The famous American gunmaker Colt Defense filed for bankruptcy earlier in June after failing to secure recent military contracts.
Poor management and a bad business structure meant that the company – which produced the M-16 and M4 for the US Army – was unable to respond to increasing complaints about the reliability of its products over the past decade.
The company had hoped to win a USMC hand gun deal.
The final nail in the coffin was the decision in February 2013 by the US military to opt for Belgian weapons manufacturer FN Herstal to make M4A1s, after a long battle involving legal protests.
But what does this mean for the gun making industry?
With the removal of a major rival will the remaining companies have room to expand and take up the space, or was the marketplace too crowded in the first place?