Parachute Market Size, Share, Industry & Opportunities 2030

Segments - Parachute Market by Types (Round Parachute, Cruciform Parachute, Ram-air Parachute, and Others), Applications (Military, Cargo, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

Author : Raksha Sharma

Fact-checked by : Indranil Bose

Editor : Shruti Bhat

Report Description

The global parachute market size is projected to register a high CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the rising prevalence of recreation activities.

Parachute slows the fall down of the body through the climate or reduces turbulence of the body in the air. The parachute increases the body’s surface region and expands air resistance. Increasing use of parachutes in war for securely dropping supplies and equipment just as personnel is driving the market growth. They are additionally utilized in the game of skydiving.

The COVID-19 pandemic hampered the market growth severely in 2020. However, the lockdown of manufacturing facilities to mitigate the spread of virus, impeded the market growth. While a few providers and product manufacturers have encountered frightening drops in business and benefits, others have figured out how to support themselves, in spite of the fact that their sales are relied upon the market sector.

Market Trends, Drivers, Restraints, and Opportunities

Increasing number of aero sports and prevalence of advanced technology in parachute system are major factors that are expected to boost the parachute market.
Long-term contracts with parachute manufacturing organizations have turned into the driving variable for the development of the market.
The presence of alternative solutions for dropping equipment and services can create challenges for the growth of the market.
The technological advancement in the parachute textures and equipment is expected to spur the development in the long term.

Scope of the Parachute Market Report

The report on the parachute market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Parachute Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2020
Historic Data	2018–2019
Forecast Period	2021–2028
Segmentation	Types ( Round Parachute, Cruciform Parachute, Ram-air Parachute, and Others) and Applications (Military, Cargo, and Others)
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	Raytheon Technologies Corporation; Parachute Systems; Aerodyne Research LLC; Safran SA; and Mills Manufacturing Corporation.

Parachute Market Segment Insights

Round parachute segment is expected to grow at a rapid pace

Based on types, the market is divided into round parachute, cruciform parachute, ram-air parachute, and others. The round parachute segment is estimated to account for a significant share of the market owing to presence of large product mostly ejection seats in the market. Moreover, the round parachute segment is anticipated to expand at a rapid pace during the forecast period due to rising utilization in non-military personnel; for example, parasailing and aircraft recovery systems.

Military segment is projected to expand at a considerable CAGR

In terms of applications, the parachute market is bifurcated into military, cargo, and others. The military parachute segment to account for a key share of the market due to increasing recreation activities. Parachutes are commonly used in military sector for search and training, purpose rescue operation, solo operations. Furthermore, this segment is anticipated to expand at a rapid pace during the forecast period owing to advancement in technology. On the other hand, the others segment is estimated to grow at a rapid pace during the forecast period. Increasing demand for recreational activities is fueling the growth of the market segment.

Latin America is anticipated to constitute a large market share

In terms of regions, the global market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Latin America to account for a large market share due to increasing number of international skydiving competitions. Furthermore, to guarantee the wellbeing of the skydivers is probably going to encourage the development of aerial sports in the region. On the other hand, the market in Asia Pacific is estimated to exhibit a robust CAGR during the forecast period due to increasing number of aerial activities in emerging countries such as India and China.

Segments

The global parachute market has been segmented on the basis of

Types

Round Parachute
Cruciform Parachute
Ram-air Parachute
Others

Applications

Military
Cargo
Others

Regions

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

Key Players

Raytheon Technologies Corporation
Parachute Systems
Aerodyne Research LLC
Safran SA
Mills Manufacturing Corporation.

Competitive Landscape

Key players competing in the parachute market are Raytheon Technologies Corporation; Parachute Systems; Aerodyne Research LLC; Safran SA; and Mills Manufacturing Corporation.

The market players are continuously indulging in the activities such as mergers and acquisitions, research and developments, and increasing their investments for development of innovative products.

Global Parachute Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Parachute Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Parachute Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Parachute Market - Supply Chain
  4.5. Global Parachute Market Forecast
     4.5.1. Parachute Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Parachute Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Parachute Market Absolute $ Opportunity
5. Global Parachute Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Parachute Market Size and Volume Forecast by Types
     5.3.1. Round Parachute Cruciform Parachute Ram-air Parachute Others
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Parachute Market Analysis and Forecast by Applications
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Applications
     6.2.2. Y-o-Y Growth Projections by Applications
  6.3. Parachute Market Size and Volume Forecast by Applications
     6.3.1. Military Cargo Others
  6.4. Absolute $ Opportunity Assessment by Applications
  6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Parachute Market Analysis and Forecast by Region
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by Region
     7.2.2. Y-o-Y Growth Projections by Region
  7.3. Parachute Market Size and Volume Forecast by Region
     7.3.1. North America
     7.3.2. Latin America
     7.3.3. Europe
     7.3.4. Asia Pacific
     7.3.5. Middle East and Africa (MEA)
  7.4. Absolute $ Opportunity Assessment by Region
  7.5. Market Attractiveness/Growth Potential Analysis by Region
  7.6. Global Parachute Demand Share Forecast, 2019-2026
8. North America Parachute Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
  8.2. North America Parachute Market Size and Volume Forecast by Country
     8.2.1. U.S.
     8.2.2. Canada
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. North America Parachute Market Size and Volume Forecast by Types
     8.4.1. Round Parachute Cruciform Parachute Ram-air Parachute Others
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. North America Parachute Market Size and Volume Forecast by Applications
     8.7.1. Military Cargo Others
  8.8. Basis Point Share (BPS) Analysis by Applications
  8.9. Y-o-Y Growth Projections by Applications
  8.10. Market Attractiveness/Growth Potential Analysis
     8.10.1. By Country
     8.10.2. By Product Type
     8.10.3. By Application
  8.11. North America Parachute Demand Share Forecast, 2019-2026
9. Latin America Parachute Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Latin America Average Pricing Analysis
  9.2. Latin America Parachute Market Size and Volume Forecast by Country
      9.2.1. Brazil
      9.2.2. Mexico
      9.2.3. Rest of Latin America
   9.3. Absolute $ Opportunity Assessment by Country
  9.4. Latin America Parachute Market Size and Volume Forecast by Types
     9.4.1. Round Parachute Cruciform Parachute Ram-air Parachute Others
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Latin America Parachute Market Size and Volume Forecast by Applications
     9.7.1. Military Cargo Others
  9.8. Basis Point Share (BPS) Analysis by Applications
  9.9. Y-o-Y Growth Projections by Applications
  9.10. Market Attractiveness/Growth Potential Analysis
     9.10.1. By Country
     9.10.2. By Product Type
     9.10.3. By Application
  9.11. Latin America Parachute Demand Share Forecast, 2019-2026
10. Europe Parachute Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Europe Average Pricing Analysis
  10.2. Europe Parachute Market Size and Volume Forecast by Country
     10.2.1. Germany
     10.2.2. France
     10.2.3. Italy
     10.2.4. U.K.
     10.2.5. Spain
     10.2.6. Russia
     10.2.7. Rest of Europe
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Europe Parachute Market Size and Volume Forecast by Types
     10.4.1. Round Parachute Cruciform Parachute Ram-air Parachute Others
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Europe Parachute Market Size and Volume Forecast by Applications
     10.7.1. Military Cargo Others
  10.8. Basis Point Share (BPS) Analysis by Applications
  10.9. Y-o-Y Growth Projections by Applications
  10.10. Market Attractiveness/Growth Potential Analysis
     10.10.1. By Country
     10.10.2. By Product Type
     10.10.3. By Application
  10.11. Europe Parachute Demand Share Forecast, 2019-2026
11. Asia Pacific Parachute Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Asia Pacific Average Pricing Analysis
  11.2. Asia Pacific Parachute Market Size and Volume Forecast by Country
     11.2.1. China
     11.2.2. Japan
     11.2.3. South Korea
     11.2.4. India
     11.2.5. Australia
     11.2.6. Rest of Asia Pacific (APAC)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Asia Pacific Parachute Market Size and Volume Forecast by Types
     11.4.1. Round Parachute Cruciform Parachute Ram-air Parachute Others
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Asia Pacific Parachute Market Size and Volume Forecast by Applications
     11.7.1. Military Cargo Others
  11.8. Basis Point Share (BPS) Analysis by Applications
  11.9. Y-o-Y Growth Projections by Applications
  11.10. Market Attractiveness/Growth Potential Analysis
     11.10.1. By Country
     11.10.2. By Product Type
     11.10.3. By Application
  11.11. Asia Pacific Parachute Demand Share Forecast, 2019-2026
12. Middle East & Africa Parachute Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Middle East & Africa Average Pricing Analysis
  12.2. Middle East & Africa Parachute Market Size and Volume Forecast by Country
     12.2.1. Saudi Arabia
     12.2.2. South Africa
     12.2.3. UAE
     12.2.4. Rest of Middle East & Africa (MEA)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Middle East & Africa Parachute Market Size and Volume Forecast by Types
     12.4.1. Round Parachute Cruciform Parachute Ram-air Parachute Others
  12.5. Basis Point Share (BPS) Analysis by Types
  12.6. Y-o-Y Growth Projections by Types
  12.7. Middle East & Africa Parachute Market Size and Volume Forecast by Applications
     12.7.1. Military Cargo Others
  12.8. Basis Point Share (BPS) Analysis by Applications
  12.9. Y-o-Y Growth Projections by Applications
  12.10. Market Attractiveness/Growth Potential Analysis
     12.10.1. By Country
     12.10.2. By Product Type
     12.10.3. By Application
  12.11. Middle East & Africa Parachute Demand Share Forecast, 2019-2026
13. Competition Landscape
  13.1. Global Parachute Market: Market Share Analysis
  13.2. Parachute Distributors and Customers
  13.3. Parachute Market: Competitive Dashboard
  13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     13.4.1. Raytheon Technologies Corporation Parachute Systems Aerodyne Research LLC Safran SA Mills Manufacturing Corporation.