Global Parachute Market to Reach USD 996.1 Million by 2033, Propelled by Increasing Product Adoption Across Military and Defense Sector

December 25, 2024 | Aerospace and Defense

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According to the latest report by IMARC Group, titled "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 2025-2033," the global parachute market reached a value of USD 666.1 Million in 2024. A parachute refers to a piece of dome-shaped equipment that enables a horizontally moving individual or object to descend slowly on the land by increasing air resistance and creating drag during free fall. Apart from this, a parachute reduces a load of an individual sufficiently to avoid injury while reaching the ground, minimizes descending speed, and maintains greater control of airspeed. It is manufactured by sectioning two layers of strong, lightweight silk or nylon fabric material into long-tubular cells. At present, parachutes are commercially available in round-type, cruciform, ram-air, annular, and Rogallo-wing types. These product variants include stabilizers, pilot chute, harness, container, reserve static line, toggles, and ripcord as common components, which ensures a safer jump.

Global Parachute Market Trends:

With the considerable expansion in the military and defense sector, there has been growing demand for parachutes for distribution, transportation, training, joint-para trooping, and intelligence, surveillance, and reconnaissance (ISR) activities, which is primarily driving the market growth. This is further supported by the extensive utilization of parachute bombs with unmanned aerial vehicles (UAV), microlights, and light aircraft to mitigate kinetic energy while landing. In line with this, the increasing need for a personalized traveling experience, and the emerging trend of adventure sports, such as skydiving, paragliding, and paramotoring, have facilitated the widespread adoption of the parachute. This acts as another growth-inducing factor. Additionally, the introduction of technologically advanced lightweight military parachutes with global positioning systems (GPS), microlights, hang gliders, and drogue chutes to ensure safer landing on uneven surfaces is contributing to the market growth. Moreover, the fueling uptake of drone parachutes across the oil and gas industry to instantly identify leaks and spills with the support of aerial view to reduce downtime is positively stimulating the market growth. Other factors, such as continuous research and development (R&D) activities and strategic collaborations amongst key players to enhance product performance and overall sales, are creating a positive outlook for the market. Looking forward, the market value is projected to reach USD 996.1 Million by 2033, expanding at a CAGR of 4.6% during 2025-2033.

Market Summary:

Based on the type, the market has been categorized into round, cruciform, ram-air parachutes, and others.
On the basis of the fabric material, the market has been segmented into nylon silk, Kevlar and others.
Based on the application, the market has been segregated into military, cargo and others
On a regional basis, the market has been segmented into North America (the United States, and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
The competitive landscape of the industry has also been examined, along with the profiles of the key players. Some of these players include 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.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Million USD
Segment Coverage	Type, Fabric Material, Application, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	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
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Parachute Market to Reach USD 996.1 Million by 2033, Propelled by Increasing Product Adoption Across Military and Defense Sector

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