Izhmash, the factory where the AK-47 was first produced, was renamed Kalashnikov Concern in honor of Mikhail Kalashnikov. This rebranding aimed to capitalize on the global recognition of the Kalashnikov name.

Kalashnikov Concern continues to produce a wide range of firearms and military equipment, including updated versions of the AK-47 and new designs. The company also expanded into civilian markets, producing sporting rifles and hunting shotguns.

Mikhail Kalashnikov's legacy as a pioneering firearms designer remains secure. The AK-47 is recognized worldwide as one of the most influential and ubiquitous weapons of the 20th and 21st centuries. His contributions to small arms technology have had a profound impact on military history.