LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global commercial and military parachute market report until 2021. This research report also lists five other prominent vendors that are expected to impact the market during the forecast period.
The research study by Technavio on the global commercial and military parachute market for 2017-2021 provides detailed industry analysis based on parachute type (round parachute, ram-air parachute, square parachute, and drogue parachute) and geography (the Americas, EMEA, and APAC).
“The global commercial and military parachute market is projected to grow to over USD 1,112 million by 2021, at a CAGR of nearly 6% over the forecast period. The increasing use of parachutes in recreational activities is a key driver of the global market,” says Moutushi Saha, a lead analyst at Technavio for defense research.
Competitive vendor landscape
The global commercial and military parachute market is characterized by the presence of various prominent and mid-sized vendors, who are competing for the enhancement of their respective market shares. Vendors in the market who can successfully close deals for the sale of bulk parachute systems will be able to sustain their product development costs. Also, the adoption of advanced technologies for both the materials and manufacturing sectors will aid in the reduction of both the cost and weight of the parachutes.
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Top five vendors in the global commercial and military parachute market
Airborne Systems designs, develops, and supplies personnel and cargo aerial delivery systems and associated products to the military, search and rescue, and space and recovery industries across the globe.
BAE Systems offers military equipment and systems across the globe. The company supplies emergency bailout parachute systems that are mounted to military fixed-wing aircraft and helicopter crew seats. The company sells its products under the brand Durachute.
Mills Manufacturing markets military parachute systems and components for the US Armed Forces and other NATO allied countries. Additionally, the company offers packs and harnesses, cluster munition parachutes, flare parachutes, ribbon chutes, drogue parachutes, and UAV recovery parachutes.
SPEKON manufactures and markets high-quality military and aviation sports parachutes globally. The company also offers other textiles products that are used in soldiers' personal equipment and humidity-controlled dry-storage systems.
Zodiac Aerospace manufactures and markets aerospace systems and components primarily for commercial, regional, and business aircraft. Through its Zodiac Parachute & Protection business division, the company manufactures and markets a wide range of parachutes and safety equipment for military and aviation sports industries.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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