Market Overview:
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.
A parachute is a dome-shaped device that slows down the vertical descent of a person falling through an atmosphere. It is made using strong and lightweight fabric, such as silk and nylon, and reinforce handholds to increase air resistance and create drag during free fall. It slows the load sufficiently to prevent and minimize injury or impact while landing on the ground. As a result, it is used for slowing a returning space capsule after entering into the atmosphere of the earth.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
Parachute Market Trends:
The increasing employment of parachutes in the defense and military industry for troop distribution, transportation, and training represents one of the key factors driving the market. Moreover, parachutes are utilized in microlights, light aircraft and hang gliders for ballistic purposes. This, along with the rising application of drogue chutes in aircraft to provide control and stable landing on wet and icy runways, is propelling the growth of the market. In addition, the increasing trend of adventure sports, such as skydiving, para jumping, paragliding, and paramotoring among individuals for stress relief and boosting confidence, is catalyzing the demand for parachutes. Besides this, the introduction of technologically developed military parachutes is offering lucrative growth opportunities to end users and investors. Additionally, there is a rise in the usage of parachutes in unmanned aerial vehicles (UAVs) to reduce their kinetic energy while descending and landing. Apart from this, key market players are extensively investing in research and development (R&D) activities to provide enhanced product variants for catering to the needs of the end users. These players are also focusing on mergers and acquisitions to increase their overall sales and profitability.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global parachute market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, fabric material and application.
Breakup by Type:
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
- Round Parachute
- Cruciform Parachute
- Ram-Air Parachute
- Others
Breakup by Fabric Material:
Breakup by Application:
Breakup by Region:
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- North America
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.
Report Coverage:
Report Features |
Details |
Base Year of the Analysis |
2022 |
Historical Period |
2017-2022 |
Forecast Period |
2023-2028 |
Units |
US$ Million |
Segment Coverage |
Type, Fabric Material, Application, Region |
Region Covered |
Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
Countries Covered |
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
Companies Covered |
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 |
Customization Scope |
10% Free Customization |
Report Price and Purchase Option |
Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499 |
Post-Sale Analyst Support |
10-12 Weeks |
Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |