A study of data on firearms-related offences by the Centre for Crime and Justice Studies (CCJS) said many victims were reluctant to alert police.
Crimes missing from the official statistics may even include incidents where guns were fired, but which did not lead to injuries, the paper said.
The CCJS, which is based at King’s College, London, called on ministers to focus on social and economic solutions to gun crime.
Its report said: “Given the frequently noted reluctance (often underpinned by fear of reprisals) of many gun crime-affected communities to provide evidence to the police, and the strong 'no grassing’ conventions in gang cultures, it is likely that much gun crime - especially incidents involving only intimidation, or firearms discharges resulting in either no injuries or only minor injuries - goes unreported.”