How big is the Parachute Market?

The Parachute Market size is expected to reach USD 1.36 billion in 2024 and grow at a CAGR of 6.32% to reach USD 1.85 billion by 2029. Read More

What is the current Parachute Market size?

In 2024, the Parachute Market size is expected to reach USD 1.36 billion. Read More

Who are the key players in Parachute Market?

Aerodyne Research LLC, Mills Manufacturing, Parachute Systems, RTX Corporation and Safran are the major companies operating in the Parachute Market. Read More

Which is the fastest growing region in Parachute Market?

Latin America is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Parachute Market?

In 2024, the North America accounts for the largest market share in Parachute Market. Read More

What years does this Parachute Market cover, and what was the market size in 2023?

In 2023, the Parachute Market size was estimated at USD 1.27 billion. The report covers the Parachute Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Parachute Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Parachute Market Share

Statistics for the 2023 & 2024 Parachute market share, created by Mordor Intelligence™ Industry Reports. Parachute share report includes a market forecast to 2029 and historical overview. Get a sample of this industry share analysis as a free report PDF download.

Market Share of Parachute Industry

The military parachute market is semi-consolidated, with many prominent players competing for a larger market share. The major players in the market are Safran, RTX Corporation, Aerodyne Research LLC, Mills Manufacturing, and Parachute Systems. The stringent norms and regulatory policies in the defense sector are anticipated to restrict the entry of new vendors.

Economic conditions influence the sales of technology-based platforms such as parachutes in dominant markets such as Europe and Asia-Pacific. Delays or failures in obtaining licenses and certifications for export can also cause business uncertainty, which can hurt vendors' businesses and operating results. The key players are highly investing in developing innovative products and efforts to capitalize on parachutes' proficiency. Rising demand for parachutes for military applications drives the market growth.