The Global UAV Parachute Market size was valued at USD 8.41 Million in 2022 and is expected to surpass USD 43.72 Million by 2031, expanding at a CAGR of 20.1% during the forecast period, 2023 – 2031. UAV parachute recovery systems are small devices with a carbon dioxide base and a parachute canister system that is utilized for recovery and rescue. In UAVs, emergency parachutes are a critical instrument to save fatalities and damage in the event of an aircraft failure. This is done by deploying a drone-mounted parachute system, which ejects a parachute during the fall to protect the UAV's landing.
Parachute recovery is particularly well suited to strategic fixed-wing UAV systems that require a high level of dexterity by allowing air vehicle recovery onto the unprepared ground. During an attack, the communication system of the drone is damaged or equipment is lost, making it impossible to activate the parachute recovery mechanism of the drone.
Market Trends, Drivers, Restraints, and Opportunities:
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The market is growing, due to advancements in UAV technology with a cutting-edge set of features and a growing number of applications such as remote sensing, product delivery, recreational use, and disaster relief.
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The global UAV re market is expected to expand, due to increasing initiatives to provide widespread information for disaster assistance.
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Increased defense sector investment in UAVs to prevent soldier fatalities is driving the global UAV parachute market.
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One of the major restraints on the global UAV parachute market is security concerns. UAVs are wireless, hence they are vulnerable to being hacked remotely by enemies.
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Increased drone policies and rigorous airspace regulations by various countries are projected to hamper the growth of the market.
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Private and government organizations that use cutting-edge technology tools for modern agriculture are expected to offer growth prospects in the market in the forecast period.
Scope of UAV Parachute Market Report
The report on the global UAV parachute market includes an assessment of the market, size, share, trends, segments, and regional markets. The study includes an overview as well as dynamics.
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Attributes
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Details
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Report Title
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UAV Parachute Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Product Types (Fixed-Wing UAVs and Rotary-Wing UAVs), Applications (Military and Commercial)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Butler Parachute Systems, CIMSA Ingenieria, Drone Rescue Systems GmbH, Fruity Chutes, Galaxy GRS, Indemnis, Mars Parachutes, Opale Parachutes, ParaZero, and Rocketman Enterprise Inc.
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Global UAV Parachute Market Segment Insights
Rotary-wing UAVs are expected to drive the rotary-wing UAVs segment during the forecast period
On the basis of product types, the global UAV parachute market is divided into fixed-wing UAVs and rotary-wing UAVs. In 2019, the rotary-wing UAVs segment held a substantial share of the market. This trend is projected to continue during the forecast period, due to the deployment of numerous rotor wings with a single central body. This gives additional benefits such as maneuverability, path control, compactness, and ease of usage.
These advantages make rotary-wing UAVs ideal for commercial applications such as aerial photography, leisure, agriculture, and aerial inspection. A minimum of four rotors and a maximum of eight rotors are allowed in rotary-wing UAVs. During the projected period, these attributes are expected to propel the rotary-wing UAVs segment.
The military segment accounted for a substantial share of the UAV parachute market
In terms of applications, the market is divided into military and commercial. The military category accounted for the largest share of the global UAV parachute market, as UAVs reduce operational disruptions.
The commercial segment is anticipated to drive the market over the forecast period, due to several commercial applications such as crop health monitoring, epidemic control, identification and barring of trespassers, healthcare delivery, product delivery, and remote sensing.
Asia Pacific is expected to be a significant region in the market over the projection period
Based on regions, the global UAV parachute market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. In 2019, Europe was a significant region in the market. Advancement of drone technology in Germany, the UK, and France for surveying, mapping, photography, cinematography, and inspection leads to the growth of the market in the region.
Asia Pacific is expected to be a significant region in the market over the projection period, due to increased adoption of advanced technology in UAVs by countries such as China, Japan, South Korea, and India.
Segments
By Product Types
- Fixed-Wing UAVs
- Rotary-Wing UAVs
By Applications
By Regions
- North America
- Europe
- Latin America
- Asia Pacific
- Middle East & Africa
By Key Players
Competitive Landscape
Major companies in the global UAV parachute market include Butler Parachute Systems, CIMSA Ingenieria, Drone Rescue Systems GmbH, Fruity Chutes, Galaxy GRS, Indemnis, Mars Parachutes, Opale Parachutes, ParaZero, and Rocketman Enterprise Inc.
Companies adopted various organic and inorganic growth strategies such as product launches, product enhancements, partnerships, agreements, mergers, and acquisitions to expand their presence. Detailed analysis of major companies, which includes company overview, financials, products offerings, recent developments, and others is covered in the report.
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