Market Research Future Insights:

According to MRFR analysis, the global Military Parachute Market is expected to register a CAGR of ~5.91% from 2022 to 2030 and hold a value of over USD 1.20 Billion by 2030. A parachute is a device that slows down a thing's motion which is falling through an atmosphere by creating a slog. It contains a fabric canopy beneath which the individual or object is suspended. The parachute works through air resistance by compelling air to the front of it, which makes a structured ‘wing’ below where the canopy pilot can fly. Militaries have cast-off military parachutes to deliver soldiers and supplies into action as initial as the Second World War. Large military aircraft often drop cargo and supplies over military bases in remote areas use of parachutes. Essentially, there are different types of parachutes cast-off by the military, such as round parachutes, square parachutes, ram-air parachutes, and others. During the Covid-19 pandemic, the demand for parachutes remained stable in the defense sector, and numerous limitations on the export & import of raw materials and military equipment had an adverse impact on the global Military Parachute Market Trends. However, as the global situation started getting back on the path, the market for military parachutes also recovered fast.

Market Segmentation:

The Global Military Parachute Market has been segmented into the Application, Components, and Type.

Based on the Application, The Global Military Parachute Market has been segmented into Military, Cargo, Sports, Rescue, Recovery, and Break Chutes.

Based on the Components, The Global Military Parachute Market has been segmented into Canopy, Cords, Tapes, Webbings, and Metal.

Based on the Type, The Global Military Parachute Market Share has been segmented into Round Parachutes, Ram-air Parachute, Square or Parafoil Parachute, and Ring or Ribbon Parachutes.

Key Players:

Some of the key market players are Airborne Systems (U.S.), Butler Parachute Systems (U.S.), CIMSA Ingenieria (Spain), Speakon (Germany), FXC Corporation (U.S.), and Mills Manufacturing (U.S.).

Regional Analysis:

North America accounts for the largest share of the global market in terms of revenue and is predictable to witness significant growth over the estimated period. Accessibility of technologically advanced military parachutes owing to the existence of major players in the region is anticipated to drive the growth of the market in North America.

The Europe market is anticipated to register a moderate growth rate shortly, due to an upsurge in the investment in parachute manufacturing companies in this region.

In 2020 Asia Pacific recorded the highest growth rate of 32.52% among the other regions. Therefore, the commercial and military parachute market in the Asia Pacific is anticipated to gain significant business opportunities for the vendors during the estimated period.

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Military Electro-Optical and Infrared Systems Market Research Report: by Type (Image Intensification, Laser and Infrared), Sensor Technology (Scanning, Starring, Multispectral and Hyperspectral), Platform (Airborne, Land-Based and Naval) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and Latin America) - Forecast till 2030.

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