Commercial and Military Parachute Market by Type and Geography - Forecast and Analysis 2021-2025

The commercial and military parachute market share is expected to increase by USD 47.6 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 8.42%.

This commercial and military parachute market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers commercial and military parachute market segmentation by type (round, ram air, square and cruciform, and drogue) and geography (North America, Europe, APAC, MEA, and South America). The commercial and military parachute market report also offers information on several market vendors, including Aerodyne Research LLC, BAE Systems Plc, Ballenger International LLC, CIMSA Ingenieria de Sistemas SA, FXC Corp., Mills Manufacturing Corp., Rostec State Corp., Sachsische Spezialkonfektion GmbH, Safran SA, and TransDigm Group Inc. among others.

What will the Commercial and Military Parachute Market Size be During the Forecast Period?

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Commercial and Military Parachute Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The growth of joint defense operations and increasing procurement are notably driving the commercial and military parachute market growth, although factors such as the high cost of technology may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the commercial and military parachute industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Commercial and Military Parachute Market Driver

The growth of joint defense operations and increasing procurement is one of the key factors driving the global commercial and military parachute market. The US Navy has identified six potential areas in joint mission programs, which are joint strikes, joint littoral warfare, joint surveillance, joint space and electronic warfare and intelligence, strategic deterrence, and strategic sealift and protection. Hence, several military organizations have been emphasizing establishing bilateral training exercises to exchange their combat expertise. Instability in various regions across the world, including political volatility, violence, and dominance of rebellious forces, has dominated the contemporary military agenda of the international community. Amidst growing tensions in Eastern Europe, the US Army has extended its support to the Armed Forces of Ukraine by ensuring adequate training and support equipment to deter the dominance of adversary forces in the region. In April 2015, personnel from the 173rd Airborne Brigade, a paratrooper unit of the US Army, conducted the first six-month-long training exercise with the Armed Forces of Ukraine. Such deployments are expected to increase the demand for the procurement of military-grade parachutes, which will drive the growth of the global commercial and military parachute market during the forecast period.

Key Commercial and Military Parachute Market Trend

The development of parachutes for space applications will fuel the global commercial and military parachute market growth. Extensive R&D efforts are being undertaken to develop parachutes that are capable of being deployed in space. The National Aeronautics and Space Administration (NASA) is developing a parachute system for integration into its Orion space shuttle. The parachute system is deemed critical to ensure the safe return of Orion's future crews. The system will consist of a total of 11 parachutes that will be deployed at an altitude of 9,000 ft to deaccelerate the crew module from 130mph to 17mph. The system is designed to include several types of parachutes that are deployed for a variety of purposes at different stages of descent. For instance, three forward bay cover parachutes that are made of 100% Kevlar will be used at 26,500 ft to ensure the separation of the FBC during reentry. Such types of developments are expected to significantly augment the market prospects of active vendors during the forecast period.

Key Commercial and Military Parachute Market Challenge

The macroeconomic factors altering market dynamics are a major challenge for the global commercial and military parachute market growth. Cluster bombing is a conventional air assault technique, wherein several free-falling bombs are dropped on the target area. Since cluster bombs do not have a guidance system, they are deployed during low-altitude attacks. Cluster bombs are usually designed to contain several small bomblets in a large outer canister. When dropped off an aircraft, the outer canister automatically opens to disperse the bomblets, which generally have parachutes attached to their metal tail cap. These parachutes generate aerodynamic drag, retarding the velocity of the bomblets and ensuring a wider impact area. Since the adoption of the Convention on Cluster Munitions in 2008 prohibits the use, production, and stockpiling of cluster bombs, the scope of integration of parachutes in weaponry has declined significantly, which has limited the military use of parachutes mostly to paratrooper activities. However, both sequester caps and trial failures can pose a substantial challenge to the growth of the global commercial and military parachute market during the forecast period.

This commercial and military parachute market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global commercial and military parachute market as a part of the global aerospace & defense market within the global capital goods market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the commercial and military parachute market during the forecast period.

Who are the Major Commercial and Military Parachute Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• Aerodyne Research LLC
• BAE Systems Plc
• Ballenger International LLC
• CIMSA Ingenieria de Sistemas SA
• FXC Corp.
• Mills Manufacturing Corp.
• Rostec State Corp.
• Sachsische Spezialkonfektion GmbH
• Safran SA
• TransDigm Group Inc.

 

This statistical study of the commercial and military parachute market encompasses successful business strategies deployed by the key vendors. The commercial and military parachute market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

• Aerodyne Research LLC - The company offers commercial and military parachutes such as icon v, icon a, and icon student.

To make the most of the opportunities and recover from post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The commercial and military parachute market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Commercial and Military Parachute Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the commercial and military parachute market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global capital goods market includes the following core components:

• Inputs
• Inbound logistics
• Operations
• Outbound logistics
• Marketing and sales
• Service
• Support activities
• Innovation

The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for the Commercial and Military Parachute Market?

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31% of the market's growth will originate from APAC during the forecast period. China is the key market for commercial and military parachute market in APAC. Market growth in this region will be faster than the growth of the market in regions.

The growth of joint defense operations and increasing procurement will facilitate the commercial and military parachute market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The travel industry was significantly impacted by the COVID-19 outbreak and the subsequent lockdowns. Several countries in APAC are under either a partial or full lockdown in 2021. Various measures have been put in place to control the spread of the disease and ensure the safety of travelers. The tourism industry in the region has made massive changes to adapt to this new set of travelers. One of the major sectors that tourism industry leaders have been working to reopen is adventure tourism. Activities such as skydiving have come to an abrupt halt due to the pandemic. In 2021, the governments of APAC countries have paced up vaccination drives to contain the spread of the disease. Thus, the travel sector has started to reopen in the region. Therefore, the demand for commercial and military parachutes is expected to stabilize during the forecast period.

What are the Revenue-generating Type Segments in the Commercial And Military Parachute Market?

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The commercial and military parachute market share growth by the segments.1 segment will be significant during the forecast period. Round parachutes are purely dragged devices and do not provide any lift during diving. These parachutes are popular among paratroopers. These parachutes are used for military, cargo, and emergency landing applications. There are steerable and non-steerable round parachutes. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the commercial and military parachute market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Commercial and Military Parachute Market Scope
Report Coverage	Details
Page number	120
Base year	2020
Forecast period	2021-2025
Growth momentum & CAGR	Accelerate at a CAGR of 8.42%
Market growth 2021-2025	$ 47.6 billion
Market structure	Fragmented
YoY growth (%)	7.22
Regional analysis	North America, Europe, APAC, MEA, and South America
Performing market contribution	APAC at 31%
Key consumer countries	US, Russian Federation, China, UK, and France
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Aerodyne Research LLC, BAE Systems Plc, Ballenger International LLC, CIMSA Ingenieria de Sistemas SA, FXC Corp., Mills Manufacturing Corp., Rostec State Corp., Sachsische Spezialkonfektion GmbH, Safran SA, and TransDigm Group Inc.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Commercial and Military Parachute Market Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive commercial and military parachute market growth during the next five years
• Precise estimation of the commercial and military parachute market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the commercial and military parachute industry across North America, Europe, APAC, MEA, and South America
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of commercial and military parachute market vendors

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