PUNE, India, July 18, 2016 /PRNewswire/ --
The report "Military Parachute Market by Application (Military, Cargo, Sports, Rescue, Recovery, Break Chutes), Type (Round, Ram-air, Square, Ring & Ribbon), Component (Canopy, Cords, Tapes, Webbings, Metal), Region (North America, Europe, Asia-Pacific, The Middle East, Latin America, Africa) - Global Forecasts to 2020", published by MarketsandMarkets, the global military parachute market size is estimated to reach USD 1.21 Billion by 2020, at a CAGR of 5.92% from 2015 to 2020.
Browse 74 market data Tables and 57 Figures spread through 132 Pages and in-depth TOC on "Military Parachute Market - Global Forecasts to 2020"
Early buyers will receive 10% customization On this report.
This growth is attributed to the bulk demand for parachutes being propelled by its deployment for military activities, with defense sector being the largest consumer. The growth in demand for parachutes will further be aided by the increase in rate of conflicts globally, the increase in the use of UAVs for ISR activities, and the increase in use of parachutes for recreation.
Military application segment to register the highest market size during the forecast period
The key applications considered for the market study are military, cargo, sports, rescue, recovery, and break chutes, wherein the overall military parachute market is dominated by the military segment. However, the sports segment is projected to grow at a comparatively higher CAGR during the forecast period of 2015 to 2020, primarily driven by the growth of aero sports. This trend is mainly being witnessed in the North American and European region.
North America dominates; Asia-Pacific to grow at the highest rate
The North American region dominates the global Military Parachute Market; increasing demand for cargo and personal parachutes for air delivery systems are the major drivers for the military parachute market across North America. The U.S. defense force is one of the largest in the world and there has been a continuous increase in the defense spending by the U.S. government. The market in Asia-Pacific is projected to grow at the highest CAGR during the forecast period. The key factors that will drive the growth of APAC military parachute market are the rise in maritime patrol services in the Indian Ocean and South China Sea and the increase in defense expenditures of India and China. The exports of small parachute in China grew by 284% in 2012 compared to 2009 as stated by NISAT. Huge domestic production base and consumption pattern of small parachutes is witnessing a strong growth in the APAC market.
Inquiry Before Buying : http://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=250386681
Airborne Systems (U.S.): The top player in the military parachute market
The major players in this market are Airborne Systems (U.S.), Mills Manufacturing (U.S.), Butler Parachute Systems (U.S.), Spekon (Germany), FXC Corporation (U.S.), and CIMSA Ingenieria (Spain), among others.
The report segments and analyzes the military parachute market on the basis of parachute applications (military, cargo, sports, rescue, recovery, break chutes), by components (canopy, cords, tapes, webbings, metal), and type (round, ram-air, square, ring & ribbon), and maps these segments and sub-segments across six major regions, namely, North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa.
Browse Related Reports
Sonobuoy Market by Technology (BT, SAR, DICASS, DLC, DIFAR, LOFAR, EER, ADAR, VLAD), Function (Active, Passive, Special Purpose), By Application (Defense, Commercial), Size (A, B, C), Deployment (Spring, Pneumatic, Free Fall, Cartridge) & Geography - Global Trends and Forecasts to 2020
MarketsandMarkets is the largest market research firm in terms of annual published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical info graphics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
Visit MarketsandMarkets Blog@ http://mnmblog.org/market-research/aerospace-defence
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets