Parachutes are commonly used to decrease the velocity of objects falling on Earth. Large military aircraft often drop cargo and supplies over military bases in remote areas using parachutes. Basically there are different types of parachutes are used by military such as round parachute, ram-air parachute, square parachute etc. Different types of parachute are used for different purposes such as round parachute are used by armed forces to dispatch large airborne units. Similarly, square parachute is used to dispatch small specialized units. In military, parachutes are generally used by paratroopers for combat operations. More advancements in parachute technology is expected to drive the military parachute market during forecast period.
MARKET SCOPE
The "Global Military Parachute Market Analysis to 2028" is a specialized and in-depth study of the aerospace and defense industry with a special focus on the global market trend analysis. The report aims to provide an overview of the military parachute market with detailed market segmentation by component type, material, and geography. The report provides key statistics on the market status of the leading military parachute market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- On the basis of type, the market is segmented as round parachute, ram-air parachute, square or parafoil parachute and ring or ribbon parachute.
- Based on application, the market is segmented into combat and training.
MARKET DYNAMICS
Drivers:
- Growing demand from military owing to rising conflicts around the world and rising military expenditure in developing nation is driving the growth of the military parachute market.
- Furthermore, use of parachutes for unmanned aerial vehicles and advancement in parachute technology are anticipated to create market opportunities for the military parachute market during the forecast period.
Restraints:
- However, the overstock of parachute inventory within defense sector, and government procedures may restrain the growth of the military parachute market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW). The military parachute market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 17 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive porter's five forces analysis affecting the military parachute market.
IMPACT OF COVID-19 ON MILITARY PARACHUTE MARKET
Governments have resorted to lockdowns and stopped production units as a result of the COVID-19 outbreak. Although no manufacturing company has been spared, the pandemic's impact has not been consistent. While some suppliers and product manufacturers have seen dramatic decreases in sales and earnings, others have managed to stay afloat, albeit their success has been dependent on the markets they serve and their ability to switch to products that are in high demand at any given time.
The demand for parachutes has remained stable in the defense sector, but it has dropped dramatically in the recreational sector, since many end-users are still dealing with the impacts of the pandemic. This disruption is projected to continue in 2021, with increased demand for civilian-use parachutes in the second half of the projection period. Nonetheless, new and innovative lightweight parachutes are gaining popularity, and the rise of smart fabrics is expected to accelerate the adoption of such parachuting technologies.
MARKET PLAYERS
The report covers key developments in the military parachute market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from military parachute market are anticipated to lucrative growth opportunities in the future with the rising demand for military parachute in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the military parachute market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Airborne Systems
- Butler Parachute Systems
- Cimsa Ingenieria De Sistemas, S.A.
- Complete Parachute Solutions, Inc.
- Fujikura Parachute CO., LTD.
- FXC Corporation
- MAGAM SAFETY Ltd.
- Mills Manufacturing
- Spekon
- VITAL PARACHUTE INC.