Military & Commercial Parachutes Market Revenue Drivers, Growth Opportunities, Value Chain Analysis and Forecast Research Report, 2025
“The global military and commercial parachutes market size was valued at USD 617.2 million in the year 2018. It is projected to witness a 6.1% CAGR over the forecasted years, 2019 to 2025.”
The global military & commercial parachutes market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development. Market Overview: The global military & commercial parachutes market size is projected to value USD 930.4 million until 2025. It is expected to register a CAGR of 6.1% over the forecasted years, 2019 to 2025. The rapid technological advances being carried out for enhancing international securities and shifting inclination towards aerial sports is anticipated to drive the market growth. The usage of military parachutes to drop payloads such as equipment, relief aids, and soldiers is projected to gain traction over the forecasted period. Also, other rescue operations make use of parachutes on account of their features like swift and efficient landing. The majority of the key players end up signing long-termed contracts with military and defense departments. Also, technological advances for developing the enhanced quality of harnessing tools and fabrics are projected to positively impact the market growth for parachutes. However, strict rules imposed for the manufacturing of these parachutes are anticipated to hinder market growth. Market Share Insights The market includes players like Airborne Systems; FXC Corporation; BAE Systems; Aerodyne Research, LLC; SPEKON; Zodiac Aerospace, and Parachute Systems. These players are constantly engaged in product development and innovation to gain a competitive advantage.