Parachute Fabric Market

Parachute Fabric Market – Overview

The global parachute fabric market is anticipated to expand at a promising rate from 2021 to 2031 (forecast period). Over the last few years, the global parachute fabric market has grown significantly. The global passion for aerial activities and war circumstances has resulted in an unexpected increase in demand for parachutes which is expected to drive the global parachute fabric market. Moreover, the COVID-19 pandemic had an impact on the global parachute fabric market; certain suppliers and product makers experienced a significant drop in revenue and profit. However, the worldwide market is witnessing growth with relaxations of lockdowns in several nations.

Parachute Fabric Market – Competitive Landscape

Major players operating in the global parachute fabric market are Parachute Systems, Shahlon Group, Airborne Systems, Ruby Mills Ltd., and FXC Corporation.

To widen their overseas footprint, key market players are increasingly employing marketing tactics such as collaborations, investments, new product development, technological breakthroughs, acquisitions, and R&D.

For instance, Airborne Systems (the United States) unveiled its Multi-Mission Parachute System in 2020. The Multi-Mission Parachute System is the most modern and high-performance parachutist system available.

Parachute Fabric Market – Trends and Opportunities

The global parachute fabric market is expected to gain from long-term contracts with manufacturing companies for military and commercial purposes. Moreover, developments in parachute fabrics to increase reliability is projected to boost the global parachute fabric market.

The parachute fabric market can be divided into silk, nylon, canvas, and others based on raw material. Silk is a lightweight, easy-to-pack, strong, thin, fire-resistant, and bouncy material. As a result, it is primarily employed in the fabrication of parachutes. Nylon is another basic material utilized in the production of parachutes. Nylon outperforms silk in terms of durability. It is more pliable than silk. It is also mildew resistant and less expensive than silk material. In the parachute fabric market, nylon has a higher demand than silk.

Moreover, other segments include kevlar and dacron. In 2016, this category had a small share of the parachute fabric market. Kevlar and dacron have recently been employed in the fabrication of parachutes; as a result, demand for these raw materials is likely to increase. Silk and nylon are the most commonly used basic materials in the manufacture of parachute fabrics. However, the share of other segments, such as kevlar and dacron, is expected to grow during the projection period.

Parachute Fabric Market – Regional Landscape

The parachute fabric market in North America is anticipated to grow during the forecast period. North America has a significant demand for these materials due to the region's preference for aero sports. The region also spends the most on defense. As a result, there is a strong need for parachutes for military purposes. The United States has one of the greatest defense forces in the world, and the government's defense spending has been steadily increasing.

The Asia Pacific parachute fabric market is projected to expand during the forecast period. The presence of a high number of tourist locations and expansion in the tourism industry in countries such as India, Malaysia, Singapore, and Thailand are expected to increase demand for parachute fabric in the Asia Pacific region. Japan, China, and India are expected to witness significant growth in the military parachute fabric market.

In 2016, Latin America and the Middle East and Africa had a small share of the parachute fabric market. Nevertheless, demand for parachute fabric is expected to increase in these locations in the near future. Countries in the Middle East and Africa and Latin America are working to boost their tourism industries. Tourism in Brazil is a booming industry that is important to the economies of numerous parts of the country.