Market Overview
The Global UAV Parachutes Market is expected to reach a value of
USD 10.7 million in 2023, and it is further anticipated to reach a market value of
USD 58.7 million by 2032 at a
CAGR of 20.8%. The market has seen significant growth over the past few years and is predicted to grow significantly during the forecasted period as well.
A UAV or drone parachute serves as an emergency recovery system for different unmanned aerial systems (UAS), including fixed-wing aircraft, multicopters, VTOL, & and other UAVs, particularly activated via ballistic or passive air extraction methods, which ensures a safe descent to the ground by installing a parachute. It acts as a vital safety measure for unmanned aerial vehicles in diverse operational scenarios.
Key Takeaways
- By Application, Military segment takes the lead in 2023
- By Product, Rotary-wing UAVs segment takes the lead in 2023.
- In addition, the Fixed-Wing UAVs segment is expected to have robust growth over the forecasted period.
- By Capacity, 1 to 40 kg take the lead & drive the market in 2023.
- North America has a 54.7% share of revenue in the Global UAV Parachutes Market in 2023.
Market Dynamic
The UAV parachute market is experiencing growth driven by development in UAV technology, featuring advanced capabilities and an expanding range of applications like product delivery, remote sensing, recreation, & and disaster relief. The market's expansion is further fueled by global initiatives focused on providing comprehensive information for disaster assistance. Also, high investments in UAVs by the defense sector, driven by the goal of preventing soldier fatalities, contribute majorly to the market's global growth.
However, security concerns come out as a major constraint for the UAV parachute market, as the wireless nature of UAVs makes them susceptible to remote hacking by potential adversaries. Strict drone policies & and airspace regulations enforced by various countries are anticipated to restrict market growth. However, even after these challenges, growth opportunities are expected from private & government organizations leveraging advanced technology for modern agriculture during the forecast period.
Research Scope and Analysis
By Product
The global UAV parachute market categorizes its products into fixed-wing UAVs & rotary-wing UAVs. As of 2023, the rotary-wing UAVs segment has dominated the market, a trend anticipated to sustain throughout the forecast period, which is attributed to the installment of various rotor wings connected to a single central body, providing advantages like better maneuverability, accurate path control, compact design, & user-friendly operation.
Further, these attributes position rotary-wing UAVs are mainly well-suited for different commercial applications, like recreational activities, aerial photography, agriculture, & aerial inspections. Also, the segment enables at least four rotors & a maximum of eight, and these features are anticipated to drive the continued growth of rotary-wing UAVs during the forecasted period.
By Capacity
In the global UAV parachutes market, a major segment centers around parachutes with a payload capacity ranging from Below 40 kg, which is a major revenue share in 2023, as it addresses the diverse needs of UAVs across various industries. As of the latest assessment, this capacity range provides a substantial portion of the market demand. UAVs within this weight range find applications in tasks like mapping, surveillance, environmental monitoring, and small-scale cargo deliveries.
Further, the need for efficient parachute recovery systems in this weight class is driven by the rise in the deployment of UAVs for both commercial & military purposes. Also, the forecast indicates sustained growth in the 1 to 40 kg capacity segment, as technological development continues to improve the capabilities of mid-sized UAVs, expanding their usage in a wide range of sectors & strengthening the importance of reliable parachute recovery systems.
By Application
Based on applications, the global UAV parachute market is categorized into military & commercial sectors. In 2023, the military segment claims the largest market share, mainly because UAVs play a pivotal role in minimizing operational disruptions for military operations.
Further, the commercial category is expected to drive the market's growth during the forecast period, which is driven by several commercial applications, like epidemic control, crop health monitoring, identification and prevention of healthcare delivery, trespassing, product distribution, & remote sensing. As these diverse applications gain importance, as the commercial segment is expected to be a key driver in shaping the expansion of the UAV parachute market in the coming years.
The UAV Parachutes Market Report is segmented on the basis of the following:
By Product
- Rotary-Wing UAVs
- Fixed-Wing UAVs
By Capacity
- Below 40 Kg
- 40 to 200 Kg
- Others
By Application
Regional Analysis
North America holds a share of 54.7% in 2023 in the UAV parachutes market and has seen substantial growth in recent years, fueled by the large adoption of unmanned aerial vehicles (UAVs) in diverse industries. The region's emphasis on technological innovation, along with strict safety regulations, has driven the demand for advanced parachute recovery systems. With applications spanning from surveillance to agriculture, North America's UAV parachute market is expanding as industries recognize the essential role of reliable safety measures for UAV operations.
Further, the Asia Pacific, region is experiencing rapid growth in the UAV parachutes market, as fast economic development, major defense expenditures, and the growing use of drones in sectors like agriculture & infrastructure are driving the market growth. As governments in Asia Pacific focus on improving their UAV capabilities, the need for effective parachute recovery systems is expected to rise, contributing to the overall global evolution of the UAV parachute market.
By Region
North America
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
Competitive Landscape
The global UAV parachutes market experiences intense competition with several players competing for market share. Companies aiming to develop innovative parachute recovery systems, enhance safety features, and cater to diverse UAV applications. Also, the competition is marked by development in technology, strategic collaborations, & a drive for market leadership in this dynamic & evolving sector.
In October 2023, Aerial Vehicle Safety Solutions (AVSS) unveiled the PRS-M350, a parachute recovery system customized for the DJI M350 RTK drone &compliant with ASTM F3322 standards.
Further, valued at USD 3,600, it meets the European Union Aviation Safety Agency’s M2 requirements, facilitating advanced flight operations for commercial drone users, which ensures compatibility with the previous PRS-M300 model, simplifying use for existing DJI M300 RTK drone owners via a straightforward plug-and-play design & firmware updates, aiming to enhance safety & compliance in the drone industry with this user-friendly solution.
Some of the prominent players in the global UAV Parachutes Market are:
- Galaxy GRS
- Butler Parachute System
- Indemnis
- Mars Parachutes
- Opale Parachutes
- Rocketman Enterprise
- CIMSA Ingenieria
- ParaZero
- Fruity Chutes
- Other Key Players
COVID-19 Pandemic & Recession: Impact on the Global UAV Parachutes Market:
The COVID-19 pandemic & the following economic downturn significantly impacted the global UAV parachutes market, as the broader disruptions led to a slowdown in manufacturing, supply chain challenges, & reduced investments in UAV technologies. As travel restrictions & social distancing measures cut down drone operations, the need for UAV parachutes, important for safety & regulatory compliance, experienced a temporary decline.
However, the crisis also highlighted the importance of resilient & adaptable UAV systems, driving innovation in parachute technologies for improved safety. As the global economy gradually recovers, the UAV parachutes market is expected to revive, spurred by renewed investments, regulatory development, and increasing recognition of drones as vital tools in various sectors.
Recent Development
- In November 2023, AVSS, a Canadian aerospace company, secured a contract from the Government of Canada to integrate their Guided Parachute Recovery System & Real-Time Intelligence Landing Software on DroneUp's Prism Sky & Blueflite's Cobalt 46 platforms utilized for last-mile delivery. Further, the government will assess GPRS against an unguided Parachute Recovery System (PRS) using industry-standard testing, evaluating metrics like crosswind mitigation, glide ratio, and dynamic safe landing zone selection, which focuses on enhancing drone delivery safety & efficiency.
- In October 2023, Xpeng Aeroht, a subsidiary of Chinese automaker Xpeng, showcased a parachute deployment system for its eVTOL (electric vertical takeoff & landing) vehicle during the fifth annual Tech Day in Guangzhou, China, which is developed for ultra-low altitude rescues, the multi-parachute system has a one-ton capacity & contains an embedded safety rescue control panel, where following deployment, the vehicle drops at a rate of 16 feet per second, providing an innovative safety feature for the electric flying vehicle.
- In July 2023, Russian fighter jets deployed parachute flares, captivating US drones to execute evasive maneuvers to evade what were considered as 'dangerously close' encounters, interrupting ongoing military operations in Syria, and marking an increase in tensions in the region as aerial interactions between Russian & US forces intensified, impacting the normal course of military missions in the area.
Report Details
| Report Characteristics |
| Market Size (2023) |
USD 10.7 Mn |
| Forecast Value (2032) |
USD 58.7 Mn |
| CAGR (2023-2032) |
20.8% |
| Historical Data |
2017 - 2022 |
| Forecast Data |
2023 - 2032 |
| Base Year |
2022 |
| Estimate Year |
2023 |
| Report Coverage |
Market Revenue Estimation, Market Dynamics, Competitive Landscape, Growth Factors and etc. |
| Segments Covered |
By Product (Rotary-Wing UAVs and Fixed-Wing
UAVs), By Capacity (Below 40 Kg, 40 to 200 Kg, and
Others), By Application (Civil and Military) |
| Regional Coverage |
North America – The US and Canada; Europe – Germany, The UK, France, Russia, Spain, Italy, Benelux, Nordic, & Rest of Europe; Asia- Pacific– China, Japan, South Korea, India, ANZ, ASEAN, Rest of APAC; Latin America – Brazil, Mexico, Argentina, Colombia, Rest of Latin America; Middle East & Africa – Saudi Arabia, UAE, South Africa, Turkey, Egypt, Israel, & Rest of MEA
|
| Prominent Players |
Galaxy GRS, Butler Parachute System, Indemnis, Mars
Parachutes, Opale Parachutes, Rocketman Enterprise,
CIMSA Ingenieria, ParaZero, Fruity Chutes, and Other
Key Players |
| Purchase Options |
We have three licenses to opt for: Single User License (Limited to 1 user), Multi-User License (Up to 5 Users), and Corporate Use License (Unlimited User) along with free report customization equivalent to 0 analyst working days, 3 analysts working days and 5 analysts working days respectively. |
Frequently Asked Questions
The Global UAV Parachutes Market size is estimated to have a value of USD 10.7 million in 2023 and is
expected to reach USD 58.7 million by the end of 2032.
North America has the largest market share for the Global UAV Parachutes Market with a share of about
54.7% in 2023.
Some of the major key players in the Global UAV Parachutes Market are Galaxy GRS, Butler Parachute
System, Indemnis, and many others.
The market is growing at a CAGR of 20.8 percent over the forecasted period.