Parachute Market Report by Type (Round Parachute, Cruciform Parachute, Ram-Air Parachute, and Others), Fabric Material (Nylon, Silk, Kevlar, and Others), Application (Military, Cargo, and Others), and Region 2024-2032

Parachute Market Report by Type (Round Parachute, Cruciform Parachute, Ram-Air Parachute, and Others), Fabric Material (Nylon, Silk, Kevlar, and Others), Application (Military, Cargo, and Others), and Region 2024-2032

The global parachute market size reached US$ 635.8 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 974.6 Million by 2032, exhibiting a growth rate (CAGR) of 4.8% during 2024-2032.

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.

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 2024-2032. Our report has categorized the market based on type, fabric material and application.

Breakup by Type:

Round Parachute
Cruciform Parachute
Ram-Air Parachute
Others

Breakup by Fabric Material:

Nylon
Silk
Kevlar
Others

Breakup by Application:

Military
Cargo
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
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.

Key Questions Answered in This Report

1. What was the size of the global parachute market in 2023?
2. What is the expected growth rate of the global parachute market during 2024-2032?
3. What has been the impact of COVID-19 on the global parachute market?
4. What are the key factors driving the global parachute market?
5. What is the breakup of the global parachute market based on the type?
6. What is the breakup of the global parachute market based on the application?
7. What are the key regions in the global parachute market?
8. Who are the key players/companies in the global parachute market?