Gun sales reached nearly 15 million by the end of August, outpacing the total number of sales made in 2019 by 1 million.
Sales are also expected to surge in the fall with the beginning of deer season and growing concern for what a Joe Biden presidency could mean for gun control.
"With the hunting season about to begin in earnest and the presidential election season about to start in earnest as well, 2020 will, without doubt, exceed the previous high of 16.6 million units sold in 2016," said Jurgen Brauer, the chief economist with Small Arms Analytics & Forecasting.
SAAF said it estimated that 1.8 million firearms were sold during August, a year-over-year increase of 57.8% from the year before. It also estimates that single handgun sales increased by 66% and single long-gun sales increased by 48.4% from the year before.
Industry trade group National Shooting Sports Foundation reported that 2020 has seen 5 million new gun owners.