DUBLIN--(BUSINESS WIRE)--Sep 12, 2018--The "Global Parachute Market - Segmented by Type, Purpose, and Geography - Growth, Trends Progress and Challenges (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.

The global parachute market is expected to reach USD 1.14 billion by 2023.A major share of the global parachute market is occupied by military sector, as they are extensively on used on aircraft and by troops. Training of troops, rising conflicts, and wartime scenario across the world are major factors that drive the usage of parachutes in the military.

Demand For Round Parachutes

Round parachutes were the most preferred type during the study period. This large share could be accounted to their growing application in the ejection seats, aircraft recovery systems, parasailing, and emergency landing system for small aircraft, among others. The market for ram air parachutes is poised to register a higher CAGR over the next five years, owing to their greater control benefits and wide spread application for military troops, sky diving, and other extreme adventure activities.

Growing Demand for Recreational Purposes

The growth in parachute market will be led by North American and European region, where the population is gaining awareness and has resources to engage in sports activities. The round air parachute segment is expected to witness the highest growth rate in Asia-Pacific, as the number of high net-worth individuals increases in the region. Japan, India, and China are anticipated to be the leading countries in the region for parachutes market in sports application.

Notable Market DevelopmentsMars 2020 mission performs first supersonic parachute test. Parachute testing is set to have new applications in the Mars rover mission.Property investors bet on the mall culture in emerging markets. Mall centers in emerging markets are keen on having a skydiving area and surf arena among the entertainment attractions.Indoor skydiving introduced in mall centers in Malaysia.

Key Topics Covered

1. Introduction

2. Research Methodology

3. Market Insights

4. Market Dynamics

5. Parachute Market by Parachute Type

6. Parachute Market by Application

7. Parachute Market by Geography

8. Competitive Landscape

9. Company Profiles

Airborne SystemsMills ManufacturingNH GlobalAerodyneZodiac AerospaceXC CorporationParachute SystemsAtair AerospaceNZ AerosportsPrecision Aerodynamics

For more information about this report visit https://www.researchandmarkets.com/research/gh3dw8/global_parachute?w=4

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KEYWORD:

INDUSTRY KEYWORD: TRAVEL OTHER TRAVEL

SOURCE: Research and Markets

Copyright Business Wire 2018.

PUB: 09/12/2018 08:50 AM/DISC: 09/12/2018 08:50 AM

http://www.businesswire.com/news/home/20180912005624/en