Something else to consider.
the logical progression would be to also allow private ownership of artillery, rockets, missiles, nukes, etc.
Nukes would be out because plutonium is a "controlled substance" like crack. As for rockets and missles, they are like Machine guns, wth the proper licenses, you CAN build,own, and luanch them, Artillery is pretty much the same way, loo at all the black powder cannon being used by re-enactors. Besides that, none o these things are developed and marketed by "The US government, Even NASA buys from CIVILIA companies. If you can't possess etc, you can't develope and market.
Besides, if you are using them in a safe manner, with a safe backstop and all the awareness of surroundings that we preach with fire arms, why CA"T you have, missles, rockets and artillery ? The American Navystarted out with privately owned cannonon privately owned ships.