Military Parachute Market 2019 Capital Shares, Size, Trends, Recent Updates, CAGR till 2023
Military Parachute Market: Global Research Information by Type (Round Parachutes, Ram-Air Parachute, Square or Parafoil Parachute, and others), by Component (Canopy, Cords, Tapes, Webbings, and Metal), Application (Combat and Training), & by Region—Forecast till 2023
The global military parachute market is estimated to register a CAGR of more than 7% during the forecast period of 2018 to 2023.
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Military Parachute Market Key Players:
- FXC Corporation (US)
- Butler Parachute Systems (US)
- Zodiac Aerospace (France)
- Airborne Systems Inc. (UK)
- Atair Aerospace (US)
- Cimsa Ingeniería de Sistemas S.A. (Spain)
- SPEKON Company (Germany)
- Mills Manufacturing (US)
- Cirrus Aircraft (China)
- Parachute Systems (South Africa)
- NH Global SDN BHD (Malaysia).
- Distributer & supplier companies
- End User
- Research organizations
- Original equipment manufacturers
Military Parachute Market Scenario:
Parachutes are generally used to minimize the speed of the object falling on Earth. Large military planes often drop the cargo and supplies over military bases in remote areas using parachutes.
The major drivers for the growth of the global military parachute market are the increase in deployment of parachutes in military operations, and advancements in parachute technology. However, the restraints to the market are the declining defense budgets, overstock of parachute inventory within defense sector, and government procedures.
The Global Military parachute market has been segmented by type, component, application, and region. Based on type, the market has been divided into round parachutes, ram-air parachute, square or parafoil parachute, and others. In 2017, the round parachutes segment accounted for the larger market share.
However, the square or parafoil parachute segment is estimated to be the faster-growing market during the forecast period as these types of parachute has greater steerability and allows greater control of the rate of descent. Due to these advantages the parafoil parachute would be in high demand in the forecast period.
The Global Military parachute market has also been studied for four regions—North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. North America is projected to account for the largest market share during the review period owing to the presence of major military parachute manufacturers such as FXC Corporation, Butler Parachute Systems, and Mills Manufacturing in the region.
Asia-Pacific is estimated to be the fastest-growing regional market during the forecast period due to a rise in the number of spending in the military training activities sector in the region.
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