Parachute Market PPT: Demand, Trends and Business Opportunities 2022-27

Author: Elena Anderson

Marketing Manager

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Global Parachute Market Research Report 2022-2027:

According to the latest report by IMARC Group, titled " Parachute Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-202 7

," the global parachute market reached a value of US$ 564.3 Million in 2021.

A parachute refers to a piece of dome-shaped equipment that enables a horizontally moving individual or object to descend slowly on the land by increasing air resistance and creating drag during free fall. Apart from this, a parachute reduces a load of an individual sufficiently to avoid injury while reaching the ground, minimizes descending speed, and maintains greater control of airspeed. It is manufactured by sectioning two layers of strong, lightweight silk or nylon fabric material into long-tubular cells. At present, parachutes are commercially available in round-type, cruciform, ram-air, annular, and Rogallo-wing types. These product variants include stabilizers, pilot chute, harness, container, reserve static line, toggles, and ripcord as common components, which ensures a safer jump.

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Global Parachute Market Trends:

With the considerable expansion in the military and defense sector, there has been growing demand for parachutes for distribution, transportation, training, joint-para trooping, and intelligence, surveillance, and reconnaissance (ISR) activities, which is primarily driving the market growth. This is further supported by the extensive utilization of parachute bombs with unmanned aerial vehicles (UAV), microlights, and light aircraft to mitigate kinetic energy while landing. In line with this, the increasing need for a personalized traveling experience, and the emerging trend of adventure sports, such as skydiving, paragliding, and paramotoring, have facilitated the widespread adoption of the parachute. This acts as another growth-inducing factor.

Additionally, the introduction of technologically advanced lightweight military parachutes with global positioning systems (GPS), microlights, hang gliders, and drogue chutes to ensure safer landing on uneven surfaces is contributing to the market growth. Moreover, the fueling uptake of drone parachutes across the oil and gas industry to instantly identify leaks and spills with the support of aerial view to reduce downtime is positively stimulating the market growth. Other factors, such as continuous research and development (R&D) activities and strategic collaborations amongst key players to enhance product performance and overall sales, are creating a positive outlook for the market.

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Looking forward, IMARC Group expects the market to reach US$ 809.6 Million by 2027, exhibiting at a CAGR of 5.70% during 2022-2027.

View Report TOC, Figures and Tables: https://www.imarcgroup.com/parachute-market

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Key Market Segmentation

The research report includes the following segments:

Breakup by Type:

• Round Parachute

• Cruciform Parachute

• Ram-Air Parachute

• Others

Breakup by Fabric Material:

• Nylon

• Silk

• Kevlar

• Others

Breakup by Application:

• Military

• Cargo

• Others

Breakup by Region:

• North America

• Asia Pacific

• Europe

• Latin America

• Middle East and Africa

Competitive Landscape with Key Players:

• 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

1. What was the size of the global parachute market in 2021?

2. What is the expected growth rate of the global parachute market during 2022-2027?

3. What has been the impact of COVID-19 on the global parachute market?

4. What are the key factors driving the global parachute market?

5. What is the breakup of the global parachute market based on the type?

6. What is the breakup of the global parachute market based on the application?

7. What are the key regions in the global parachute market?

8. Who are the key players/companies in the global parachute market?

Click here to visit the complete table of content with list of figures and tables: https://www.imarcgroup.com/parachute-market/toc

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