DUBLIN, May 17, 2023 /PRNewswire/ —
Research and Markets
The “Global 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, and Others), By Fabric Material, By Application, By Region” report has been added to ResearchAndMarkets.com’s offering.
Global Parachute Market is growing due to the inclination of people toward the adventure activities like skydiving, bungee jumping, etc., and this drives the growth of The Global Parachute Market in the upcoming years.
The market for parachutes is expanding as a result of factors like rising security concerns brought on by regional conflicts and international terrorism, as well as rising demand for UAV parachutes in military applications. Similarly, the increase in aerial activities is also influencing growth as the tourism sector is growing, and the rise in these activities is leading to a higher demand for parachutes in different regions across the globe.
The increase in the adoption of parachutes in airplane recovery systems and the advanced technology in the parachute system is also attracting military departments of different nations, and the rise in the investments in this sector is also the reason that in the coming years, the market is projected to exhibit impressive CAGR.
The technological advancement in military parachutes is providing end users and investors with profitable growth potential; similarly, unmanned aerial vehicles (UAVs) are also increasingly using parachutes to reduce the kinetic energy during the descent and landing process. In addition to that, the major players in the market, significant investments in research and development (R&D) activities, develop technologically advanced products to meet the demand of the end users globally. The key players in the industry are concentrating on mergers and acquisitions to boost their overall sales and profitability.
Rising aerial adventure activities
The 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 opportunities. As a result, several vendors are attempting to use nanotechnology in their parachute products to improve the quality and durability of commercial parachutes with an 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 parachutes 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 a 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 are providing new opportunities in the industry, and the military parachute market is anticipated to grow over the forecast period due to further advances in parachute technology.
In this report, Global Parachute Market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:
Parachute Market, By Product Type:
- Round Parachute
- Cruciform Parachute
- Rogallo-wing Parachute
- Annular Parachute
- Ram-air Parachute
Parachute Market, By Fabric Material:
Parachute Market, By Application:
Parachute Market, By Region:
- South Korea
- Europe & CIS
- United Kingdom
- North America
- United States
- South America
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Impact of COVID-19 on Global Parachute Market
5. Voice of Customer Analysis
6. Global Parachute Market Outlook
7. North America Parachute Market Outlook
8. Europe & CIS Parachute Market Outlook
9. Asia Pacific Parachute Market Outlook
10. South America Parachute Market Outlook
11. Middle East and Africa Parachute Market Outlook
12. Market Dynamics
13. Market Trends and Developments
14. SWOT Analysis
15. Porter’s Five Forces Model
16. Competitive Landscape
17. Strategic Recommendations
18. About the Publisher & Disclaimer
A selection of companies mentioned in this report includes
- 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
For more information about this report visit https://www.researchandmarkets.com/r/cvhcwf
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SOURCE Research and Markets