Smith & Wesson

Smith & Wesson Brands, Inc.
Company type	Public
Industry	Firearms manufacturing
Founded	1856; 170 years ago
Founder	Horace Smith, Daniel B. Wesson
Headquarters	Maryville, Tennessee, United States
Area served	Worldwide
Key people	Bob Scott (President, post-2001), Mike Golden (CEO, 2006)
Products	Firearms, cartridges, firearm accessories
Owner	Public shareholders
Website	www.smith-wesson.com

Smith & Wesson Brands, Inc. (commonly known as S&W) is a U.S.-based manufacturer of firearms, with its main office located in Maryville, Tennessee, United States.

The company was established in 1856 by Horace Smith and Daniel B. Wesson under the name "Smith & Wesson Revolver Company." This enterprise originated from their prior business, the "Smith & Wesson Company," which was later renamed Volcanic Repeating Arms after being sold to Oliver Winchester. Over the years, Smith & Wesson has undergone various ownership transitions, including periods under Bangor Punta and Tomkins plc, before being acquired by Saf-T-Hammer Corporation in 2001. Between 2014 and 2020, it operated as a division of American Outdoor Brands Corporation until it was spun off as an independent company in 2020.

Volcanic Repeating Arms

In 1852, Horace Smith and Daniel B. Wesson established the initial Smith & Wesson Company in Norwich, Connecticut with the goal of developing the Volcanic rifle. In 1854, Smith secured a patent for an innovative Volcanic cartridge. The firm was renamed Volcanic Repeating Arms in 1855 and subsequently sold to Oliver Winchester. Afterward, Smith relocated to Springfield, Massachusetts, whereas Wesson stayed on as plant manager for approximately eight months. Following financial difficulties in late 1856, the company was reorganized as New Haven Arms Company in 1857 and eventually evolved into the Winchester Repeating Arms Company by 1866.

Smith & Wesson Revolver Company

With the expiration of Samuel Colt's revolver patent in 1856, Wesson developed a prototype for a cartridge revolver. During this process, he learned that former Colt employee Rollin White held the patent for the crucial "bored-through" cylinder design needed for this type of firearm. Wesson reconnected with Smith, and together with White, they collaborated to manufacture a new revolver-and-cartridge system. After departing from Volcanic Repeating Arms in 1856, Wesson reunited with Smith to establish the Smith & Wesson Revolver Company, which laid the foundation for the current organization.

Rather than granting White partnership status, Smith & Wesson agreed to pay him a royalty of $0.25 per revolver sold. This arrangement left White responsible for defending his patent rights—a financially demanding obligation—while allowing Smith & Wesson to profit substantially.

19th century

During the American Civil War, Smith & Wesson revolvers were highly sought after by soldiers on both sides who used them for personal protection.

By 1860, demand for the Smith & Wesson Model 1 had outpaced production capabilities, necessitating factory expansion and development of cartridges beyond the original .22 Short. Simultaneously, Rollin White initiated legal action against manufacturers infringing on his patent; some competitors were compelled to label their revolvers as "Manufactured for Smith & Wesson."

White’s rigorous enforcement of his patent effectively restricted other U.S. arms makers from producing cartridge revolvers, which led to government criticism after the war for limiting advancements in firearm technology.

Following the conclusion of the Civil War and a decline in revolver sales, Smith & Wesson pivoted towards producing larger-caliber firearms tailored for frontier use. In 1870, they introduced the Smith & Wesson Model 3, a substantial .44 caliber revolver that became the first cartridge-firing sidearm adopted by the U.S. Army.

In 1899, the company released the .38 Military & Police (later known as Model 10), which emerged as the primary sidearm for American law enforcement agencies throughout much of the twentieth century, with over six million units manufactured. Additionally, roughly one million units were produced for use by the U.S. Military during World War II.

20th century

The period following World War II was marked by notable advancements for Smith & Wesson. In 1935, the company introduced the .357 Registered Magnum, the first revolver designed to fire the .357 Magnum cartridge, created to satisfy law enforcement's need for more powerful sidearms. This release launched what became known as the "Magnum Era" in handgun development. By 1957, the Registered Magnum had been updated and rebranded as the Model 27. Another significant milestone came in 1955 with the introduction of the Model 29, chambered in .44 Magnum and developed alongside ammunition expert Elmer Keith. This firearm achieved legendary status, largely due to its prominent role in the Dirty Harry movie series.

In 1965, control of Smith & Wesson shifted when the Wesson family sold their majority stake to Bangor Punta, a prominent American conglomerate. Under Bangor Punta's ownership, Smith & Wesson broadened its civilian product line by venturing into accessories such as holsters and police gear including handcuffs and breathalyzer devices. These strategic expansions boosted profitability and helped solidify Smith & Wesson’s position as a market leader by the end of the 1970s.

The 1980s brought challenges as Smith & Wesson’s market share declined, coinciding with U.S. law enforcement agencies transitioning from revolvers to European-manufactured semiautomatic pistols from companies like Glock, SIG Sauer, and Beretta amid intensified drug enforcement efforts. Between 1982 and 1986, the company experienced a 41 percent decrease in earnings.

In June 1987, British corporation Tomkins plc purchased Smith & Wesson for $112.5 million. Tomkins invested in upgrading manufacturing processes and strengthening quality assurance protocols. Despite these investments, firearm sales in the United States remained flat throughout the 1990s, affected in part by the Federal Assault Weapons Ban enacted in 1994 and a rise in legal actions targeting gun manufacturers. Following the Tobacco Master Settlement Agreement’s precedent, local governments increasingly sought to hold firearm companies liable through tort litigation.

Clinton agreement

On March 17, 2000, Smith & Wesson entered into an agreement with then-President Bill Clinton aimed at reforming firearm design and distribution practices. In return, the company gained access to a "preferred buying program," intended to mitigate revenue losses expected from a consumer boycott. The pact mandated that all dealers and distributors adhere to a "code of conduct," which prohibited sales to individuals barred by law and restricted firearm access to minors.

This agreement faced strong backlash from organizations such as the National Rifle Association of America (NRA) and National Shooting Sports Foundation (NSSF), which orchestrated opposition campaigns against Smith & Wesson’s endorsement of smart gun technology. The resulting boycott by thousands of retailers and consumers severely damaged sales figures. CEO Ed Schultz, who had brokered the deal, was compelled to resign in September 2000. By December of that year, Smith & Wesson’s stock price had fallen dramatically to just 19 cents per share. Under mounting financial pressure, the company ultimately discontinued its smart gun development efforts.

Acquisition

On May 11, 2001, Saf-T-Hammer Corporation purchased Smith & Wesson Corp. from Tomkins plc for US$15 million, a figure substantially lower than the US$112 million initially paid by Tomkins. Alongside the purchase price, Saf-T-Hammer took on US$30 million in debt, resulting in an effective total cost of US$45 million. Specializing in firearm safety solutions, Saf-T-Hammer intended to incorporate its security technology into every Smith & Wesson firearm, as outlined in a 2000 agreement.

The acquisition was spearheaded by Saf-T-Hammer’s President Bob Scott, who had previously served as a Smith & Wesson executive before departing in 1999 due to conflicts with Tomkins' management strategies. Following the acquisition, Scott assumed the role of Smith & Wesson’s president with the objective of revitalizing the company’s standing in the market. On February 15, 2002, the organization was renamed Smith & Wesson Holding Corporation.

Post-acquisition

By 2006, under the leadership of CEO Mike Golden, Smith & Wesson redirected its marketing efforts toward large retail chains to broaden its distribution network. On November 7, 2016, the company underwent a rebranding to become American Outdoor Brands Corporation.

In the years that followed, Smith & Wesson encountered increased public scrutiny due to its firearms being linked to several high-profile mass shootings involving models such as the M&P15 AR-15 style rifle. This heightened attention coincided with a significant drop in sales; shipments to distributors and retailers fell by 38.3% in 2017, leading to a reduction of 25% in its manufacturing workforce.

On August 24, 2020, American Outdoor Brands was separated as an independent entity and began trading publicly on NASDAQ, while Smith & Wesson retained the SWBI stock symbol. By January 2022, Smith & Wesson's market capitalization approached $880 million with annual revenues surpassing US$1 billion.

Cartridges

.22 Short — Derived from the original .22 Black Powder Rimfire cartridge but enhanced with a stronger smokeless powder load.
.32 S&W — Also referred to as .32 S&W Short.
.32 S&W Long — Known alternatively as .32 Colt New Police; produced for use in the Colt New Police Revolver.
.32-44 S&W — Exclusively chambered in the Model 3 Revolver until production ceased in 1898.
.38 S&W — Also called .38 Colt New Police and known as 38/200 in England.
.38-44 S&W — Comprises two distinct loadings; the latter served as a precursor to the .357 Magnum.
.38 S&W Special — Commonly referred to as ".38 Special".
.357 S&W Magnum — Popularly known as ".357 Magnum".
.40 S&W — Developed specifically for FBI use and introduced alongside the Model 4006 pistol in 1990; later adopted by Glock in 1997.
.41 Remington Magnum — Ammunition developed by Remington; Smith & Wesson manufactured the initial revolvers chambered for this caliber.
.44 American
.44 Russian — Noted as the first commercially successful centerfire handgun cartridge featuring an internally lubricated non-heeled bullet.
.44 S&W Special
.44 Remington Magnum
.45 S&W Schofield
.460 S&W Magnum
.500 S&W Magnum — Engineered to be the most powerful handgun cartridge worldwide.

Early handguns and revolvers

Smith & Wesson categorizes its revolvers by frame sizes: M (smallest), I, J, K, L, N (largest), and X (introduced in 2003 for the .500 S&W Magnum).

Tip-up models

Model 1
Model 1 1/2
Model No. 2 Army

Top-break models

S&W .38 Single Action—first Smith & Wesson revolver chambered in .38 caliber
Model 3—featured automatic ejection of spent cartridges for the first time
Double Action
Safety Hammerless (nicknamed "lemon squeezer")

I-frame (small) models

Model 30—six-shot revolver chambered in .32 caliber
Model 32 "Terrier"—five-shot revolver chambered in .38 caliber
Model 34 Kit Gun—a compact utility revolver designed for outdoor activities

J-frame (small) models

Model 36 "Chiefs Special"—the inaugural J-frame five-shot revolver introduced in 1950
Model 37 "Chiefs Special Airweight"
Model 60—the first all stainless steel revolver released in 1965
Model 340PD—first lightweight scandium alloy revolver weighing just 12 ounces
Model 617—eight-shot .22 LR featuring a lightweight alloy frame and cylinder
Bodyguard and Centennial series available in both standard and Airweight configurations

K-frame (medium) models

Model 10—the classic .38 Special formerly known as ".38 Military & Police"
Models 11 through 18—including various calibers and finishes such as stainless steel variants
Models like 19, 48, 53, 64–67—specialized calibers and police-oriented versions

L-frame (medium-large) models

Models including the alloy-framed 386, blued steel 586, and stainless steel 686—with options for increased cylinder capacity or adjustable sights

M-frame (extra small old) models

Ladysmith chambered in .22 Long

N-frame (large) models

The first N-frame appeared in 1908 chambered for .44 S&W Special
Model 1917—the first revolver designed for .45 ACP cartridges
Other notable models include Military M1950, Model 24 (.44 Special), Models 25 (.45 ACP/.45 Colt), along with iconic Models 27 (.357 Magnum), 28 ("Highway Patrolman"), and 29 (.44 Magnum)
Models like 57 and 58 (.41 Magnum) tailored for law enforcement purposes
Competitive shooting and law enforcement variants such as Model 610 (10mm Auto), Models 625, 627, and 629 offered diverse calibers and configurations

X-frame models

Chambered for high-powered cartridges including .350 Legend, .460 S&W Magnum, and notably the flagship .500 S&W Magnum—the most potent handgun cartridge available globally.

Z-frame models

Governor model

Modern revolvers are equipped with an internal locking system activated via a key that disables their operation for enhanced safety.

Semi-automatic pistols

During the early 1950s, as the U.S. Army sought a replacement for the Colt sidearm, Smith & Wesson introduced the Model 39—a pioneering double-action pistol that eventually became available to civilians after the Army discontinued its search.

This initial design was further refined through subsequent second- and third-generation models, which were identified by specific numbering systems indicating variations in materials and action types.

Notable semi-automatic pistol offerings include:

Bodyguard series chambered in .380 ACP
Model 22A and SW22 Victory in .22 LR
Model 39 (9mm), recognized as the first American-designed double-action pistol of this caliber
Models such as the Model 41, Model 52, and Model 59, with the latter being Smith & Wesson's inaugural high-capacity double-action pistol
Compact pistols like the Escort Model 61 (.22 LR)
Larger frame second-generation semi-autos including the Model 645 (.45 ACP), alongside third-generation variants like the Model 4506 (.45 ACP) and Model 5906

Sigma series

Launched in 1994 primarily for law enforcement, the Sigma lineup featured polymer frames paired with steel slides and barrels. The series encountered a patent dispute with Glock, which was ultimately resolved, allowing production to continue uninterrupted.

Models in this series consist of:

SW9 (9mm)
SW40 (.40 S&W)
SW357V (.357 SIG)
SW380 (.380 ACP)

SW99 Series

Developed through a partnership with Walther, this series offered Smith & Wesson-branded adaptations of Walther’s P99 pistol, incorporating unique slide and barrel components exclusive to S&W.

M&P Series

Introduced in 2005 with law enforcement users in mind, the M&P line presented a polymer-framed firearm that improved ergonomics over previous Sigma and SW99 models.

Available calibers include: 9×19mm, .40 S&W, FN 5.7×28mm, .22 WMR, .357 SIG, and later additions of .45 ACP.

The line also features compact and subcompact versions catering to various customer needs.

SD VE Series

Debuting in 2012 as an upgraded iteration of the discontinued SD series, these pistols boast enhanced trigger systems and improved grip ergonomics.

They are offered with either standard or reduced-capacity magazines tailored for self-defense purposes.

SW1911 Series

Since 2003, Smith & Wesson has produced modernized versions of the iconic M1911 chambered in .45 ACP. These incorporate contemporary safety enhancements and utilize materials such as stainless steel and scandium alloy for frames.

The Performance Center manufactures elite competition-grade models within this series.

Rifles and carbines

Smith & Wesson’s brief World War II-era production included the Model 1940 Light Rifle, which saw limited success.

The company reentered the rifle market in January 2006 with the M&P15 series—AR-15 style rifles designed for both civilian enthusiasts and law enforcement. Initially produced by Stag Arms, manufacturing has since transitioned largely in-house, with barrels supplied by Thompson/Center Arms.

Expanded rifle options comprise:

M&P15R chambered for a Russian-style cartridge (5.45×39mm)
M&P15-22 utilizing .22 Long Rifle ammunition

Additionally, Smith & Wesson developed synthetic-stock bolt-action i-Bolt rifles available in popular hunting calibers.

Recent introductions include:

The M&P FPC carbine chambered in 9mm (2023)
The lever-action Model 1854 rifle released in January 2024—the first lever-action firearm produced by Smith & Wesson since the mid-1800s

Submachine gun

In limited quantities during the late 1960s, Smith & Wesson produced the Model 76 submachine gun chambered in 9mm. This weapon accepted magazines compatible with Swedish K submachine guns.

Primarily adopted by police agencies, many of these firearms later entered civilian competitive shooting due to their manufacture date predating 1986 regulatory restrictions.

Shotguns

In 1972, Smith & Wesson obtained the patents and manufacturing equipment for a pump-action shotgun from Noble Manufacturing Co., which they marketed as the Model 916. This model encountered several quality control problems, including a recall related to barrel failures in the 916T takedown variant. The Model 916 was eventually replaced by the pump-action Model 3000 and the semi-automatic Model 1000, both produced by Howa Machinery in Japan. After being acquired by Tomkins plc, Smith & Wesson withdrew from the shotgun segment during the mid-1980s to concentrate exclusively on handguns.

During the 1980s, Smith & Wesson introduced the Smith & Wesson AS, an assault shotgun with full automatic capabilities.

In November 2006, Smith & Wesson announced their return to the shotgun market with two new product lines: the break-open Elite Series and the semi-automatic 1000 Series, which were showcased at the 2007 SHOT Show. Both lines were manufactured in Turkey. Alongside these launches, they initiated the Heirloom Warranty program, offering a distinctive lifetime warranty that extended coverage to both original purchasers and their heirs for all shotguns in the Elite Series. Production of both series ceased around 2010.

Most recently, in August 2021, Smith & Wesson broadened its M&P lineup by introducing the M&P12, a bullpup-style, pump-action 12-gauge shotgun. Designed to chamber 3-inch magnum shells, it features two independent magazine tubes capable of handling magnum, standard (2¾-inch), and mini-shell (1¾-inch) ammunition.

Other products

Smith & Wesson’s product range also includes various restraint devices such as handcuffs, leg irons, belly chains, and prisoner transport chains. Originally, the company manufactured handcuffs for Peerless, which held the patent for the first swinging-bow handcuffs dating back to 1912 but lacked its own production facilities. When Peerless eventually opened its own manufacturing plant, Smith & Wesson continued producing similar Peerless-style handcuffs under their own brand name.

The company’s portfolio further encompasses firearm accessories, safes, apparel, timepieces, collectibles, knives, axes, tools, air guns, emergency light bars, and other branded merchandise.

Among their notable knives are the model 6010 Bowie knife (1971) and the Texas Ranger Bowie knife (1973), designed by John Wilson and Roy G. Jinks. Additionally, Blackie Collins designed the model 6020 and 6060 Survival knives produced between 1974 and 1979. These limited-edition knives were manufactured at Smith & Wesson’s Springfield, Massachusetts facility.

In 2002, Smith & Wesson entered into a licensing partnership with Cycle Source Group to create law enforcement bicycles featuring custom specifications and silent hubs.

Their flashlight line is produced by PowerTech, Inc., located in Collierville, Tennessee. Furthermore, Smith & Wesson markets wood pellet grills named after pistol cartridges such as .22 Magnum and .44 Magnum.

The company also licenses tactical footwear for law enforcement through North Carolina-based Wellco Enterprises as part of its expanded offerings in law enforcement equipment.

External links

[Official site](https://www.smith-wesson.com)
Financial data: Nasdaq:SWBI, Bloomberg:SWBI:US, Reuters:SWBI.OQ, Yahoo Finance: SWBI