The AK-47 (contraction of Russian: Автомат Калашникова образца 1947 года; Avtomat Kalashnikova obraztsa 1947 goda; "Kalashnikov's automatic rifle model of year 1947") is a classic symbol of popular revolution and the spread of Communist influence during the Cold War. Used by over eighty countries and used in countless conflicts since it's inception. Since then, it has gained a reputation as a tough and reliable weapon (also made infamous from its use in most terrorist organizations due to its reliability), capable of surviving the worst combat can throw at the gun (save being blown up or crushed flat) and being easy enough to operate and clean as to be used by children.
The two most common variants of the AK-47 are the AKM of Russia and the Type 56 of China. The AK-47 uses a Gas Operated Rotating Bolt, using the gasses produced by the bullet when fired to drive the receiver back and load another round. This allows the weapon to be fired in semi-automatic or fully automatic modes.
The AK-47 and most of its variants fire the 7.62x39mm round, a shortened variant of the standard rifle round used by the Soviets in WW2. Much like the rifle, the ammunition is also one of the most commonly used in the world, used by a variety of different weapons such as the Type-81 Assault Rifle and the RPK Light Machine Gun (it's self a derivative of the AK-47).
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The AK-47, like any weapon in a Zombie Outbreak scenario, has it's merits and it's disadvantages. The advantages of the AK-47 are its durability, reliability in adverse conditions, as well as having easy up-keep, and the easy availability of its ammunition. However, while it has a better range than it's Western rival, the M16 Assault Rifle it is less accurate at "long" ranges, about 300 yards. The AK-47 bullet losses it's speed quicker, meaning it does less more damage from a-far. It is also heavier than an M16 (11 pounds as opposed to the M16's 8) and it's ammunition is also heavier. And finally, it is less ergonomic and thus less comfortable to fire, further hampering it's accuracy.
The AK-47 is common in the Middle East, Africa, Asia, Eastern Europe and South America as a military weapon. In most other societies though, the AK-47 is likely restricted to a semi-automatic civilian version, if not completely banned altogether. Most modernized armies, including Russia, China and several Eastern European countries have replaced the AK entirely with newer and more accurate rifles.
If you do decide to use the AK against the undead horde, try to aim high. Due to the weapon's high recoil, try to keep your fire restricted to short bursts or else you will fire right over the heads of the undead, and waste valuable ammunition. If you are unsure of headshots, aim for their legs. The powerful round will likely severely damage muscle and bone, and thus restrict their movements and give you ample time to escape or give follow-up shots.