LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global commercial and military parachute market since 2017 and the market is poised to grow by USD 218.8 million during 2019-2023, progressing at a CAGR of almost 5% during the forecast period. Request free sample pages
Read the 138-page report with TOC on “Commercial and Military Parachute Market Analysis Report by Type (round, ram-air, square and cruciform, and drogue), Geography (APAC, Europe, MEA, North America, and South America), and the Segment Forecasts, 2019-2023”.
The market is driven by the development of ballistic aircraft recovery systems. In addition, the developments of parachutes for space applications is anticipated to boost the growth of the commercial and military parachute market.
Aircraft ballistic recovery systems are equipped with a rocket-deployed parachute to decelerate aircraft while landing on short runways or during emergency landings. For example, fighter jets use drogue parachutes in cold regions to ensure safe landing by reducing the risk of skidding on ice. Technological advancements have led to the development of parachute textiles with high tensile strength and low shearing failure. These systems are expected to be equipped in many new aircraft models. This is expected to positively influence the market growth during the forecast period.
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Major Five Commercial and Military Parachute Companies:
BAE Systems Plc
BAE Systems Plc owns and operates its business across segments such as electronic systems, cyber & intelligence, platforms and services (US), air, and maritime. The company offers a commercial-off-the-shelf (COTS) Federal Aviation Administration (FAA)-certified parachute system that complies with TSO C-23d standards. The company also offers the parachute system in 36 different configurations of canopy releases and ripcord handles.
Mills Manufacturing Corp.
Mills Manufacturing Corp. owns and operates its business across various segments including airborne troop parachutes, cargo parachutes, deceleration parachutes, emergency parachutes, and additional parachute products. The company offers a wide range of parachutes. MC1-1C/D and G-11 are some of the popular offerings of the company.
Rostec State Corp.
Rostec State Corp. operates its business across segments such as Aviation Cluster, RadioElectronic Cluster, Arms, Ammunition and Special Chemistry Cluster, and others. D-10 and Arbalet-1 are some of the popular product offerings by the company.
Sächsische Spezialkonfektion GmbH
Sächsische Spezialkonfektion GmbH owns and operates its business across segments such as military technology, emergency parachutes, aviation textiles, temporary constructions, and technical textiles. The company offers a wide range of commercial and military parachutes. Some of the popular offerings by the company include RS-2000, RS-4/4 0, and RE-5L.
Safran SA owns and operates its business across segments such as aerospace propulsion, aircraft equipment, defense, Aerosystems, and aircraft interiors. The company offers a wide range of commercial and military parachutes. Some of the popular offerings by the company include Phantom Systems Parachute, ARZ MI, and ARZ EPC.
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Commercial and Military Parachute Type Outlook (Revenue, USD Million, 2019 - 2023)
- Ram air
- Square and cruciform
Commercial and Military Parachute Regional Outlook (Revenue, USD Million, 2019 - 2023)
- North America
- South America
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