Global Commercial And Military Parachute Market 2017-2021
About Commercial and Military Parachute
Parachutes are devices used to reduce aerodynamic motion of an object by creating drag (or lift for ram-air parachutes used in paragliding) to drop payloads including people, equipment, bombs, and relief aids from airborne platforms. Historically, parachutes were made using lightweight silk materials; however, most modern parachutes are made using nylon or synthetic polymers. Parachutes are broadly classified into two categories such as ascending and descending canopies, where former ones are designed to provide ascend movements or lift to the flying paragliders, whereas the descending canopies are used for airdropping any object or people from airborne platforms.
Technavio’s analysts forecast the global commercial and military parachute market to grow at a CAGR of 5.79% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global commercial and military parachute market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sale of commercial and military parachutes that are of four different types, namely round parachute, ram-air parachute, square parachute, and drogue parachutes.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Commercial and Military Parachute Market 2017-2021
Technavio recognizes the following companies as the key players in the global commercial and military parachute market: Airborne Systems, Mills Manufacturing, BAE Systems, SPEKON, and Zodiac Aerospace.
Other Prominent Vendors in the market are: Aerodyne Research, Ballenger International, CIMSA Ingeniería de Sistemas, FXC CORPORATION, and Parachutes Australia.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is use of nanotechnology in parachute manufacturing. Nanotechnology is a wide and interdisciplinary area of R&D activities that has developed in last two decades. It is defined as the study and use of structures smaller than 100 nanometers in size with novel properties. This technology is capable of transforming the ways in which materials are produced, and the functionalities of the same can be retained or augmented. Primarily, there are three types of nanomaterials that are used in the manufacturing process, which are nanostructured metals, polymer nanocomposites, and anti-corrosion coatings. The impactions of nanotechnology or nanomaterial are done to ensure that any products or components retain their operational superiority in many areas, like enhancing the physical properties of structural and non-structural polymers to prevent corrosions or in delivering lightweight materials.”
According to the report, one driver in market is growing occurrences of joint-paratrooping exercises. The increasing instability in various regions across the globe, including political volatility, violence, and increasing dominance of rebellious forces has considerably dominated the contemporary military agenda of the international community in recent past. Due to such reasons, various military organizations have been emphasizing on establishing bilateral training exercises so that they can exchange their combatting knowledge and expertise. Of late, many such bilateral exercises have taken place, where the military forces of the participating countries had jointly taken part in joint-paratrooping exercises. In March 2015, paratroopers of the US and the UK armed forces conducted a joint training exercise at the Holland Drop Zone in North Carolina, US. Both the paratrooping teams were responsible for the rapid response airborne operations of the respective countries. Also, in the aforementioned training, paratroopers of both the countries had used square-shaped parachutes.
Further, the report states that one challenge in market is occurrences of parachute malfunctioning. Parachuting has been a widely accepted approach among military forces in deploying platoons rapidly in areas where other means of mobilizations find hindrance. Yet, there have been numerous occasions where military agencies had to sustain parachute malfunctions, which had also caused casualties or damage of military equipment. Such unusual events caused a slowdown in the adoption of parachute in certain specific military tasks. For instance, in April 2016, the US Army had to sustain damage of three Humvees during a heavy equipment drop training held at Hohenfels, Bavaria, Germany. Each vehicle cost approximately $220,000. It was also noted that all the three vehicles suffered parachute malfunction after the drop and thereby, posted a hurtling fall.
Airborne Systems, Mills Manufacturing, BAE Systems, SPEKON, Zodiac Aerospace, Aerodyne Research, Ballenger International, CIMSA Ingeniería de Sistemas, FXC CORPORATION, and Parachutes Australia.
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