Military Parachute Market to Hit $2.0 Billion by 2031: Says Allied Market Research
Growing security concern due to territorial conflicts and rise in demand for UAV parachutes in military applications drive the growth of the global military parachute market. By product type, the round type parachute segment garnered the major share in 2021. By region, Asia-Pacific would showcase the fastest CAGR by 2031.
Portland, OR, Nov. 11, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global military parachute market was estimated at $1.1 billion in 2021 and is expected to hit $2.0 billion by 2031, registering a CAGR of 5.9% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
*Download Free Sample* - https://www.alliedmarketresearch.com/request-sample/9467
*Military Parachute Industry **Report Coverage & Details*:
*Report Coverage* *Details*
Forecast Period 2022–2031
Base Year 2021
Market Size in 2021 $1.1 Billion
Market Size in 2031 $2.0 Billion
CAGR 5.9%
No. of Pages in Report 261
Segments Covered Product Type, Components, Application, and Region.
Drivers Growing security concern due to territorial conflicts Rise in demand for UAV parachutes in military application
Restraints Variation in testing standards & methodologies and lack of skilled forces for operating parachutes
Opportunities Rapid technological advancement in parachutes and increasing defense expenditure by governments in major economies
*Covid-19 scenario-*
· Although the demand for parachutes remained steady in the defense sector, several limitations on the export & import of raw materials and military equipment had a negative impact on the global military parachute market.
· However, as the global situation started getting back on track, the market for military parachute also recovered fast.
The global military parachute market is analyzed across type, distribution channel, drug class type, and region. The report takes in an exhaustive analysis of segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
By product type, the round type parachute segment garnered more than two-fifths of the global military parachute market in 2021, and would rule the roost by the end of 2031. The cruciform parachute segment, on the other hand, would display the fastest CAGR of 7.3% from 2022 to 2031. The ribbon & ring and ram air parachute segments are also analyzed in the study.
*Interested to Procure the Research Report? Inquire Before Buying - *https://www.alliedmarketresearch.com/purchase-enquiry/9467
Based on components, the canopy segment held nearly two-fifths of the global market in 2021, and is expected to dominate by 2031. The tapes segment, on the other hand, would manifest the fastest CAGR of 7.3% throughout the forecast period. The cords and metal segments are also covered in the report.
Based on application, the personnel parachutes segment accounted for more than three-fourths of the total market revenue in 2021, and is projected to retain its dominance by the end of 2031. At the same time, the cargo parachutes segment would exhibit the fastest CAGR of 7.3% during the forecast period.
Based on region, the market across North America generated nearly two-fifths of the global market revenue in 2021, and is anticipated to retain the lion’s share by 2031. The Asia-Pacific region would also manifest the fastest CAGR of 7.8% during the forecast period. The other regions studied in the report include LAMEA and Europe.
The key market players analyzed in the global military parachute market report include Aerodyne Research, LLC, Airborne Systems, BAE Systems, Ballenger International, LLC, Tactical Parachute Delivery Systems, Butler Parachute Systems, CIMSA Ingeniería de Sistemas, S.A., FXC Corporation, Magam Safety Ltd., Mills Manufacturing, NH Global, Sdn. Bhd., Vital Parachute Inc., Parachute Systems, Precision Aerodynamics, Safran, Aerial Delivery Solutions, LLC, and Spekon. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance, product portfolio, operating segments, and developments by the top players.
*Procure The Research Report *- http://bit.ly/3UMLawx
*Similar Reports We Have on Military Industry*:
UAV Parachute Recovery Systems Market Research Report 2022-2030
Military Wearables Market Research Report 2022-2030
Military Personal Protective Equipment Market Research Report 2022-2030
Military Bodywears Market Research Report 2022-2030
Mission Management System Market Research Report 2022-2030
*About Us*
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
*Contact:*
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
*USA/Canada (Toll Free): *+1-800-792-5285, +1-503-894-6022
*UK:* +44-845-528-1300
*Hong Kong:* +852-301-84916
*India (Pune):* +91-20-66346060
*Fax:* +1(855)550-5975
help@alliedmarketresearch.com
*Web:* https://www.alliedmarketresearch.com/reports-store/aerospace-and-defence
*Follow Our Blog:* www.theinnovativereport.com