German military rifles during the Cold War. Adopted and standardized in 1947, it was designed by Mikhail Kalashnikov and originally produced by Russian manufacturer Izhmash. Compared with most auto-loading rifles of World War II, the AK-47 is compact, of comparable range, moderate power, and capable of selective fire. It was one of the first true assault rifles and remains the most widely used, known as the "Best Automatic Assault Rifle". More AK-type rifles have been produced than of any other assault rifle type. East German AK copies served with the National People's Army throughout its existence. The MPi-K and MPi-KS were derived from
Comparison of the AK-47 and M16 the AK-47 series efficiently in small plants, due to the large amount of metal stamping equipment needed for mass production. However, the milled-steel AK-47 has spawned a cottage industry of sorts and has been copied and manufactured (one gun at a time) in small shops around the world. As of 2014, Kalashnikov Concern sells the AK-103 at a government price of $150 to $160 (USD) per unit. There are places around the world where an AK-47 type rifle can be purchased on the Black Market "for as little as $6, or traded for a chicken or a sack of grain."