Transparency Market Research in its new report titled, “Parachute Fabric Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the parachute fabric market. The TMR report anticipates that the growth in the tourism industry will drive the parachute fabric market during the forecast period i.e, 2018-2026.
The TMR report has split the parachute fabric market in terms of raw material and region. On the basis of raw material, the parachute fabric market is divided into silk, nylon, canvas, and others. Silk material is lightweight, thin, strong, fire resistant, easy to pack, and springy. Thus, it is majorly used in the manufacture of parachute. Nylon is another raw material used in the manufacturing of parachute. Nylon is more superior to silk. It has more elasticity than silk. It is also resistant to mildew and is cheaper compared to silk material. Demand for nylon is higher compared to silk material in the parachute fabric market. The others segment consists of materials such as dacron and Kevlar. The segment held low share of the parachute fabric market in 2016. Dacron and Kevlar are recently being used in the manufacture of parachute; therefore, demand for these raw materials are observed to be less. Silk and nylon are the majorly preferred raw material for the manufacturing of parachute fabric. However, the share of others segment i.e. Dacron and Kevlar are anticipated to rise during the forecast period, says TMR analyst.
In terms of regional perspective, the parachute fabric market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Based on demand, North America accounted for the dominant share of the parachute fabric market, followed by Europe and Asia Pacific. Demand for these fabrics is high in North America as people in the region are more inclined toward water sports. The region is also the highest spender in defense. Thus, demand for parachutes is high for military purpose. The U.S. defense force is one of the largest in the world and there has been a continuous increase in the defense spending by the U.S. government. Presence of large number of tourist areas and growth in the tourism industry in countries such as India, Thailand, Singapore, and Malaysia are estimated to boost the demand for parachute fabric in Asia Pacific region. Japan, India, and China are anticipated to be the leading countries of the parachute fabric market in military application. Latin America and Middle East & Africa accounted for low share of the parachute fabric market in 2016. However, demand for parachute fabric in these regions is projected to rise in the near future. Countries in Middle East & Africa and Latin America are striving to improve their tourism industry. Tourism in Brazil is observed to be growing sector and key to the economy of several regions of the country.
Major manufacturers operating in the global parachute fabric market are profiled in this report to give a better competitive analysis and these include Parachute Systems, Airborne Systems, Ruby Mills Ltd., Shahlon Group and FXC Corporation.
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