IMARC Group’s latest research report, titled “Parachute Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
What is the projected market value of the global Parachute Market?
The global parachute market reached a value of US$ 564.3 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 809.6 Million by 2027 exhibiting a CAGR of 5.70% during 2022-2027.
Parachutes are dome-shaped safety devices that slow the vertical descent of an individual or object falling through the atmosphere. They are manufactured using strong, lightweight fabrics, such as silk and nylon, and reinforce handholds. They create drag and increase air resistance during free fall to slow down the motion of the moving body and prevent or reduce injury and impact when landing on the ground. And, They also slow the speed of a returning space capsule after re-entering the earth’s atmosphere. As a result, parachutes are widely utilized in the aviation industry, recreational activities, and military applications.
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Important Attribute and highlights of the Report:
- Detailed analysis of the global market share
- Market Segmentation by type, fabric material and application and region.
- Historical, current, and projected size of the market in terms of volume and value
- Latest industry trends and developments
- Competitive Landscape for Parachute Market
- Strategies of major players and product offerings
The global parachute market is primarily driven by its growing adoption in the military and defense sector for training, transportation, joint-para trooping, and distribution. Additionally, there has been widespread adoption of parachutes for ballistic purposes in hang gliders, microlights, unmanned aerial vehicles (UAVs), and light aircraft to reduce their kinetic energy while landing and descending. In line with this, the increasing product applications in aircraft to provide stable and controlled landing on icy and wet runways has augmented the demand for parachutes.
Moreover, the surging interest of individuals in adventure sports, such as skydiving, parachuting, paragliding, and paramotoring, has accelerated product adoption rates. Furthermore, the launch of innovative and lightweight military parachutes equipped with global positioning systems (GPS) to ensure a safe landing on uneven surfaces has catalyzed market growth. Other factors, including emerging applications in the oil and gas industry, ongoing research and development (R&D) activities, and technological advancements, are also anticipated to create a favorable market outlook.
Key Players Included in Global Research Report:
- Aerodyne Research LLC
- Airborne Systems (TransDigm Inc.)
- BAE Systems plc
- Ballenger International LLC
- Butler Parachute Systems Inc.
- Cimsa Ingeniería de Sistemas S.A.
- Fxc Corporation
- Mills Manufacturing Corporation
- NH Global Sdn Bhd
- Parachute Systems
- Precision Aerodynamics
- Sachsische Spezialkonfektion GmbH.
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COVID-19 Impact on Market: (Positive Impact)
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Segmentation:
Breakup by Type:
- Round Parachute
- Cruciform Parachute
- Ram-Air Parachute
- Others
Breakup by Fabric Material:
- Nylon
- Silk
- Kevlar
- Others
The Breakup by Application:
- Military
- Cargo
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
TOC for the Parachute Market Research Report:
- Preface
- Scope and Methodology
- Executive Summary
- Introduction
- Global Parachute Market
- SWOT Analysis
- Value Chain Analysis
- Price Analysis
- Competitive Landscape
If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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