People are buying more guns, and there are a lot of new gun owners. In 2020, 20 percent of American gun purchasers had never before bought a firearm. Thirty-nine percent of people recently polled in the United States own at least one pistol, rifle, or shotgun, according to the General Social Survey, and FBI background checks tracked a 41 percent increase in gun ownership from 2019 to 2020. That adds up to 8.4 million new owners. These gun owners need ammunition. So, the demand side of the equation is easy to see.
Supply of ammunition is also a concern. People stocked up on rounds during the Covid-19 pandemic amid panic about the dwindling supply. Imports of ammunition fell 34 percent during the worst days of quarantine in 2020. There were periods during the pandemic when gun and ammo production stopped. Gun owners sensed these shortages and snapped up firearms and ammunition.
