This is the glorious Fireball XL5 rifle. I assume it was released during the show's run between 1962 and 1963. From the pictures I've seen it is a beautiful toy, reminiscent of the jet age style of Renwal's lovely ray gun and helmet pictured below.
Despite not being able to find out who made the Fireball Xl5 rifle, certain parts of it do remind me of other toys, namely the Johnny Seven and the Tigrett Zoomeray. You can see the similarities below. I've also seen that big red butt cylinder somewhere but cannot think where.
The Fireball XL5 rifle has a number of clones. Whether these are forerunners or successors its hard to say, another Anderson chicken and egg. Perhaps a very detailed timeline of the different additions would provide the answer but in the meantime here are the 'other' Fireball rifles collated from many online sources.
Capitan Marte, Spain
[the clone of clones, a near perfect copy of the Fireball XL5 rifle]
Tada Tommy Kick 1970
English biox seen on Main Street Toys website 2015
Tada Tommy kick Japanese box 1970
Tada Sound of Space 1970
[note the change of butt style and the addition of the sound box and radar similar to the Ideal Man from Uncle Thrush Gun]
Interstellar Gun ST-302
[a copy of Tada's Sound of Space]
images copyrights held with named owners.