Global Military & Commercial Parachutes Databank Market Report

Global Military & Commercial Parachutes Databank Market Report

The Military & Commercial Parachutes market was valued at $815.6 Million in 2022, and is projected to reach $1,259.9 Million by 2031 growing at a CAGR of 4.99% from 2023 to 2031. Cruciform segment is expected to be the highest contributor to this market, with $324.5 Million in 2022, and is anticipated to reach $472.4 Million by 2031, registering a CAGR of 4.30%. Round segment is anticipated to reach $264.2 Million by 2031 with the highest CAGR of 6.17%. Cruciform and Ram-air segments collectively expected to account for about 63.5% share of the Military & Commercial Parachutes market in 2022, with the former constituting around 39.8% share. Round and Ram-air segments are expected to witness significant growth rates at a CAGR of 6.17% and 5.93% respectively, during the forecast period. Presently, share of these two segments is estimated to be around 42.7% in the overall Military & Commercial Parachutes market in 2022, and is anticipated to reach 46.7% by 2031.