Mar 31, 2019 (AB Digital via COMTEX) — Military Parachute Market Scenario:
Parachutes are generally used to minimize the speed of the object falling on Earth. Large military planes often drop the cargo and supplies over military bases in remote areas using parachutes. The major drivers for the growth of the global military parachute market are the increase in deployment of parachutes in military operations, and advancements in parachute technology. However, the restraints to the market are the declining defense budgets, overstock of parachute inventory within defense sector, and government procedures.
Military Parachute Market Segmentation:
The global military parachute market has been segmented by type, component, application, and region. Based on type, the market has been divided into round parachutes, ram-air parachute, square or parafoil parachute, and others. In 2017, the round parachutes segment accounted for the larger market share. However, the square or parafoil parachute segment is estimated to be the faster-growing market during the forecast period as these types of parachute has greater steerability and allows greater control of the rate of descent. Due to these advantages the parafoil parachute would be in high demand in the forecast period.
By component, the market has been classified as canopy, cords, tapes, webbings, and metal. In 2017, the canopy segment accounted for the largest market share. The cords segment is projected to register the highest CAGR during the review period. This can be attributed to the increased demand for advanced material cords for the military parachute.
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Based on application, the market has been categorized as combat and training. In 2017, the combat segment accounted for the larger market share. However, training is estimated to be the faster-growing during the forecast period. An increase in the number of military training activities across the globe is propelling the growth of the segment.
The global military parachute market has also been studied for four regions—North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. North America is projected to account for the largest market share during the review period owing to the presence of major military parachute manufacturers such as FXC Corporation, Butler Parachute Systems, and Mills Manufacturing in the region. Asia-Pacific is estimated to be the fastest-growing regional market during the forecast period due to a rise in the number of spending in the military training activities sector in the region.
The global military parachute market is estimated to register a CAGR of more than 7% during the forecast period of 2018 to 2023.
Military Parachute Market Key Players:
The key players in the global military parachute market are FXC Corporation (US), Butler Parachute Systems (US), Zodiac Aerospace (France), Airborne Systems Inc. (UK), Atair Aerospace (US), Cimsa Ingeniería de Sistemas S.A. (Spain), SPEKON Company (Germany), Mills Manufacturing (US), Cirrus Aircraft (China), Parachute Systems (South Africa), and NH Global SDN BHD (Malaysia).
Table Of Contents:
1. Executive Summary
2. Scope Of The Report
2.1. Market Definition
2.2. Scope Of The Study
2.2.2. Research Objective
2.2.3. List Of Assumptions
3. Research Methodology
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