Military Parachute Market Research Report - Forecast to 2027

Military Parachute Market: Information by Type (Round Parachutes, Ram-Air Parachute, Square Or Parafoil Parachute, and others), by Component (Canopy, Cords, Tapes, Webbings, and Metal), Application (Combat and Training), & by Region - Global Forecast till 2027

ID: MRFR/A&D/5436-HCR | February 2023 | Region: Global | 145 Pages         

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Military Parachute Market

Military Parachute Market Size is expected to reach USD 1.20 Billion by 2030, registering a CAGR of 5.91% during 2020-2030.

Segmentation
By Application Military Cargo Sports Rescue Recovery Break Chutes
By Components Canopy Cords Tapes Webbings Metal
By Type Round Parachute Ram-air Parachute Square or Parafoil Parachute Ring or Ribbon Parachute
Key Players
Companies Profiled   Airborne Systems (U.S.)   FXC Corporation (U.S.)   Mills Manufacturing (U.S.)   Butler Parachute Systems (U.S.)   CIMSA Ingenieria (Spain)   Spekon (Germany)
Drivers
Market Driving Forces   Rising Degree Of Advancements In Parachute Technology
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Military Parachute Market Overview


Military Parachute Market is estimated to register a CAGR of more than 7% during the forecast period of 2018 to 2023. The bulk of the demand for parachutes has been studied to be propelled by its deployment across an array of military activities with the defense sector being the largest consumer of the market products and functions. The growth in demand for parachutes is likely to be further, aided by the increase in the rate of conflicts globally. Further, there has been increasing use of UAVs for the conduction of ISR activities, and is also, led by the increasing use of parachutes for processes like recreation. The global growth will further be aided by technological developments and advancements such as the use of lightweight fabric followed by the incorporation of GPS systems, drogue chutes, and recovery parachutes. All these factors look promising for the growth of the market and the business experts suggest the same.


Covid-19 Analysis


The military parachute market has been witnessing the advent of the novel coronavirus pandemic and hence, there have been many issues that have been waiting for the market ever since. Also, the global market is witnessing the birth of major market challenges that have been associated with the outbreak and the changing market trends and demand and lifestyle of the global target audience that is spread in various global locations that are a part of the global market functioning. The pandemic and its sudden outbreak have led to a series of issues and further, the imposition of lockdown and other restrictions is likely to hamper the global market growth. Some places are witnessing temporary lockdown while others have imposed permanent isolation standards so that the spread is not severe.


Hence, there has been an emerging need for the military parachute market that will be helpful in covering the losses that have been incurred during the pandemic year of 2020. Also, the rising funds for carrying the research and development works will help the market grow at an excellent scale.


Market Dynamics


Drivers


The major drivers for the growth of the military parachute market during the ongoing forecast period that will be ending in are the substantial increase in the deployment of parachutes in various kinds of military operations followed by a rising degree of advancements in parachute technology. This is likely to help the global market attain excellent growth during the period that ends in as per the predictions of the experts and business chiefs.


Restraints


However, the growing military parachute market share is likely to witness restraints for the market owing to the factors that are the declining defense budgets, followed by processes related to overstocking of parachute inventory within the premises of the defense sector, and stringent government procedures.


Technology Analysis


The military parachute industry is witnessing the rising investment for the employment of technology and fresh developments that will help expand the product portfolio and hence, enhance the position of the market to meet the rising needs of the target audience that is spread in an array of the global market locations. Also, the market is witnessing the trends that are in the developing stage of the market and hence, propelling the CAGR and market rate that has been forecasted for the ongoing forecast period likely to be ending in.


Study Objectives


The military parachute market report has been curated to have an idea about the market trends that are prevalent under the global market scenario that will help in developing the market dynamics like opportunities related to growth and the possible restraints during the growth patterns and processes of the market by the end of the global forecast period in.


The global military parachute market report aims to study the role of the market forces and their role in enhancing the ability of the market segments to maintain a proper flow of the demanded market goods and products and further, meet the needs of the global target audience. This is being done so that the players can cover up the losses of the pandemic and further, help the market players opt for global expansion and diversification.


The global market further helps in introducing an understanding degree of the rising competitiveness amongst the market players and further, considers the dominant players that have the growing potential to pull major strings for the market that has been based on the recent developments undertaken by them during the forecast period that ends in.


Segment Overview


There are various types of military parachutes and hence, there have been higher chances of the global market audience to demand and for the suppliers to cater to the same. The global market segmentation is likely to help the global military parachute market to dwell and enhance its revenue portions for the market and opt for expansion as the period ends in. The market segments are as follows:


Based on the Application


The military parachute market has been segmented based on applications and includes:



  • Military

  • Cargo

  • Sports

  • Rescue

  • Recovery

  • Break Chutes


Based on the Market Components


The market components segment of the market is inclusive of the following:



  • Canopy

  • Cords

  • Tapes

  • Webbings

  • Metal


Based on the market Type


The military parachute market has been segmented based on the type and includes the following:



  • Round Parachute

  • Ram-air Parachute

  • Square or Parafoil Parachute

  • Ring or Ribbon Parachute


Regional Analysis


The military parachute manufacturers and the market is home to the matured domestic and international regions like the North American region and the European countries that are investing heavily in the large-scale development and procurement of a variety of technical textiles for processes like recovery and troop parachutes. The emerging markets have been facing issues like slower recognition of parachutes and further, their potential benefits are at stake due to lack of funds and awareness. However, the development in these domestic markets, as a part of the global market is expected to speed up during the forecast period that will be ending in as they offer several untapped and unexplored opportunities. Hence, the North American market is likely to enhance its operations with funding and investment in the research and development departments and hence, emerge as the prominently growing region.


Competitive Landscape


The military parachute market value has been expanding due to the developments that have been undertaken during the period ending in by the following mentioned market players:



  • Airborne Systems (U.S.)

  • FXC Corporation (U.S.)

  • Mills Manufacturing (U.S.)

  • Butler Parachute Systems (U.S.)

  • CIMSA Ingenieria (Spain)

  • Spekon (Germany)


Recent Developments


The Military and cargo are the two key application segments of the growing military parachute market size that are being considered for the expansion of the market scale especially during the ongoing forecast period that will be ending in. The military segment of the global market is projected to have dominated the overall military parachute market during the historic forecast period that had ended in 2019.


The sports application segment is the one that is dealt with by the military parachute manufacturers is projected to grow at the highest CAGR rate during the forecast period of 2021- following the outbreak of the novel coronavirus in the year 2020.


The domestic countries that are a part of the North American and European regions have been actively known to be involved in several marketing activities to conduct the strengthening process of their military forces, mainly to be battle-ready or in any case of emergency. This battle-readiness and preparation for emergencies demand an adequate number of paratroopers. The global parachutes have made it possible to conduct the processes related to the delivery of supplies and equipment to soldiers in warzone. The availability of combat drops and search and rescue operations can be carried out effectively on both transportation forms like land and water with the help of parachutes is proving to help meet the rising needs of the target audience.


Report Overview


The Military Parachute Market report helps to understand the scope of the military parachute industry and hence, understand the factors that will help the market to grow at an excellent rate during the ongoing forecast period that will be ending in. The market report discusses the pandemic outbreak followed by the market segmentation that will help in meeting the vibrant needs of the target audience in the period that will be ending in.



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Frequently Asked Questions (FAQ) :

The use of parachutes in the aerial deployment of troops into challenging terrains and regions is estimated to power the global market in the future.

A 7% CAGR is estimated to spruce up the market’s prospects in the forecast period.

Cimsa Ingeniería de Sistemas S.A. (Spain), Atair Aerospace (U.S.), SPEKON Company (Germany) are the eminent firms influencing the market.

The component segment I estimated to have a dominant effect on the overall market.