The Parachute Manufacturing industry experienced shaky, but overall positive, performance over the past five years. The sale of military products accounts for the majority of revenue. Consequently, when US military spending on parachutes began to grow in the five-year period, so did industry revenue. However, despite overall growth, the industry is far smaller than it used to be as the eventual wind-down of combat operations in the Middle East and congressional attempts to reduce the deficit initially reduced federal funding for defense, only returning to growth following 2013. Increased geopolitical tensions and conflict also bolstered foreign military demand for industry parachutes. Over the five years to 2023, industry revenue is forecast to rise as US military spending on parachutes is anticipated to continue as the overall defense budget is expanded, while exports are likely to renew their growth.
Companies in this industry manufacture parachutes, which are devices used to slow the motion of an object through an atmosphere by creating drag. This industry does not include powered parachutes or manufacturers that primarily produce parachute harnesses or components.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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