By Rob Southwick & Cody Larrimore
This article takes a look at the handgun accessory market. Our focus will be to report the overall size of each category, and share some insights regarding consumers’ preferences and motivations.
According to research compiled by Southwick Associates, handgun owners spent roughly $182 million on new handgun accessories in 2015. Of these dollars, $66.05 million (36%) was spent on magazines and muzzle devices (suppressors). The remaining balance was made up of caliber conversion kits ($62.96 million), grips ($26.64 million), trigger assemblies/triggerguards ($9.92 million) and barrels ($17.24 million).
Southwick Associates’ trade monitoring services, HunterSurvey and ShooterSurvey, track consumer preferences and purchasing habits. For calendar year 2016, 57 percent of all handgun accessory purchases tracked by HunterSurvey were magazines. The top brands, in no specific order, for magazines purchased for handguns included Smith & Wesson, Ruger and GLOCK. The average price of a magazine purchased in 2016 was $30; websites represented the greatest source of purchases (46%) made by customers.
Grips follow magazines with 22 percent of all handgun accessories purchased. Top brands include Hogue, Herrett’s and Magpul among others. The average price of a grip purchased in 2016 was $45.
With an understanding of how big the market is, and the types of accessories firearm owners are purchasing, let’s discover who is buying handgun accessories. Men make up the largest group of consumers purchasing handgun accessories. Thirty-four percent of buyers are males between 45 and 54 years old. Males between 25 and 34 years old represent 18 percent of buyers. Those buying handgun accessories are almost all male at (97%). Additionally, research shows they’re an educated group: 81.4 percent have at least ‘some college education.’
To learn more, contact Southwick Associates at info@nullSouthwickAssociates.com or visit www.southwickassociates.com.