Global Military And Commercial Parachutes Market by Application (Cargo/Extraction, Emergency, Deceleration), by Type (Cruciform, Round, Ram-air) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Industry Insights

In 2018, the global market for commercial and military parachutes was worth USD 617.2 millions. It is expected to grow at 6.1% between 2019 and 2025. This is due to increased military spending worldwide and an increase in adventure tourists who are pursuing parachuting or skydiving.

Parachutes for military operations are used primarily to drop payloads such as soldiers, equipment and relief aids. Parachutes have been the fastest and most efficient way to land soldiers on the ground. According to the Stockholm International Peace Research Institute, (SIPRI), 2018 saw a 2.6% increase in world military expenditures compared with 2017.

Over the years, military equipment and systems (parachutes included) has seen a significant increase in military spending. This is evident in the US defense department's USD 249 million contract for the Mills Manufacturing parachute system contract. The commercial sector also sees a growing market due to recreational enthusiasts who are interested in aerial sports. These factors will likely drive the market growth for commercial and military parachutes during the forecast period.

The market's growth has been driven by long-term military contracts with parachute manufacturers companies. Long-term growth is expected to be aided by technological advances in harnessing and parachute fabrics. Social media is a dominant marketing tool in the promotion of parachuting and skydiving. Queenstown, New Zealand and Dubai in U.A.E have become prominent hubs for commercial parachuting activities. One of the most prominent skydiving companies in New Zealand, 'NZONE Skydive,' has recorded more than 300,000.

Manufacturers must adhere to strict regulations in order to limit the market growth for commercial and military parachutes. Manufacturers are being held to stricter standards due to the risk of life that chutes may not deploy during an operation. Parachuting industry suffers from constant changes to rules and regulations in order to protect the public. People who are involved in parachuting have concerns about the potential for accidents or deaths. The quality and durability of commercial parachutes has been improved by the use of textile technology.

Type Insights

The market for military and commercial parachutes has been divided into ram-air, cruciform and round based on their type. In 2018, the market was dominated by the cruciform segment, while the ram-air segment is expected to be the fastest growing segment during the forecast period. Parachutes with advanced technology have been adopted by both military and commercial institutions. Market growth is expected to be driven by chutes that can control maneuverability for different applications, such as troop landing, cargo dropping, and emergency ejection from aircraft.

Round parachutes are becoming less popular due to their poor maneuverability and landing-related injuries. This trend was confirmed by the U.S. defense department replacing T10 parachutes with T11 parachutes that are square-shaped. The market dominated by cruciform parachutes in 2018, and they are expected to continue to be a major revenue source for parachute manufacturers over the next few years. Ram-air parachutes will see a rise in popularity due to the increase in adventure tourism in Asia Pacific.

Application Insights

The market for commercial and military parachutes can be divided into three segments based on their application: troop/personnel and cargo/extraction. In the aftermath of natural disasters like earthquakes and floods, cargo chutes are crucial. The cargo segment accounted for a significant share of the market for commercial and military parachutes in 2018, and is expected to continue to hold a large share over the forecast period. The cargo parachutes are also more expensive because they can carry large payloads.

Due to growing popularity and acceptance of parachuting and skydiving among the millennial generation, the troop or personnel parachutes will be the fastest-growing segment in the future. Parachuting will continue to grow in popularity due to the increase in parachuting enthusiasts and the decrease in skydiving deaths. The use of personnel chutes in skydiving institutions is expected to grow significantly over the forecast period. Due to the increase in military aircraft manufactured by emerging countries like India, Thailand, Indonesia, and other nations, deceleration and emergency parachutes will also see growth.

Regional Insights

In 2018, the North American region was dominant in the market for commercial and military parachutes. Many of the world's top parachutists, including Airborne Systems, Mills Manufacturing and Complete Parachute Systems, are located in North America. These companies specialize in the development and distribution chute systems for commercial and military applications. These companies are driven by the rising defense budget, the rise in per capita income, as well as the adoption of new fabric technologies like smart textiles.

Asia Pacific will be the fastest-growing region for commercial and military parachutes. Key regional growth drivers are the annual rise in adventure-seeking tourists to the region, increasing interest in parachuting and skydiving, and rising disposable income in countries like India and China. The importance of associations such as the Australia Parachute Federation and New Zealand Parachute Federation has increased significantly. They are likely to encourage the growth of air sports in the region in the coming six years by their efforts to raise standards and ensure safety for skydivers.

Market Share insights for Commercial and Military Parachutes

Aerodyne Research, LLC, Airborne Systems, BAE Systems, Butler Parachute Systems, Inc., Complete Parachutes Solutions, FXC Corporation, Mills Manufacturing, Parachute Systems, SPEKON, and Zodiac Aerospace are some of the key industry players in this market. Airborne Systems and Mills Manufacturing have been awarded contracts for advanced parachute systems that meet the requirements of military environments. These contracts range from five to ten year terms.

Airborne Systems was awarded in 2018 the contract for enhanced multi-mission parachute system systems for the U.S Marine Corps. This contract will allow the company to grow its customer base, as well as instill trust in its product quality and safety attributes. Mills Manufacturing also signed a USD 249 million, 10 year contract in 2019 with the U.S. government for manufacturing T-11 parachutes.

The Report Covers Certain Segments

This report predicts revenue growth at the global, regional and country level and offers an analysis of industry trends for each sub-segment from 2014 to 2025. Grand View Research has divided the global market for military and commercial parachutes based on type, region, and application.

• Type Outlook (Revenue USD Million, 2014-2025)

  • Round

  • Cruciform

  • Ram-air

  • Other

• App Outlook (Revenue USD Million, 2014-2025)

  • Troop/Personnel

  • Cargo/Extraction

  • Deceleration

  • Emergencies

  • Other

• Regional Outlook (Revenue USD Million, 2014 - 2025)

  • North America

    • The U.S.

    • Canada

  • Europe

    • The U.K.

    • France

    • Germany

  • Asia Pacific

    • China

    • New Zealand

    • India

  • Latin America

    • Mexico

    • Brazil

  • Middle East & Africa

Up Market Research published a new report titled “Military And Commercial Parachutes Market research report which is segmented by Application (Cargo/Extraction, Emergency, Deceleration), by Type (Cruciform, Round, Ram-air), By Players/Companies LLC; Airborne Systems; BAE Systems; Butler Parachute Systems, Aerodyne Research, Inc; Complete Parachutes Solutions; FXC Corporation; Mills Manufacturing; Parachute Systems; SPEKON; and Zodiac Aerospace Manufacturers such as Airborne Systems and Mills Manufacturing have secured contracts (ranging from five to ten years) with defense departments of various countries to supply advanced parachute systems catering to the needs of the military environment”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Military And Commercial Parachutes Market Report Segments:

The market is segmented by Application (Cargo/Extraction, Emergency, Deceleration), by Type (Cruciform, Round, Ram-air).

Military And Commercial Parachutes Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Military And Commercial Parachutes Market

Overview of the regional outlook of the Military And Commercial Parachutes Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Military And Commercial Parachutes Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Military And Commercial Parachutes Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Cargo/Extraction

                2. Emergency

                3. Deceleration

                1. Cruciform

                2. Round

                3. Ram-air

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Military And Commercial Parachutes Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Military And Commercial Parachutes Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.