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Drogue Parachute Market Segmented By Silk Drogue Parachute, Nylon Drogue Parachute, Composite Material Drogue Parachute having First Fit and Retro Fit as Fit Type
A Drogue Parachute is quite similar to traditional parachutes, used to alleviate or decelerate a speeding object. Drogue Parachute is in particular a small parachute used to slow down a returning satellite or spacecraft preceding to deployment of the main parachute. Drogue Parachute is also considered as a minor parachute used to tug out the main parachute from its storage pack.
Drogue Parachute provides relatively lesser drag as compared to that of a conventional parachute owing to smaller coverage area. Though a Drogue Parachute cannot reduce the speed of an object as compared to conventional one, it can be used at speeds at which conventional parachutes would get torn apart. Also, Drogue Parachute gets inflated more easily and is considered to be relatively more reliable than conventional parachute.
Owing to being one of the key necessary element particularly in the aerospace and defense industries, the demand for Drogue Parachute is anticipated to witness substantial growth across the globe. This in turn is estimated to contribute to the growing market for Drogue Parachute during the forecast period.
Drogue Parachute Market growth is driven by factors such as growing focus on developing preventive safety equipment along backed by growing civil aircrafts demand.
Growing air passenger traffic across the globe is leading towards increasing demand for more number of aircrafts. This in turn is leading towards increasing production of aircrafts particularly the narrow body type.
Sales of Drogue Parachute is directly dependent on the production of aircrafts as well as the total fleet of aircrafts. Growing production of aircrafts particularly in the developing countries is estimated to create significant opportunities in the global Drogue Parachute market during the forecast period.
There has been substantial growth in the number of logistics aircrafts due to expanding e-commerce and pharmaceutical sectors and outperforming global trade growth since past few years. Air cargo represents approximately more than 35% of the global trade by value.
Major end-use industries, such as pharmaceutical companies, rely on air transport owing to the improved speed and efficiency in transporting high value, time and temperature sensitive drugs, particularly vaccines. Major e-commerce players, such as Alibaba, eBay, Amazon, amongst others, also trust air transport for express deliveries. This is turn is estimated to generate noteworthy demand for Drogue Parachutes in cargo planes all across the globe.
Growing aircraft deliveries is considerably adding to the global aircraft fleet size. With increasing number of aircrafts in use, the demand for service, repair and maintenance of various components, parts and systems is estimated to significantly drive the Retro fit sales of global drogue parachute market during the forecast period.
North America is expected to dominate the market in terms of market size for Drogue Parachute. In the coming years, countries like China and India, are expected to witness noteworthy rise in number of air travel passenger which is projected to upsurge the demand for aircrafts and subsequently Drogue Parachute.
Additional with the rapidly growing e-commerce and global trade, there has been rise in demand for safety systems for cargo and logistics planes as well in Europe and Middle East and Africa regions
Examples of some of the market participants identified across the value chain of the global Drogue Parachute market include:
The research report presents a comprehensive assessment of the Drogue Parachute Market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.
It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to Drogue Parachute Market segments such as geographies, valve type, and vehicle type.
The global Drogue Parachute Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The global Drogue Parachute Market report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The global Drogue Parachute Market report also maps the qualitative impact of various market factors on market segments and geographies.