About Military Parachute
Military Parachute is functioning as part of an airborne force. It is mainly used for delivering soldiers and supplies into action. It includes jumping out of a plane with canopy opening in automatic manner. These is attached to the aircraft. It is made up of light and strong fabric which is mostly nylon. Growing conflict among nations and never ending hoarding of defence equipment are bolstering the demand of the very market. As they minimizes the risk and impacts on the safety in positive manner. Whereas, large numbers of players with presence of substitutes could be challenge need to address. Geographically, United States is forecasted to grow with a higher growth rate than Asia Pacific and the European region. Presence of leading market players across USA has created product hub for military parachute which further created demand in a fruitful manner.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Market players are focusing on providing military parachute with higher quality along with complying all regulatory standards to fascinate more end users. They are also focusing on the introduction of numerous advanced & attractive features to further offer qualified military parachute. The market is fragmented owing to the presence of several international and local providers. The high focus on the offering cost effective product offerings. Besides, the numerous industry profitability has led the entry of new players, in turn, increasing the level of rivalry in the already competitive market. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Military Parachute market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Zodiac Aerosafety [France], Atair Aerospace [United States], Butler Parachute Systems Group [United States], Parachute Systems [South Africa], PLUSMAX [Germany], Spekon [Germany], OZONE [United Kingdom], Ballenger International [United States], FXC [United States], Mills Manufacturing [United States], Cimsa Ingenieria De Sistemas [Spain], NH Global SDN BHD [Malaysia], Airborne Systems [United States] and Cirrus Aircraft [United States] are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Aerodyne Research, Inc [United States], Parachutes Australia [Australia], Cirrus Aircraft [China] and BAE Systems [United Kingdom].
Segmentation Overview
AMA Research has segmented the market of Global Military Parachute market by Type (Round Parachute, Ram-air Parachute, Square or Parafoil Parachute and Ring or Ribbon Parachute), Application (Military, Cargo, Sports, Rescue and Others) and Region.
On the basis of geography, the market of Military Parachute has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Covers, the sub-segment i.e. Airborne Troops Parachute will boost the Military Parachute market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Canopy will boost the Military Parachute market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Use of Parachutes in Aero Sports, Use of Nanotechnology in Parachute Manufacturing and Growing Occurrences of Joint Para-trooping Exercises Among Countries
Market Growth Drivers:
Growing Military Activities Owing to Rising Conflict Among Nations and Advancements in Parachute Technology
Challenges:
Stringent Government Regulatory Guidelines and Maintaining Efficient Supply Chain
Restraints:
Declining Defense Budgets, Rising Raw Materials Cost and Easy Repairability of Damaged Parachutes
Opportunities:
Use of Parachutes for Unmanned Aerial Vehicles (UAVs) and Growing Defense Budget in Emerging Countries
Market Leaders and their expansionary development strategies
In 2020, the Indian DRDO developed the P7 Heavy Drop System that can drop military stores up to a 7-ton weight class from IL-76 aircraft. This system is fully indigenous and manufactured by L&T, which makes the platform system, while the round parachutes are manufactured by Ordnance Factory. Source: https://www.mordorintelligence.com/industry-reports/parachute-market
In January 2021, the US Airborne and Special Operations Test Directorate (ABNSOTD) tested the new T-11R Single Pin Troop reserve parachute from both rotary winged and fixed winged high performance aircraft to eliminate the potential for premature reserve activations. The successful tests will facilitate the induction of the reseve parachute in large numbers. Source: https://www.mordorintelligence.com/industry-reports/parachute-market
Key Target Audience
Original Parachutes Manufactures, Government Agencies, Potential Investors, Distributer & Supplier Companies, Research Institutes and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.