Per capita ownership of firearms in the US has doubled since 1968.
Jebb Harris, The Orange County Register/AP
Q: How big is the US firearms industry?
Its total economic impact on the United States this year is estimated at $31.8 billion, according to the National Shooting Sports Foundation. While that's less than 1 percent of the US gross domestic product, it's about what Americans spend on the arts in a year, and the equivalent of Nigeria's federal budget for 2013.
While tracking sales of firearms in the US is tricky, federal officials report that they were higher than ever in 2012. Through the end of November, the FBI had recorded 16.5 million background checks for gun purchases this year – the most since the FBI began tracking such data in 1998. The actual number of guns sold is higher, since registrants can buy multiple guns. Also, private sales and many gun-show sales do not require an FBI check. While no current figures are available, past estimates of private sales of firearms (no background check required) put the figure at 40 percent of all sales.
Q: What's driving the rise in gun sales in the US?
Two factors in recent history have tended to send gun sales soaring. Gun sales usually spike in the days after a mass shooting: Requests for background checks rose 41 percent in Colorado in the wake of the Aurora movie theater shooting in July, and similar spikes had followed Columbine in 1999 as well as the 2011 shooting in Tucson, Ariz., that wounded then-US Rep. Gabby Giffords. After the Newtown tragedy, gun sales have been setting new records in several states.