IMARC Group, a leading market research company, has recently releases report titled “Parachute Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global parachute market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Parachutes are accurately designed and engineered to ensure reliable performance in emergency situations. They undergo rigorous testing and certification processes to meet stringent industry standards and regulatory requirements. They serve as an essential fail-safe mechanism and prevent catastrophic accidents and potential damage to property or bystanders. They are pivotal in ensuring the safe return of spacecraft and astronauts in the realm of space exploration.
The global parachute market size reached US$ 603.2 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 850.9 Million by 2028, exhibiting a growth rate (CAGR) of 5.4% during 2023-2028.
Important Attribute and highlights of the Report:
- Detailed analysis of the global market share
- Market Segmentation by type, fabric material and application.
- Historical, current, and projected size of the market in terms of volume and value
- Latest industry trends and developments
- Competitive Landscape for Parachute Market
- Strategies of major players and product offerings
At present, the rising demand for parachutes in the defense and military sector for dropping soldiers on a battlefield without needing a landing strip for the airplane represents one of the key factors supporting the growth of the market. Besides this, the growing demand for round parachutes among armed forces to dispatch large airborne units is offering a favorable market outlook. In addition, the increasing advancement in airborne technologies to improve the mechanism of action of parachutes and make them safer and more reliable is propelling the growth of the market. Moreover, the rising demand for parachutes in recreational activities, along with the growing number of aero sports around the world, is positively influencing the market. Apart from this, key players are using nanotechnology in their parachute products to increase the durability of parachutes.
Key Players Included in Global Parachute Market Research Report:
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 and Sachsische Spezialkonfektion GmbH
Market Segmentation
This report has categorized the market based on type, fabric material and application.
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
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
TOC for the Parachute Market Research Report:
- Preface
- Scope and Methodology
- Executive Summary
- Introduction
- Global Parachute Market
- SWOT Analysis
- Value Chain Analysis
- Price Analysis
- Competitive Landscape
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