The parachute market is a diversified and competitive market with a moderate number of players. The key players in this market are identified through the annual revenue generated by them through the delivery of different types of parachutes. North America and Europe region have the leading parachute manufacturers and integrators. The rising demand for military and cargo parachutes has encouraged companies to adopt organic and inorganic growth strategies to increase their market share in the global parachute market.
The industry has seen rising interest in the airdrop or air delivery applications for better operational flight envelope. The aerial delivery aircraft limits the extremes of low altitude and high speed, which minimizes the aerial delivery aircraft’s safety. It also challenges the robustness of the system as well as durability and strength of the cargo components.
Major growth strategies adopted by companies include the manufacturing of high-quality military and cargo parachutes. Majority of the market players’ product offerings includes not only troop, cargo, and custom-based parachutes, but also a wide range of drag chutes, sports parachutes, and recovery parachutes. Majority of the market players present in this industry have their clientele in aviation and military sectors, which includes governmental organizations such as Ministry of Defense (MoDs), police procurement units, and defense companies.
The global parachute market is diversified and competitive, with the majority of players from the North American and European regions. The market is dominated by companies based on their core competencies. Key players in this market include Airborne Systems (U.S.), Mills Manufacturing (U.S.), Butler Parachute Systems (U.S.), Spekon (Germany), FXC Corporation (U.S.), and CIMSA Ingenieria (Spain). These companies adopted various growth strategies, such as new product launches and contracts to capture a majority share in the growing global parachute market. These companies together held a majority share of the global parachute market in 2014.
Airborne Systems is the leading company in the global parachute market. The company majorly supplies its products across industries such as aerospace, military, and engineering design services. The company has been adopting various strategies such as business contracts and sales agreements in order to collaborate with the defense forces of the U.S. and European countries to strengthen its parachute business.
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Spekon is estimated to hold the second position in the global parachute market, in 2015. Since the company majorly manufactures parachute systems for defense sector, it has been focusing on new business contracts with the military forces of different countries as a strategy to increase its market share, The company is keen to explore new markets such as the Middle East and APAC and also attracts new customers by introducing innovative parachutes such as troop, emergency, cargo, and custom. It also focuses on R&D and new product development.