Parachute Market to Rise at a CAGR of 5.92% to 2020 Driven by Cargo and Personal Parachutes

The global parachute market is expected to grow from an estimated USD 910.50 million in 2015 to USD 1.21 billion by 2020, at a CAGR of 5.92% from 2015 to 2020. Military application segment to capture highest market size and Asia-Pacific to grow at the highest rate.

The market for parachute is driven by various factors, such as increasing demand by military for future battlefield operations, airplane recovery parachute system, and growth of aero sports.

Complete report on parachute market spread across 134 pages, profiling 12 companies and supported with 74 tables and 57 figures is now available at http://www.rnrmarketresearch.com/parachute-market-by-application-military-cargo-sports-rescue-recovery-break-chutes-by-type-round-ram-air-square-ring-ribbon-by-component-canopy-cords-tapes-webbings-metal-by-region-north-america-europe-asia-pacific-the-middle-market-report.html .

The key applications considered for the market study are military, cargo, sports, rescue, recovery, and break chutes, wherein the overall parachute market is dominated by the military segment. However, the sports segment is projected to grow at a comparatively higher CAGR during the forecast period of 2015 to 2020, primarily driven by the growth of aero sports. This trend is mainly being witnessed in the North American and European region.

The North American region dominates the global parachute market; increasing demand for cargo and personal parachutes for air delivery systems are the major drivers for the parachute market across North America. The U.S. defense force is one of the largest in the world and there has been a continuous increase in the defense spending by the U.S. government. The market in Asia-Pacific is projected to grow at the highest CAGR during the forecast period. The key factors that will drive the growth of APAC parachute market are the rise in maritime patrol services in the Indian Ocean and South China Sea and the increase in defense expenditures of India and China. The exports of small parachute in China grew by 284% in 2012 as compared to 2009, as stated by NISAT. Huge domestic production base and consumption pattern of small parachute is witnessing a strong growth in the APAC market.

The major companies profiled in the global parachute market report include Airborne Systems (U.S.), Mills Manufacturing (U.S.), Butler Parachute Systems (U.S.), Spekon (Germany), FXC Corporation (U.S.), and CIMSA Ingenieria (Spain), among others. This is a premium research report priced at US $4650 for a single user PDF, a discount on “Parachute Market by Application (Military, Cargo, Sports, Rescue, Recovery, Break Chutes), by Type (Round, Ram-air, Square, Ring & Ribbon), by Component (Canopy, Cords, Tapes, Webbings, Metal), by Region (North America, Europe, Asia-Pacific, The Middle East, Latin America, Africa) - Global Forecasts to 2020” can be requested at http://www.rnrmarketresearch.com/contacts/discount?rname=434209 .

From an insight perspective, this research report has focused on various levels of analysis—industry analysis (industry trends, and PEST analysis), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the parachute market; high-growth regions and countries and their respective regulatory policies; government initiatives; and market drivers, restraints, and opportunities.

Continuing with the related market, another research titled Unmanned Aerial Vehicles Market Global Forecast to 2020 says, the global unmanned aerial vehicles market is estimated to grow at a CAGR of 8.12% from 2015 to 2020. North America and Asia-Pacific lead the unmanned aerial vehicles market due to the increase in need of technologically advanced products. Companies like Northrop Grumman Corp. (U.S.), GA-ASI (U.S.), Elbit Systems Ltd. (Israel), IAI Ltd. (Israel), AeroVironment, Inc. (U.S.), Lockheed Martin Corporation (U.S.), The Boeing Company (U.S.), and BAE Systems Plc. (U.K.) are profiled in this research report available at http://www.rnrmarketresearch.com/unmanned-aerial-vehicle-uav-market-2013-2018-market-report.html .

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