Abstracted from an industrial design philosophy and applied to small arms design and production.
Engineering, yes, is a must. The machinists ability is not really that important as it has been stated, though a good understanding is important. The machinist abilities will make a great Gunsmith, but not a designer. Machining, rifling, sighting and milling are fine, but they are not methods of design, but production. Design and R&D is very different from production and modification.
Areas with which you will need basic understanding:
Mechanical Engineering & some Metallurgy and Polymers (polymers becoming more important)
Ballistics and Ballistic Forensics
Physics
Biology
These are, of course, 'perfect world' areas of knowledge. If you do not possess ability in these areas you will need to find associates that do.
The design of a weapon is, as any precision product, complex and best served by teams of designers. There are very few visionaries such as J Browning. Such men just thought in that dimension. Most designers are not so.
Hmmm, that was kinda long.....[:)]
Zaz