Parachute Market Size, Share Analysis & Global Trends 2024-2032

Joey Moore18 Dec, 2024Other

The global parachute market is projected to grow from USD 635.8 million in 2023 to USD 974.6 million by 2032, achieving a compound annual growth rate (CAGR) of 4.8% during the period from 2024 to 2032. This growth is fueled by increasing demand across various sectors, including military, aerospace, and recreational activities, as safety and performance become paramount. The military segment, in particular, is expected to drive significant advancements in parachute technology, with ongoing investments aimed at enhancing operational capabilities and ensuring the safety of personnel. Additionally, the rising popularity of skydiving and other adventure sports is contributing to the demand for high-quality parachutes designed for recreational use.