UAV Parachutes Market Size, Share, Growth, and Industry Growth by Type (Capacity 1-40kg, Capacity 40-200kg, and Others) By Application (Civil and Military), Regional Forecast To 2031

Updated On: 08 April 2024

UAV Parachutes Market REPORT OVERVIEW

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The global UAV parachutes market size was USD 7 million in 2021 and is projected to touch USD 45.04 million by 2031, exhibiting a CAGR of 20.1% during the forecast period.

UAV parachutes are designed to prevent the drone from being destroyed while also avoiding damage to people or things on the ground. They are the "final line of defense" in this situation, which makes them vital. UAV parachutes can be constructed as a recovery mechanism (to keep the drone from crashing) or as a regular landing device (for fixed-wing drones), with most parachute manufacturers offering both options. Deployment can be done manually or automatically, and gravity or kinetic methods can be used. To meet redundant system requirements, some manufacturers or operators equip drones with two parachutes.

Unmanned Aerial Vehicles (UAVs) are aerial vehicles that are controlled remotely and are frequently referred to as Drones. It's mostly employed in the defense and commercial industries. The majority of UAV parachute systems are utilized for country boundary surveillance. The meteorological conditions of a certain area are mapped and determined using UAV drones. This study contains data on unmanned aerial vehicles (UAVs) utilized in defense and security, logistics, agriculture, media, and mining, among other applications. Parachute recovery is particularly well suited to strategic fixed-wing UAV systems that require a high level of dexterity by allowing air vehicle recovery onto unprepared ground. During an attack, the drone's communication system may be damaged or equipment may be lost, making it unable to initiate the attack.

COVID-19 Impact: Supply Chain Disruption to Hinder Market Progress

Governments have resorted to lockdowns and stopped production units due to the COVID-19 outbreak. Although no manufacturing company has been spared, the pandemic's impact has not been consistent. While some suppliers and product manufacturers have seen dramatic decreases in sales and earnings, others have managed to stay afloat, albeit their success has been dependent on the markets they serve and their ability to switch to products that are in high demand at any given time.

LATEST TRENDS

"Technological Development to Bolster Market Progress"

The market is rising due to advancements in UAV technology with cutting-edge set of features and a growing number of applications such as remote sensing, product delivery, recreational use, and disaster relief. The global UAV parachute recovery systems market is expected to rise because to an increase in practice to provide widespread information for disaster assistance. Some of the main factors driving the UAV parachutes market growth and hence fueling the market are increased defense sector investment in UAVs for military reasons for tasks and to reduce soldier fatalities.

UAV Parachutes Market Segmentation

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• By Type Analysis

By type, the market is segmented into Capacity 1-40kg, Capacity 40-200kg, and Others.  

• By Application Analysis

Based on application, the market is classified into Civil and Military.

The military segment is expected to be the leader because the military drones come in a variety of sizes and are designated as class I, class II, or class III (based on weight), with the size chosen depending on the mission or project. Differentiation in size causes a variety of environmental issues, including accidents, operational disruptions during takeoff or landing, and mid-flight disruptions. In such situations, emergency recovery measures such as parachutes can be useful.

DRIVING FACTORS

"Increasing Demand from Various Applications to Facilitate Industry Progress"

Military parachutes have been used to drop soldiers and supplies into action since the Second World War. Since then, they've been widely used in a variety of battle zones, mainly by Special Forces from industrialized countries. Parachutes' mechanism of action has also improved due to the advances in airborne technology, making them safer and more dependable for military parachutists. Over time, manufacturers have gradually accepted the notion of landing aviators safely. The UAV parachute recovery technology has increased the military parachutes sector in a variety of non-military applications. Cargo chutes, sports chutes, rescue, recovery, and break chutes are just a few of the most common uses.

"Rising Adoption in Logistics Sector to Magnify Market Growth"

A drone is a plane that does not have a human pilot on board. Its flight is either self-contained or controlled remotely by a pilot/operator on the ground. Drones have generally been employed for military and special military activities, but they are also being investigated for a growing range of civil applications, including policing, firefighting, nonmilitary security work, power pipeline inspection, and product delivery. The market for goods delivery is enormous. Shipping, logistics, and online shopping companies are heavily investing in the entire supply chain, up to and including last-mile delivery, to make it as fast and efficient as possible. Moreover, there have been considerable technological advancements in the field of drone delivery. Drones could speed up delivery times, enhance accuracy, and lower the human cost associated with delivery.

RESTRAINING FACTORS

"Government Regulations to Impede Market Progress"

Even though UAVs are a fantastic technology, they can be dangerous if they fall into the hands of radicals. Terrorists can utilize them to carry out many assaults at the same time, resulting in an enhanced effect. Terrorist organizations use them as a weapon of choice because they are low-cost aircraft with simple operations that can quickly reach tough terrain. The market's growth is projected to be hampered by increased drone policies and rigorous airspace regulations by various countries. Organizations in the private and public sectors are utilizing cutting-edge technology.

UAV Parachutes Market REGIONAL INSIGHTS

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"Growing Adoption in Commercial Applications to Bolster Growth in North America"

North America is likely to dominate the UAV parachutes market share because of the use of unmanned aerial vehicles (UAVs) expands beyond military to commercial applications, new risks, such as crash events, are appearing. With the implementation of rules that would encourage the more widespread use of drones, more of these exposures are anticipated to occur, culminating in multi-million dollar claims against operators, manufacturers, and linked firms.

Asia-Pacific is the second-largest market shareholder globally. Developing countries such as China, Japan, Australia, South Korea, and India are implementing drone technology into their industrial verticals due to a fast surge in drone applications globally. China, for example, is turning to unmanned aerial vehicles (UAVs) to address a number of domestic issues. In China, there are a few examples where drone technology is being used.

KEY INDUSTRY PLAYERS

"Major Players Acquiring Start-Ups and Expanding Consumer Base to Improve Market Position"

The market for unmanned aerial vehicles is very competitive, with a slew of major businesses vying for a larger slice of the pie. The defense and homeland security industry's severe safety and regulatory rules are projected to limit new entrants. The commercial and civil segment is likely to grow rapidly due to the entry of several competitors, as the category is not regulated by economies of scale. Companies with better technical capabilities are expected to make major contributions to UAV propulsion systems and payload characteristics, resulting in a shortened development cycle time and greatly enhancing mini-UAV operational capabilities.

INDUSTRY DEVELOPMENT

February 2019: ParaZero Limited confirmed that their SafeAir system, which is installed on the DJI Phantom 4, will comply with Slovenian UAS laws.

List of Market Players Profiled

• ParaZero (Israel)
• Skygraphics AG (Germany)
• CIMSA Ingenieria (Spain)
• Fruity Chutes (U.S.)
• Butler Parachute Systems (U.S.)
• Mars Parachutes (U.S.)
• Indemnis (U.S.)
• Opale Parachutes (France)
• Drone Rescue Systems GmbH (Austria)
• Galaxy GRS (India)
• Rocketman Enterprise Inc (U.S.)

REPORT COVERAGE

The research covers various topics, including demand, product development, revenue generation, and sterile vial sales across regions. Considering sales during the forecast period, an optimistic and cautious scenario has been used to fully estimate the market. The survey also takes into account price point comparisons by region with the global average price.