Parachute Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2030F, Segmented By Product Type (Round Parachute, Cruciform Parachute, Rogallo-wing parachutes, Annular parachutes, Ram-air Parachute, and Others), By Fabric Material (Nylon, Silk, Kevlar, and Others), By Application (Military, Commercial, Cargo, Sports, and Others), By Region
Published Date: March - 2025 | Publisher: MIR | No of Pages: 280 | Industry: Aerospace and Defense | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationGlobal Parachute Market with a value of USD 635.8M in 2023, is expected to reach USD 974.6M by 2032, growing at a 4.9% CAGR.
The parachute market is growing due to factors such as increasing security concerns triggered by domestic conflicts and global terrorism, along with increasing demand for UAV parachutes in military uses. Likewise, the growth in the aerial activities is also affecting the growth as the tourism industry is expanding and the growth in these activities is resulting in the increased demand for of the parachutes in various parts of the world. The growth in the use of the parachutes in airplane recovery system and the new technology in the parachute system is also drawing military departments of various countries and the growth in the investments in this industry is also the reason that in the next few years the market is expected to show remarkable CAGR.
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The technological innovation in the military parachutes is yielding end-users and investors with lucrative growth opportunities, in a similar fashion the unmanned aerial vehicles (UAVs) are also using parachutes to lower the kinetic energy on descent and landing procedure. Apart from that the industry leaders of the market, extensive investments in research and development (R&D) efforts create technologically sophisticated product to satisfy the end-users' demand worldwide. The industry leaders are focusing on acquisition and merger in order to enhance their overall revenues and profitability.
Rising aerial adventure activities
Growing interest in parachuting for recreation among thrill-seekers, as well as an increase in air sports worldwide, and , more people trying skydiving might increase the demand for commercial parachutes. Similarly in developing countries the increase in tourism related activities is also driving the market with higher growth opportunity. As a result, several vendors are attempting to use nanotechnology in their parachute products to improve the quality and durability of commercial parachutes with the increase in safety.
Increase in the utilization of parachutes in Military Activities
In the military, paratroopers typically use parachutes for combat operations and the market for parachute is expanding because of the reasons like rising security concerns brought on by regional conflicts and international terrorism, as well as rising demand for UAV parachutes in military applications. The rise in demand is due to the military exercises. For example, NATO planned total of 95 exercises. The market's expansion is anticipated to be hampered by differences in testing standards and techniques and a shortage of personnel with the necessary skills to operate parachutes. Additionally, the military parachute industry's leading companies have access to new markets because of the quick technological development of parachutes and rising defense spending by governments of major economies is providing new opportunity in the industry and the military parachute market is anticipated to grow over the forecast period due to further advances in parachute technology.
Covid Impact on Tourism Industry
In terms of tourist flow, Europe has been the most popular region. In the years prior to COVID-19, the region attracted around 968.87 million foreign visitors.
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Market Segmentation
The Global Parachute Market is segmented by product type, fabric material, application, and by region. Based on product type, the market is segmented into Round Parachute, Cruciform Parachute, Rogallo-wing parachutes, Annular parachutes, Ram-air Parachute, and Others. Based on fabric material, the market is segmented into Nylon, Silk, Kevlar, and Others. Based on Application, the market is segmented into Military, Commercial, Cargo, Sports, and Others.
Company Profiles
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, Sachsische Spezialkonfektion GmbH, Safran SA, Trans Digm Group Inc., and NH Global Sdn Bhd are the key players developing advanced technologies to stay competitive in the market and enhancing their product portfolio in the regions to increase their customer outreach.
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Attribute |
Details |
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Base Year |
2022 |
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Historical Years |
2018 – 2022 |
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Estimated Year |
2023 |
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Forecast Period |
2024 – 2030 |
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Quantitative Units |
Revenue in USD Billion, Volume in Thousand Units, and CAGR for 2018-2022 and 2023-2030 |
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Report Coverage |
Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends |
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Segments Covered |
· By Product Type · By Fabric Material · By Application · By Region |
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Regional Scope |
North America, Europe, Asia-Pacific, Middle East & Africa, South America |
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Country Scope |
United States, Canada, Mexico, United Kingdom, Germany, France, Italy, Spain, Russia, Poland, Netherland, Norway, China, Japan, South Korea, India, Malaysia, Indonesia, Thailand, South Africa, Saudi Arabia, United Arab Emirates, Argentina, Brazil, Colombia. |
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Key Companies Profiled |
Zodiac Aerospace, Mills Manufacturing Corporation, Aerodyne Research LLC, BAE Systems PLC, Spekon GmbH, Airborne Systems, CIMSA Ingenieria De Sistemas SA, FXC Corporation, Ballenger International LLC, Rostec State Corp. |
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Customization Scope |
10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
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Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
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Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request) |
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