An Incisive, In-depth Analysis on the Military Parachute Market
This study offers a comprehensive, 360 degree analysis on the Military Parachute market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Military Parachute market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
The published report covers broad information about Military Parachute market’s dynamics & trends, value (US$ Mn) volume (Units) projections, competition, recent developments and macro factors in the global Military Parachute market for the study period 2018 to 2027.
The global Military Parachute market is expected to create incremental $ opportunity worth over US$ 430.9 Mn by the end of the forecast period while growing at a CAGR of 4.6% for the period between 2018 and 2027. Increasing demand from personal use applications is expected to drive the demand in the Military Parachute market.
Brief Overview of Research Methodology Used
Future Market Insights (FMI) uses a modelling-based and triangulation methodology approach, which includes pricing analysis, market profiling, data collection, hypothesis generation, forecast development and competition mapping. Also, the report analyses the top players in the Military Parachute market.
In order to assess the global value sales in the Military Parachute market, we analyzed the parent market overview to arrive on market numbers. Also, the sales of each Military Parachute type (round type, cruciform parachute, ribbon and ring, ram air to name a few) in the global market has been analyzed for all the key countries as well as for key regions considered under the scope of this research.
Military Parachute Market: Dynamics
Increase in military expenditure and rise in border conflicts (which results in an increase in the use of unmannded aerial vehicle for ISR activities) are altogether spurring the demand for Military Parachutes. Moreover, increasing demand for these parachutes from countries, such as China, India, the U.S., Germany and others, is also supporting the demand in the Military Parachute market. Increase in spending for personal protective equipment especially for Military personnel is expected to positively impact demand for military parachutes.
However, varied testing standards and methodologies, flammability standards are not clearly defined and different suppliers (to different armies) use different standards and testing methods to specify their products. For instance, the U.K. & European Union follow BS EN or BS EN ISO, the U.S. follows ASTM, ISO or NFPA standards and other developed nations have their own testing protocols. Therefore, it becomes difficult for manufacturers to supply their products to the global market. This is an important factor hindering the growth of the market. Moreover, new technologies are coming in market which are helping customers repair their Military Parachutes instead of going for replacement. This is another factor hindering the growth of the market.
Growth of Round Type Parachutes Will Drive Demand in Military Parachute Market
The round type parachute is a prominent segment in the Military Parachute market. Round type parachutes can be used by a bunch of people at the same time. They are ideal to be used at relatively low altitudes. For cargo and military drop applications, mushroom or round shaped parachutes are preferred. According to insights developed while compiling this report, the demand for round type parachutes is estimated to be grow at a significant growth rate during the forecast period.
On the Basis of Application, Personnel Parachute to Be a Prominent Segment in Military Parachute Market
Personnel parachute segment is estimated to be one of the important segments in the Military Parachute market. This segment covers various types of military missions, including challenging special operations. Therefore, the personal parachute segment is estimated to grow at significant CAGR during the forecast period and will be followed by the cargo segment.
Europe and North America to Remain High Value – High Growth Regions in Military Parachute Market
On the basis of region, the Military Parachute Market report is segmented into six regions: Europe, Latin America, North America, Japan, APEJ and MEA. North America will be a significant market, with maximum demand coming from the personnel parachutes segment.
That apart, North America is home to key parachute manufacturers, such as Airborne Systems, BAE System Plc and Mills Manufacturing, to name a few. Moreover, the region is also home to some of the important Military Parachute manufacturers, such as Spekon, Ballenger International, Safran SA, Butler Parachute Systems Group, Aerodyne Research, LLC and many more. All of these factors make North America a significant market for Military Parachutes.
Manufacturers Rely on Supply Contracts with Geophysical Companies to Sustain in Military Parachute Market
Most of the manufacturers in the Military Parachute Market depend on long-term supply contracts or new product launches to sustain their market share in the Military Parachute market. For instance, Airborne Systems, in 2018, was awarded with a contract for E-MMPS (Multi-Mission Parachute System) for the US Marine Corps (USMC). The new Military Parachute features a glide ratio of 5.5:1 and can change to a glide ratio of 1:1 with a simple control input using the glide modulation system.
Similarly, in October, 2016, the company introduced new Hi-5 Military Parachutes that have a glide ratio of 5.5:1 and can change to a glide ratio of 1:1 with a simple control input using the glide modulation system.
Overview of Military Parachute Market Structure
The global Military Parachute market is a highly consolidated one with major players, such as Airborne System, BAE Systems Plc, Mills Manufacturing, Spekon, Ballenger International, Safran SA, Butler Parachute Systems Group Inc., Complete Parachute Solutions, Inc., Aerodyne Research, LLC, Cisma CIMSA Ingeniería de Sistemas, S.A., Cirrus Design Corporation,accounting for approximately 45% to 50% of the global Military Parachute market.
Future Market Insights analyzes the global military parachute market in its new publication titled “Military Parachute Market: Global Industry Analysis 2013–2017 and Opportunity Assessment 2018–2027”. The study provides thorough analysis and key insights on the military parachute market on the basis of type, application and region for the historical period 2013–2017 and forecast period 2018–2027. The objective of the report is to assess the dynamics in the military parachute market and provide key information pertaining to the segments of the global military parachute market. To provide a better understanding and support stakeholders for decision making and market analysis, the report has been incorporated with the analysis of drivers, restraints and trends that influence the current market scenario and are expected to impact the global military parachute market over the forecast period.The study provides data for 2017 along with an inclusive market forecast for the period 2018–2027.
Military Parachute Market: Segmentation
Military Parachute Market: Report Description
To comprehend and ascertain military parachute market opportunities and trends, the global military parachute market report has been categorically split into different sections based on product type, application and region. The global military parachute report starts with a market overview and provides market definitions and taxonomy along with value chain, drivers, & pricing analysis pertaining to the military parachute market. Following this, the military parachute market background has been covered, which includes the factors affecting the military parachute market such as the macro-economic factors, which include the region-wise growth rates of various GDP and various industries. The macro-economic factors in the military parachute market include the global statistics of military people and government investments. The market background also covers the market dynamics that affect the military parachute market. The dynamics covered in the report include restraints and trends. The market background also includes the value chain analysis wherein the flow of military parachutes from raw material manufacturers, manufacturers of military parachutes to end-users through various distributors and retailers involved is listed. The final part in the military parachute market background is the forecast factors, which include the factors that are expected to have an impact on the global military parachute market.
The sections that follow include the global military parachute market analysis by product type, application and region/country. All the above sections evaluate the military parachute market on the basis of various factors. Each section discusses the qualitative and quantitative aspects of the global military parachute market. To give a brief idea about the revenue opportunities from the end-use, delivery form and region/country-wise segments, the report also provides military parachute market value (US$ Mn) data, growth rates, military parachute market shares and total incremental $ opportunity indices for each segment over the forecast period (2018–2027).
In the final section of the military parachute market report, we have provided a detailed competition landscape with company market share and performance in order to provide report audiences with a dashboard view of key players operating in the global military parachute market along with their business strategies. This would enable clients to assess strategies deployed by market leaders in the military parachute market and help them develop effective strategies accordingly.
Military Parachute Market: Research Methodology
For military parachute market data analysis, we have considered 2017 as the base year with market numbers estimated for 2018 and forecasts made for 2018–2027. To ascertain the military parachute market, the global demand for military parachutes has been assessed and funneled down to different types w.r.t. region/country. The FMI assessment is based on a multipronged approach that comprises secondary and primary and triangulation of data obtained therefrom. During the initial phase of research work, the product mapping was done, in which the types of products offered by major players with respect to application area were identified. Further, in secondary research, data available in public domains such as industry association, company annual reports, white papers, publications, journals and government sites, among others sources was collected and accordingly, a set of data points were built. For the same, a top-down approach has been used to assess market numbers for each type and a bottom-up approach was used to counter validate the market estimation.The forecast presented in the report evaluates the actual market size (US$ Mn) in 2017 with regard to military parachuteand the expected market value in the global military parachute marketover the forecast period.
We have also analyzed the different segments of the global military parachute marketin terms of basis point share (BPS) to understand each individual segment’s relative contribution to market growth. This detailed level of information is important for identifying various key trends governing the global military parachute market. The report also analyses the global military parachute marketbased on the incremental $ opportunity & the global absolute $ opportunity. This is usually overlooked while estimating the market forecast; however, from a business development perspective, it is essential to identify the market attractiveness in terms of three indices, viz. market share index, CAGR index and incremental $ opportunity to identify the high potential resources in the military parachute market. Moreover, the military parachute market attractiveness index is the key to understanding the key segments in terms of their performance and growth in the global military parachute market. This market attractiveness index would help clients identify real market opportunities in the global military parachute market.