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Weapon Foundries are the arms manufacturing corporations of the City. The names of each weapon foundry is introduced in the Destiny base game, but they play a much bigger role in The Taken King.
According to Commander Zavala, the weapon foundries began from the traditions of tribal scavengers who repaired and restored the ancient technology of the Golden Age. These gunsmiths eventually became the large corporations of the City, but they became a potential threat to the City's common good (likely referring to involvement in the Faction Wars). The City now monitors the size of the weapon foundries, and the surviving foundries continue to use new discoveries to improve the Guardian arsenal.[1]
Each foundry has their own unique style and feel, emphasizing different design philosophies.