The global demand for Parachutes Market is presumed to reach the valuation of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% during the period of 2022-2028.
Parachute is domed like shape devices used for creating a drag through the atmosphere to slow down the motion of an object. They are commonly made using lightweight and robust fabric such as silk or nylon and reinforce handholds. The drag chute is a type of parachute attached to racer car or fixed-wing aircraft to the deaccelerate motion of that vehicle. Round, ram-air, ring, cruciform, pull-down apex are the types of parachutes. Parachutes are commonly used in the military sector for search and rescue operations, solo operations and training, purpose.
The growing demand for parachutes in the military sector is a significant factor expected to drive the global parachute market's growth. Parachutes are also utilized in microlights, light aircraft, and hang gliders for ballistic purposes. Rising deployment of drogue chutes or break chutes to slow the object and provide control and stability to the rapidly moving object is also anticipated to fuel the demand and drive the growth of the global market. Moreover, the growing trend of adventure sports such as skydiving, para jumping, paragliding, paramotoring, etc. is also expected to support parachutes' demand during the forecast period. Further, a rise in the number of individuals participating in recreational adventure sports across the globe is another factor foreseen to boost the growth of the target market in the near future. However, the decline in demand for advanced parachutes from many countries due to military budget constraints may hamper the growth.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of parachutes.
The entire parachutes market has been sub-categorized into product type, application. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
By Product Type
- Ram-air Parachute
- Round Parachute
- Rogallo-wing parachutes
- Annular parachutes
- Cruciform parachutes
- Rescue and Recovery
- Break Chutes
This section covers regional segmentation which accentuates on current and future demand for parachutes market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Parachutes Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the parachutes market include Airborne Systems Inc., Mills Manufacturing Corporation, Butler Parachute Systems, Inc., Spekon Aircraft & Aerospace GmbH, Fxc Corporation, Cimsa Ingenieria de Sistemas SA, Zodiac Aerosafety Systems, SA, The Cirrus Design Corporation, Butler Parachute Systems, Inc., NH Global Sdn Bhd. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.