The Military Parachute Global Market Report 2023, provides comprehensive information on the military parachute market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Military Parachute Global Market Report 2023, the market size is expected to grow from $1.23 billion in 2022 to $1.32 billion in 2023 at a compound annual growth rate (CAGR) of 7.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global military parachute market size is expected to reach $1.71 billion in 2027 at a CAGR of 6.7%.
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Advancements in parachute technology are a key trend gaining popularity in the military parachute market. Major companies operating in the military parachute market are adopting new technologies to sustain their position in the market. For instance, in August 2021, Technodinamika Group, a Russia-based technology company launched Gorizontal-4000 cargo parachute system technology to airdrop Taifun-VDV 4×4 armored. The new system is simpler to set up and separates after it lands, enabling soldiers to leave the drop zone right once and flee danger.
The military parachute market is segmented:
1) By Product Type: Round Type Parachute, Cruciform Parachute, Ribbon And Ring Or Annular Parachute, Ram Air Parachute
2) By Components: Canopy, Cords, Tapes Or Webbings, Metal
3) By Application: Personnel Parachutes, Cargo Parachutes
North America was the largest region in the military parachute market in 2022.
The table of contents in TBRC’s military parachute market report includes:
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Top Major Players
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