Global Parachute Market Size & Forecast by 2030
The Global Parachute Market is rising due to the rise in the tourism
and aerial activities like skydiving, bungee jumping, etc and the innovations
in the parachute industry for military purposes is driving the Global Parachute
Market.
According
to TechSci Research report, “Parachute Market- Global
Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2030”, The Global Parachute Market is growing due to the popularity of extreme sports like skydiving
and bungee jumping among those who enjoy adventure. Similarly, the nations worldwide
are expanding their military capabilities and military exercises are also
increasing the global market penetration of the parachute. One of the key
factors driving the market is the increasing use of parachutes in the military
and defense industries for troop distribution, transportation, and training.
Parachutes are also used for ballistic purposes in microlights, light aircraft,
and hang gliders. This, along with the increasing use of drogue chutes in
aircraft to provide control and a stable landing on wet and icy runways, is
propelling market growth. In addition, major players in the market are making
significant investments in research and development (R&D) activities to
produce improved product variants that will meet the needs of the end users. In
order to boost their overall sales and profitability, these players are also
concentrating on mergers and acquisitions. Additionally, the adoption of
airplane recovery parachute systems and the prevalence of modern technology in
parachute systems are expected to contribute to the expansion of the worldwide
parachute market during the forecast years.
The factors like unavailability of standing inventory
of parachute in the military and defense operations across the globe is
expected to generate new opportunities in the market in the forecast years, as End
users and investors will benefit greatly from the introduction of
technologically advanced military parachutes and with the rise in the research
and development activities of the advanced parachutes the market is expected to
see technologically advanced parachutes for military purposes. at the same time
the ongoing Russia and Ukraine war has led the developing nations to strengthen
and enhance their military capabilities all these factors are expected to drive
The Global Parachute Market in the forecast period. The rise in the usage of
parachutes in unmanned aerial vehicle is also the reason for the growth and the
market is expected to generate good results in the forecast years across the
globe.
Browse more than XX market data Figures spread through XX Pages and an in-depth TOC on "Global Parachute Market".
The Global Parachute
Market can be segmented based on Product type, Fabric material type, application
type, region, and by company. Based on Product type, the market is further
segmented into Round Parachute, Cruciform Parachute, Rogallo-wing Parachute,
Annular
Parachute, and Ram-air Parachute. Based on Fabric Material type, the market is
segmented into Nylon, Silk, and Kevlar. Based on application, the Parachute
Market is divided into Military, Commercial, Cargo,
and Sports.
Some of the major companies operating in the Global parachute Market
include:
- Zodiac Aerospace S.a.
- Mills Manufacturing Corporation
- Aerodyne Research LLC
- BAE Systems PLC
- Spekon GmbH
- Airborne Systems North America, Inc.
- CIMSA Ingenieria De Sistemas SA
- FXC Corporation
- Ballenger International LLC
- Rostec State Corp
These are the key players
developing advanced technologies and launching new products to stay competitive
in the market. Other competitive strategies include mergers with the research
and development firms, new product developments, and marketing activities to
increase customer outreach. These companies are also focusing on meeting the
regulations of different regional governments and are also partnering with
different defense research bodies to stay competitive in the market.
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“North
America and Europe captures majority of the market share and in the forecast
period these regions are expected to increase their market penetration, as the countries in the region are
strengthening the capabilities of their airborne platoons, and the rise in the
adoption of the parachutes in the military activities is also the reason for
growth, so the overall all these factors will generate new opportunity for the
global Parachute market” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based global management consulting firm.
“Parachute Market- Global Industry Size, Share,
Trends, Competition, Opportunity, and Forecast, 2018-2030” has
evaluated the future growth potential of Global Parachute Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in the global Parachute market.
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