Smith & Wesson Brands, Inc. (S&W) is an American firearm manufacturer headquartered in Maryville, Tennessee, United States.

Smith & Wesson was founded by Horace Smith and Daniel B. Wesson as the “Smith & Wesson Revolver Company” in 1856 after their previous company, also called the “Smith & Wesson Company” and later renamed as “Volcanic Repeating Arms”, was sold to Oliver Winchester and became the Winchester Repeating Arms Company. The modern Smith & Wesson had been previously owned by Bangor Punta and Tomkins plc before being acquired by Saf-T-Hammer Corporation in 2001. Smith & Wesson was a unit of American Outdoor Brands Corporation from 2016 to 2020 until the company was spun out in 2020.^[2]

History[edit]

Volcanic Repeating Arms[edit]

Horace Smith and Daniel B. Wesson founded the Smith & Wesson Company in Norwich, Connecticut in 1852 to develop the Volcanic rifle. Smith developed a new Volcanic Cartridge, which he patented in 1854. The Smith & Wesson Company was renamed Volcanic Repeating Arms in 1855 and was purchased by Oliver Winchester. Smith left the company and returned to his native Springfield, Massachusetts, while Wesson stayed as plant manager with Volcanic Repeating Arms for eight months.^[3] Volcanic Repeating Arms was insolvent in late 1856, after which it was reorganized as the New Haven Arms Company in April 1857 and eventually as the Winchester Repeating Arms Company by 1866.^[4]

Smith & Wesson Revolver Company[edit]

As Samuel Colt’s patent on the revolver was set to expire in 1856, Wesson began developing a prototype for a cartridge revolver. His research pointed out that a former Colt employee named Rollin White held the patent for a “bored-through” cylinder, a component he would need for his invention. Wesson reconnected with Smith, and the two partners approached White to manufacture a newly designed revolver-and-cartridge combination.^[3] After Wesson left Volcanic Repeating Arms in 1856, he rejoined Smith to form the Smith & Wesson Revolver Company, which would become the modern Smith & Wesson company.^[4]

Rather than make White a partner in their company, Smith & Wesson paid him a royalty of $0.25 on every revolver they made. This arrangement left White responsible for defending his patent, which eventually led to his financial ruin, while it was very advantageous for Smith & Wesson.^[3]

19th century[edit]

Smith & Wesson’s revolvers came into popular demand with the outbreak of the American Civil War as soldiers from all ranks on both sides of the conflict made private purchases of the revolvers for self-defense.^[5]

The orders for the Smith & Wesson Model 1 revolver outpaced the factory’s production capabilities. In 1860 demand volume exceeded the production capacity, so Smith & Wesson expanded into a new facility and began experimenting with a new cartridge design more suitable than the .22 Short that it had been using.^[5]

At the same time, the company’s design was being infringed upon by other manufacturers, which led to numerous lawsuits filed by Rollin White. In many of these instances, part of the restitution came in the form of the offender being forced to stamp “Manufactured for Smith & Wesson” on the revolvers in question.^[5]

White’s vigorous defense of his patent caused a problem for arms makers in the United States at the time as they could not manufacture cartridge revolvers. At the war’s end, the U.S. Government charged White with causing the retardation of arms development in America.^[5]

Demand for revolvers declined at the close of the Civil War, so Smith & Wesson focused on developing arms suitable for use on the American frontier. In 1870 the company switched focus from pocket-sized revolvers to a large frame revolver in heavier calibers (.44 S&W American). The U.S. Army adopted this new design, known as the Smith & Wesson Model 3, as the first cartridge-firing revolver in U.S. service.

In 1899, Smith & Wesson introduced its most widely used revolver, the .38 Military & Police (also known as the Smith & Wesson Model 10). With over 6 million produced, it became the standard sidearm of American police officers for much of the 20th century.^[6] An additional 1 million of these guns were made for the U.S. Military during World War II.^[6]

20th century[edit]

The post-war periods in the 20th century were times of great innovation for the company. In 1935 Smith & Wesson released the .357 Registered Magnum, which was the first revolver chambered for .357 Magnum. It was designed as a more powerful handgun for law enforcement officers. The Registered Magnum started the “Magnum Era” of handguns. In 1957, when S&W started issuing model numbers to its revolvers, the revolver that had started as the Registered (and later the postwar .357 Magnum) became the Model 27. The high point was in 1955 when the company created the Smith & Wesson Model 29 in .44 Magnum. The Dirty Harry movies made this gun a cultural icon two decades later.^[7]

In 1965, the Wesson family sold its controlling interest in Smith & Wesson to Bangor Punta, a prominent American conglomerate.^[8] Over the next decade, Bangor Punta diversified the company’s civilian sales to include related gun products (such as holsters) as well as offering additional police equipment (such as handcuffs and breathalyzers).^[6] By the late 1970s these profitable moves made Smith & Wesson “the envy of the industry” according to Business Week.^[9]

Despite these advantages, Smith & Wesson’s market share began declining in the 1980s. As the war on drugs intensified in the United States, police departments all across the country replaced their Smith & Wesson revolvers with European semiautomatics (such as Glock, Sig Sauer and Beretta).^[10] From 1982 to 1986 profits at the company declined by 41 percent^[6]

In June 1987, Tomkins plc paid $112.5 million to purchase Smith & Wesson.^[11] Tomkins modernized the production equipment and instituted additional testing which significantly increased product quality.^[6] However, new gun sales in the United States lagged in the 1990s, some of which was attributed to the Federal Assault Weapons Ban of 1994. Also, there were numerous city and state lawsuits against Smith & Wesson. After the success of the Tobacco Master Settlement Agreement, municipalities thought they might be able to succeed through tort law against the gun industry as well.^[12]

21st century[edit]

Clinton agreement[edit]

On March 17, 2000, Smith & Wesson made an agreement with U.S. President Bill Clinton under which it would implement changes in the design and distribution of its firearms,^[13] in return for “preferred buying program” to offset the loss of revenue as a result of the anticipated consumer boycott.^{[citation needed]} The agreement stated all authorized dealers and distributors of Smith & Wesson’s products had to abide by a “code of conduct” to eliminate the sale of firearms to prohibited persons, and dealers had to agree to not allow children under 18 (without an adult present) access to gun shops or sections of stores that contained firearms.^[13]

In response, the National Rifle Association of America (NRA) and National Shooting Sports Foundation (NSSF) organised a campaign over the issue of smart guns.^[14] Thousands of retailers and tens of thousands of firearms consumers boycotted Smith & Wesson.^[15][16] CEO Ed Schultz, who negotiated the deal, was forced out in September of that year.^[17] By December 2000, the company’s stock price was 19 cents per share.^[18] Smith & Wesson dropped its smart gun plans after nearly being driven out of business.^[19]

Acquisition[edit]

On May 11, 2001, Saf-T-Hammer Corporation acquired Smith & Wesson Corp. from Tomkins plc for US$15 million, a fraction of the US$112 million originally paid by Tomkins.^[20] Saf-T-Hammer assumed US$30 million in debt, bringing the total purchase price to US$45 million.^[21][22] Saf-T-Hammer, a manufacturer of firearms locks and other safety products, purchased the company with the intention of incorporating its line of security products into all Smith & Wesson firearms in compliance with the 2000 agreement.

The acquisition of Smith & Wesson was chiefly brokered by Saf-T-Hammer President Bob Scott, who had left Smith & Wesson in 1999 because of a disagreement with Tomkins’ policies. After the purchase, Scott became the president of Smith & Wesson to guide the 157-year-old company back to its former standing in the market.^[23]

On February 15, 2002, the name of the newly formed entity was changed to Smith & Wesson Holding Corporation.^[24]

Post-acquisition[edit]

In 2006 Smith & Wesson refocused its marketing on big box retailers, according to Smith & Wesson CEO Mike Golden in a 2008 conference call with investors.^[25]

On November 7, 2016, Smith & Wesson Holding Corporation changed its name to American Outdoor Brands Corporation.^[26] The next years saw increased scrutiny by some due to the use of its firearms in mass shootings such as the 2018 Stoneman Douglas High School shooting, in which a Smith & Wesson AR-15 style rifle, the semi-automatic M&P15 was used. The same weapon was used in the 2015 San Bernardino attack and the 2012 Aurora, Colorado shooting.^{[27][28][29][30]}

In 2017 Smith & Wesson saw a severe contraction in its sales as units shipped to distributors and retailers declined 38.3%. The company was forced to lay off one-fourth of its manufacturing workforce.^[31]

On August 24, 2020, American Outdoor Brands was spun-off from Smith & Wesson, with S&W retaining the stock ticker SWBI and American Outdoor Brands becoming a new publicly traded company on the NASDAQ as American Outdoor Brands, Inc.^[2]

As of January 2022, SWBI had a market value of around $880 million, with revenues a little over US$1 billion ^[32]

Cartridges[edit]

Smith & Wesson has produced revolvers over the years in several standard frame sizes. M refers to the small early Ladysmith frame, I to the small .32 frame, J to the small .38 frame, K to the medium .38 frame, L to the medium large .38 and .44 Magnum frame, and N to the largest .44 Magnum type frame.^[38] In 2003, the even larger X frame was introduced for the .500 S&W Magnum.

M-frame (extra small old) models Smith & Wesson Ladysmith—Ladysmith in .22 Long. N-frame (large) models (formerly S-frame) .44 Hand Ejector First Model “New Century”—first N-frame, introduced in 1908. The first chambering of .44 S&W Special.[43] Model 1917—first revolver chambered for .45 ACP[45] Smith & Wesson Model 22—.45 ACP/.45 Auto Rim; also called the M1950 Military; Base for the 2nd issue Thunder Ranch Revolver; This was the evolution of the M1917 revolver.[48] Smith & Wesson Model 24—The original .44 Special Hand Ejector was renamed the Model 24, since discontinued. Smith & Wesson Model 25—similar to the Model 29, but chambered for the .45 ACP/.45 Auto Rim and later, the .45 Colt cartridge. The best known, and most common, variants of this revolver are the Model 25-2 (.45 ACP) and Model 25-5 (.45 Colt).[43] Smith & Wesson Model 27—first .357 Magnum; usually a custom or limited-run revolver, with a deep blue lustre[39] Smith & Wesson Model 28—”Highway Patrolman” .357 Magnum; fewer frills than the Model 27, same performance; marketed to police for its reduced price and equal performance.[39] Smith & Wesson Model 29—first .44 Magnum by S&W, made famous by its appearance in the film Dirty Harry[39] Smith & Wesson Model 57—first .41 Magnum; initiated and sponsored by Elmer Keith and others, top end premier model identical in features, fit, and finish to .44 Magnum Model 29.[39] Smith & Wesson Model 58—.41 Magnum; 4-inch barrel with fixed sights; marketed as basic, entry-level police duty revolver offering greater power than .38/.357 revolvers when using a reduced power .41 Magnum police load.[43] Smith & Wesson Model 610. A 6-shot revolver chambered for the 10mm Auto cartridge. [43] Smith & Wesson Model 625—used by Jerry Miculek in .45 ACP to set the world record for 12 rounds (with one reload) on target in 2.99 seconds[39] Smith & Wesson Model 627—8-shot .357 Magnum, adjustable sights, stainless steel, 2.5″ or 5″ barrel, removable compensator, Performance Center.[48] Smith & Wesson Model 629—6-shot .44 Magnum, adjustable sights, stainless steel, 2.5″, 4″ or 6″ barrel.[48]

X-frame models Smith & Wesson Model 350 7-shot .350 Legend Smith & Wesson Model 460 5-shot .460 S&W Magnum [49] Smith & Wesson Model 500 5-shot .500 S&W Magnum [49] — designed to be the most powerful handgun in the world [50] Z-frame models Smith & Wesson Governor[49]

Most Smith & Wesson revolvers have been equipped with an internal locking mechanism since the acquisition by Saf-T-Hammer. The mechanism is relatively unobtrusive, is activated with a special key, and renders the firearm inoperable. Most gun enthusiasts prefer to keep their gun unlocked.^[51][52]

Semi-automatic pistols[edit]

In 1953 the U.S. Army was looking for a pistol to replace the Colt 1911A1.^[39] To obtain a bid from the U.S. Government, Smith & Wesson began working on a design similar to the German Walther P38.^[39] A year later the Army dropped its search and Smith & Wesson introduced its pistol to the civilian shooting market as the Model 39.^[39]

The Model 39 would come to be known as a first-generation pistol. Since the Model 39 debuted, Smith & Wesson continuously developed this design into its third-generation pistols, which have now been discontinued. The first-generation models use a 2-digit model number, the second generation use 3 digits, and third-generation models use 4 digits.

• Smith & Wesson Bodyguard 380^[53]
• Smith & Wesson Model 22A^[53]
• Smith & Wesson SW22 Victory
• Smith & Wesson Model 39—first U.S.-designed double-action pistol in 9×19mm^[39]
• Smith & Wesson Model 41^[53]
• Smith & Wesson Model 52^[53]
• Smith & Wesson Model 59—S&W’s first high-capacity double-action pistol in 9 mm Parabellum^[39]
• Smith & Wesson Model 61—Debuting in 1970, the pocket ‘Escort’ was a tiny automatic .22LR pistol, designed to be cheap and easily concealable. It was available in blued or nickel-plated with black or white plastic grips. Production stopped in 1973.^[53]
• Smith & Wesson Model 78G^[53]
• Smith & Wesson Model 1913 also known as Model 35
• Smith & Wesson Model 439— updated model 39^[44]
• Smith & Wesson Model 459—S&W’s entry into the US Army’s XM9 program^[44]
• Smith & Wesson Model 469^[39]
• Smith & Wesson Model 645 second-generation large frame semi-auto in .45 ACP^[53]
• Smith and Wesson 539
• Smith & Wesson Model 908^[39]
• Smith & Wesson Model 909^[44]
• Smith & Wesson Model 910^[39]
• Smith & Wesson Model 915^[44]
• Smith & Wesson Model 1006—stainless steel 10mm Auto^[39]
• Smith & Wesson Model 1026 with a frame-mounted decocker^[39]
• Smith & Wesson Model 4006^[39]
• Smith & Wesson Model 4506 third-generation large frame semi-auto in .45 ACP ^[39]
• Smith & Wesson Model 5906^[39]

Along with the myriad smaller configurations, the mid-sized 4516, 457, the Chiefs Special CS45, and the decocker equipped, 4546, 4566 and 4576, and the 45 TSW, the 4553, still being issued to the West Virginia State Troopers.^[53]

For many of the second-generation models, the first digit identified the material used in the frame; thus the first digit of 4 indicated an alloy, the first digit of 5 indicated blued steel, and the first digit of 6 indicated stainless steel. For most of the third-generation models, the first two digits identified the calibre (except for 59/69 for 9mm), the last two digits were for the action style and the material, respectively. Action style numbers were typically 0 for the standard double/single-action and 4 for double-action-only. Material numbers were commonly 3 for aluminium, 4 for blued steel, and 6 for stainless steel.^{[citation needed]}

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