“Global Drogue Parachutes Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global drogue parachutes market report has been segmented on the basis of material type, end-use industry, and region.
Global Drogue Parachutes: Market Overview
Drogue parachutes are widely used in aircrafts and are deployed to slow down speed of fast moving aircraft or other vehicles. They are specifically developed and designed to be easily removed and installed in the aircrafts. They are effectively deployed for landings on icy or wet runways. Drogue parachutes when deployed trail behind aircraft and extraction parachutes which releases pallet with load that rapidly decelerates speed of an aircraft for landing on icy or short runway. They are especially designed to minimize effect on radar cross section and aerodynamic drag which in turn ensures aircraft stealth and performance characteristics of aircraft while flying and landing.
Global Drogue Parachutes: Market Dynamics
Increasing production of aircraft in developed and developing countries is resulting into high demand for parachutes products especially drogue parachutes which have wide applicability in various types of aircrafts, owing to their superior properties such as high drag-ability with minimum weight and material. This is a major factor expected to drive growth of the global market during the forecast period.
Increasing aircrafts sale in developing countries, coupled with high applicability of drogue parachutes in military sector, owing to aerodynamic drag characteristics of drogue parachutes which creates air resistance using force of wind which pushes aircraft in opposite direction of motion and help an aircraft to land safely on wet, short, or icy runways is another factor expected to proliferate growth of the global market in the near future.
Moreover, increasing number of landing and flying stability safety regulations across aircraft industries and need for compliance with quality standards of drogue parachutes, is resulting into growing demand of drogue parachutes in aviation sector across the globe. In addition, growing demand for high-quality performance and durable drogue parachutes for military activities is another major factors expected to further boost growth of the global drogue parachutes market.
Furthermore, increasing technological advancements and R&D activities by prominent players are expected to create new opportunities in terms of revenue for players operating in the target market in the next 10 years.
However, high cost associated with drogue parachutes is a major factor expected to hamper growth of the global market to certain extent.
Global Drogue Parachutes: Region Analysis
The markets in North America and Europe are expected to contribute moderate revenue shares in the global market, owing to increasing demand for drogue parachutes from defense sector, presence of advanced infrastructure, and growing aviation activities that highly deploy drogue parachutes in the countries such as Germany and the US in this region. In addition, Asia Pacific drogue parachutes market is expected to register significant revenue growth in the global market in terms of revenue and is expected to witness high revenue growth over the forecast period. This can be attributed to increasing aviation sale, rising R&D activities, and presence of major players operating in the emerging economies such as India and China. In addition, growing merger and acquisition activities among regional and international players is expected to further support growth of the market to certain extent in this region.
Global Drogue Parachutes Market Segmentation:
By Material Type:
- Composite Material
By End-use Industry:
- Commercial or Civil
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Wills Wing
- Fruity Chutes Inc.
- Spherachutes, LLC
- Butler Parachute Systems
- Rocketman Enterprises, Incorporated
- Mills Manufacturing Corporation
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