporary ban on assault rifles and high-capacity magazines in the US from 1994 to 2004. On the other end of the spectrum, North Korea and Eritrea completely prohibit civilian gun ownership.
Gun ownership by country varies widely and depends on the gun laws. According to the Small Arms Survey, American civilians are estimated to own more firearms than all of the combined firearms from 24 countries, with around 393 million civilian-held firearms in circulation, both legal and illegal. On the other hand, countries like China, Japan, Singapore, and Vietnam have very strict firearm laws, resulting in some of the lowest civilian gun ownership rates in the world. In fact, Taiwan and Indonesia have practically no civilian gun ownership, with close to zero firearms per 100 people.
Global Firearms Market Overview
The value of the global firearms market stood at $41.7 billion in 2023. Between 2024 and 2032, the market is expected to grow further at a rate of 6% annually. Looking at the statistics above, it is not surprising that among the largest gun companies globally, several popular ones are based in the United States. Three notable companies operating in the industry or adjacent industries are Vista Outdoor Inc. (NYSE:VSTO), Sportsman's Warehouse Holdings, Inc. (NASDAQ:SPWH), and Smith & Wesson Brands, Inc. (NASDAQ:SWBI).
Vista Outdoor Inc. (NYSE:VSTO) is recognized as one of the leading ammunition companies, owning a wide range of ammunition brands such as Federal, Speer, Estate Cartridge, Hevi-Shot, CCI and Remington. The company's revenue positions it as a significant player in the industry. As per the most recent earnings call by the management, Vista Outdoor Inc. (NYSE:VSTO) reported sales of $365 million in the third quarter of fiscal year 2024. Additionally, the company achieved an adjusted EBITDA margin that exceeded expectations, reaching 28%.
Sportsman's Warehouse Holdings, Inc. (NASDAQ:SPWH) is another prominent company specializing in outdoor sporting goods, including firearms, ammunition, and related accessories. During the earnings call for the fourth quarter of 2023, it was revealed that the company recorded net sales of $370.4 million. This figure fell at the lower end of the company's guided range. In comparison, net sales in the same quarter of the previous year amounted to $379.3 million. Sportsman's Warehouse Holdings, Inc. (NASDAQ:SPWH) attributed the lower net sales to the challenging macroeconomic environment and the ongoing issue of high inflation, which had a negative impact on consumer discretionary spending during the holiday season.
Smith & Wesson Brands, Inc. (NASDAQ:SWBI) is another renowned manufacturer of firearms and accessories. The company shared a financial update in its Q4 2023 earnings call:
“Our new product portfolio and reputation for quality continue to be key differentiators, and we are proud to have been the recipient of the 2023 Innovator of the Year Awards from two major industry partners, Guns & Ammo Magazine and the NASGW, the trade association representing our distribution partners. New products remain an important driver and accounted for 29% of our overall revenue mix in the quarter. Recently introduced products including the M&P 5.7, the FPC, and the Response, have all been very well-received by the market. In the first half of the fiscal year, new products accounted for 31% of our sales, and we expect this momentum to continue. We have some very exciting launches planned for SHOT Show next month, which I look forward to discussing in more detail very soon.”
Our Methodology
For the list of 25 countries with highest gun ownership in 2024, we relied on data from the Small Arms Survey, a reputable source of information on global firearms ownership. The most recent survey provided an overview of the number of firearms owned by civilians, including both registered and unregistered weapons. We have ranked the countries in ascending order of the number of civilian guns owned per 100 people.
By the way, Insider Monkey is an investing website that tracks the movements of corporate insiders and hedge funds. By using a consensus approach, we identify the best stock picks of more than 900 hedge funds investing in US stocks. The top 10 consensus stock picks of hedge funds outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). Whether you are a beginner investor or professional one looking for the best stocks to buy, you can benefit from the wisdom of hedge funds and corporate insiders.
25 Countries with Highest Gun Ownership in 2024
25. Monaco
Guns per 100 people: 19.60
Total Firearms (Civilian): 7,000
Monaco is one of the most densely populated regions in the world. While civilian gun ownership sits at 19.6 guns per 100 residents, obtaining a license is no easy feat in Monaco. The country has strict regulations and requires applicants to demonstrate consistent practice with their desired weapon type and possess a certificate verifying their competency in handling it.
24. Iraq
Guns per 100 people: 19.60
Total Firearms (Civilian): 7.6 Million
Iraq’s civilian gun ownership rate stands at 19.6 firearms per 100 people, translating to an estimated 7.6 million civilian firearms. However, obtaining a precise firearms count in the country remains challenging due to the lingering effects of past conflicts, including the 2003 invasion and the 2011 US withdrawal.
23. France
Guns per 100 people: 19.60
Total Firearms (Civilian): 12.7 Million
France has an ownership rate of 19.60 guns per 100 people, with the total civilian firearms standing at around 12.7 million.
22. Germany
Guns per 100 people: 19.60
Total Firearms (Civilian): 15.8 Million
Despite its reputation for strict gun control laws, Germany actually has a relatively high rate of gun ownership. Approximately 1 million Germans legally possess over 5 million firearms. The rate of gun ownership per 100 civilians stands at 19.60, with a total of 15.8 million civilian firearms in the country.
21. Portugal
Guns per 100 people: 21.30
Total Firearms (Civilian): 2.2 Million
Portugal, a southwestern European country, has an estimated 2.1 million firearms, with roughly 1.4 million legally registered. This translates to a gun ownership rate of 21.3 firearms per 100 people. Unlike some countries, self-defense is not a reason to own a gun in Portugal. Ownership is permitted for hunting, target shooting, and pest control.
20. Pakistan
Guns per 100 people: 22.30
Total Firearms (Civilian): 43.9 Million
Pakistan, a populous South Asian country, ranks 20th globally in terms of civilian gun ownership. While the officially registered firearms count stands at only 6 million, estimates indicate a significantly higher total of 44 million in circulation. This equates to a rate of 22.3 guns per 100 individuals in the country.
19. Sweden
Guns per 100 people: 23.10
Total Firearms (Civilian): 2.3 Million
Sweden is one of the largest countries in the Nordic region, sprawling over 450,295 square kilometers. Over 0.5 million individuals own weapons, totaling 2.3 million civilian firearms in the country. This translates to a rate of 23.10 guns per 100 people in Sweden. The large majority of them are used for hunting.
18. New Zealand
Guns per 100 people: 26.30
Total Firearms (Civilian): 1.2 Million
New Zealand has a high rate of gun ownership. Despite its population of just under 5 million, estimates indicate that there is roughly one firearm for every three citizens, resulting in a 26.3% ownership rate.
17. Switzerland
Guns per 100 people: 27.60
Total Firearms (Civilian): 2.3 Million
Switzerland, a landlocked country in western-central Europe, stands out for two seemingly contradictory reasons: it's both one of the most heavily armed countries globally and consistently ranks among the safest. This country has a high civilian gun ownership rate, with nearly 28 firearms per 100 people, placing it near the top in Western Europe. Swiss gun laws are comparatively flexible compared to those of its neighbors.
16. Malta
Guns per 100 people: 28.30
Total Firearms (Civilian): 0.119 Million
With roughly 28 firearms per 100 civilians, Malta has a relatively high civilian gun ownership rate. The total number of civilian firearms in the country is estimated at around 119,000.
15. Liechtenstein
Guns per 100 people: 28.80
Total Firearms (Civilian): 0.011 Million
Liechtenstein is situated in the middle of Europe's alpine region. An estimated 28.80 people per 100 own guns in Liechtenstein, with the total number of civilian firearms being 11,000 across the country.
14. Norway
Guns per 100 people: 28.80
Total Firearms (Civilian): 1.5 Million
Norway, a Nordic country in Northern Europe, possesses 1.5 million guns, which means one for every four Norwegians in the region. With 28.80 out of 100 people owning firearms, Norway ranks 16th on the list of countries with highest gun ownership in 2024.
13. North Macedonia
Guns per 100 people: 29.80
Total Firearms (Civilian): 621000
North Macedonia is a landlocked country in Southeast Europe. The country allows hunters and collectors to acquire guns relatively easily (on a shall-issue basis). Obtaining a permit for self-defense is more challenging (on a may-issue basis).
12. Austria
Guns per 100 people: 30.0
Total Firearms (Civilian): 2.6 Million
Austria has a gun ownership rate of around 30 firearms per 100 people. The country is estimated to have a total of 2.6 million civilian firearms.
11. Bosnia and Herzegovina
Guns per 100 people: 31.20
Total Firearms (Civilian): 1.5 Million
Bosnia and Herzegovina, a Balkan nation in Southeastern Europe, ranks among the top 15 countries globally for civilian gun ownership. Despite a population of just 3.8 million, the country estimates around 1.5 million firearms are in civilian hands, translating to a very high gun ownership rate.
10. Iceland
Guns per 100 people: 31.70
Total Firearms (Civilian): 106000
Roughly one in three Icelanders own a firearm, translating to an estimated 106,000 guns in civilian hands. Interestingly, most of these firearms are rifles and shotguns used for hunting rather than handguns. Iceland is at the tenth position on our list of countries with highest gun ownership in 2024.
9. Lebanon
Guns per 100 people: 31.90
Total Firearms (Civilian): 1.9 Million
Lebanon averages 31.9 guns per 100 individuals owning guns, with a total of 1.9 million civilian firearms present in the country.
8. Finland
Guns per 100 people: 32.40
Total Firearms (Civilian): 1.8 Million
Spanning 338,145 square kilometers, Finland is a Nordic country with a population of 5.6 million. Finland has nearly 32 firearms per 100 residents, putting it amongst the countries with the highest gun ownership in 2024.
7. Cyprus
Guns per 100 people: 34.00
Total Firearms (Civilian): 285000
According to a survey, a significant portion of the country’s population, 18%, currently owns firearms, while 13% have owned them in the past. In Cyprus, 34 out of every 100 people possess guns, totaling 285,000 civilian firearms.
6. Uruguay
Guns per 100 people: 34.70 Total Firearms (Civilian): 1.2 Million Uruguay, known for its shall-issue firearm permits, ranks among the most powerful militaries in Latin America. The country possesses 1.2 million civilian firearms, with 34.70 per 100 people owning guns. Click to continue reading and see the 5 Countries with Highest Gun Ownership in 2024. Suggested articles:
Disclosure: None. 25 Countries With Highest Gun Ownership in 2024 is originally published on Insider Monkey.
