The Business of Guns

Wild West, where violence lurked behind every corner, and only the biggest gun available could provide safety. Smith & Wesson began building much larger revolvers, using .38 and .44 caliber ammunition. The company’s biggest publicity success came when it was revealed that the famous outlaw Wild Bill Hickok had been shot with a Smith & Wesson revolver. As the company grew larger throughout the late 19th century, it began to sell to a wider range of customers, including the army, law enforcement, and even gangsters. Its sales, like those of its competitors, picked up anew with both world wars. By the 1980s, however, Smith & Wesson’s large, heavy revolvers had lost popularity among the military and law enforcement, replaced by smaller, lighter, and faster-to- load semiautomatic pistols manufactured by domestic and international rivals. In 2017, Smith & Wesson changed the name of its parent company to American Outdoor Brands Corporation in an attempt to reduce the emphasis on firearms sales, bringing together several umbrella organizations based around hunting and shooting accessories. This move belies its continued success as a firearm manufacturer, putting nearly 1.5 million guns onto the market each year. Of the top ten American gun manufacturers, Smith & Wesson is one of just two (along with Sturm, Ruger & Co.) that manufacture revolvers—none of the other companies choose to do so. Smith & Wesson accounts for a full 31 percent of all revolvers produced in the United States today. However, in 2017 sales plummeted for this titan, dropping nearly 40 percent and forcing the company to lay off nearly a quarter of its manufacturing workforce. Like many other gun companies, Smith & Wesson has struggled with its public image, especially as mass shooters have purchased and used its products.

Chapter 1: Manufacturers

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