Readers have already been briefed, on multiple occasions, of the developing ammo shortage this year.
Fears Of Nationwide 9MM Ammo Shortage Sparks Panic Hoarding
Surging Gun Sales Triggers Second Ammo Shortage Of This Year
We first shined the spotlight on surging gun and ammo demand at the start of the virus pandemic. Then found demand for weapons and bullets rose in early summer as social unrest unfolded.
Now the Financial Times sheds more color from within gun and ammo manufacturers and distributors of the unprecedented demand in the last six months.
Arizona-based Ammo Inc, an ammunition manufacturer, reported 2Q20 revenues jumped 125% to $9.7 million. Fred Wagenhals, chief executive of Ammo, said there had been an "extraordinary" demand for its retail hunting, sports shooting, and self-defense products. He said the company is working through a record $45 million backlogs in orders.
Mark Hanish, Ammo's president of global sales and marketing, described ammo demand for semi-automatic handguns and the AR-15 as "intense."
"In past [election] run-ups, your traditional folks who were already gun owners would purchase more. This is brand new people," Hanish said, attributing the influx of new buyers to the confluence of the pandemic, the election and concern about "civil unrest and uncertainty."