SCOTTSDALE, AZ (3TV/CBS 5) -- Scottsdale-based ammunition company Ammo Incorporated is facing an $80.1 million order backlog amid record demand for ammunition.
"We're working right now seven days a week, 24 hours a day in all the manufacturing plants," said CEO Fred Wagenhals.
The company manufactures a wide range of ammunition at its facilities in Payson, Arizona, and Manitowoc, Wisconsin.
"We just bought 2.8 million dollars worth of machinery and equipment last week to increase our production and increase our volume," Wagenhals said.
According to the National Shooting Sports Foundation, the year has already seen a boom in gun purchases, up 95% in the first half of 2020 compared to the same time period of 2019.
But ammo sales skyrocketed even higher, up 139% compared to 2019 during that same time period.
"The start was the pandemic that was going on. But there was always that fear of the election. Of who's going to be elected of the next President of the United States," Wagenhals said. "But thirdly, I think the unrest in this country right now. And as you've seen in a lot of cities, the looting and the burning, and I think people are just scared."
Regardless of the motivations, it's meant this company has been growing even amid an economic downturn.
"We're a $200 million company in the next 18 - 24 months," Wagenhals said.