Are Israelis allowed to carry firearms?

I'm not Jewish, so I don't know the particulars of your country's gun laws. Since all Jewish males are required to serve in the IDF, does that mean after their service is completed, they have the right to carry? What limits are there? I saw video of those Arab children stoning a car in East Jerusalem last week--if that had happened to me I would have shot those Arab boys in the head. At least here in America, self-defense is still not considered politically incorrect.