UAV Parachute Recovery Systems Market 2019: Detailed Overview of Present and Future Industry Trends till 2026 with Major Key Manufacturer Such AS Indemnis, Fruity Chutes, Butler Parachute Systems, & more....

The global market for UAV parachute recovery systems was valued at USD 96.73 million in 2019 and is expected to grow at a CAGR of 6.8% in the forecast period 2019-2026.

UAV-based technologies are witnessing significant growth not only in the military but in other commercial sectors such as retail, delivery and transport, construction, and agriculture, among others. For instance, in January 2019, the e-commerce giant Amazon unveiled its new drone as a part of its ‘Prime Air Programme’ initiative. This drone is designed with an aim to scale the company’s delivery network efficiently. However, for technologies such as drones to become valuable and integrated contributors to any industry vertical, a significant amount of time and investment is required in R&D.

The technology is at its nascent stage and cost around USD 2,000–USD 3,000 (consumer and commercial); thus, it demands cautiousness to avoid untimely crashes and malfunctions during operation. UAV parachute recovery systems ensure smooth functioning, especially during the landing process.
The use of drones in the military was traditionally limited to policing and surveillance. According to a study conducted by Goldman Sachs, the military segment holds an approx. 70% share in the overall drone market, followed by commercial and consumer or recreational applications.

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China to Spearhead Growth of UAV Parachute Recovery Systems Market in Asia-Pacific

On account of a sharp increase in the applications of drones internationally, developing countries such as China, Japan, Australia, South Korea, and India are incorporating drone technology in their industrial verticals. For instance, China is moving towards UAV systems to deal with several domestic problems. Some of the cases where drone technology is being applied in China are:

In 2013, China used drones designed by the Chinese Academy of Sciences Institute of Remote Sensing Applications to image earthquake-stricken areas in Lushan
The Ministry of Environmental Protection uses drones to monitor industrial polluters in Hebei, Shanxi, and Beijing
SF Express, one of the major delivery service provider company, is experimenting with drones for package delivery, with the permission of the Professional Regulation Commission (PRC) government

The Major Players Covered in this Report: There is intense competition among notable vendors in the global UAV parachute recovery systems market. Indemnis, Fruity Chutes, Butler Parachute Systems, Inc., ParaZero Drone Safety Systems Ltd., Galaxy GRS, Drone Rescue Systems GmbH, Skycat, and Mars Parachutes., & More...

By Application, Commercial, Military
By UAV, Fixed Wing, Rotary Wing
By Application, Preventive Medicine, Molecular Medicine, Genomics, Drug Development, Proteomics, Others

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Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for UAV Parachute Recovery Systems in the APAC Region:
Asia-Pacific region is anticipated to hold the largest market share in the global UAV Parachute Recovery Systems market during the forecast period 2019-2026. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region. India is one of the largest producers of UAV Parachute Recovery Systems and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of UAV Parachute Recovery Systems. The favorable climatic conditions and growth of agricultural inputs and allied services like cold storage and warehousing in India are prompting higher production.

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Recent Developments:
In February 2019, ParaZero Limited announced to comply with Slovenia’s UAS regulations with its SafeAir system fitted to the DJI Phantom 4 drone

In December 2018, Drone Rescue Systems GmbH developed an intelligent parachute rescue system with a focus on reliable, autonomous crash detection for DJI’s drone model ‘DJI M600’

In August 2018, Air Force Life Cycle Management Center signed a contract with Butler Parachute Systems Inc. worth USD 41,200,000 for the manufacturing & delivery of commercial-off-the-shelf back-mounted parachutes to be used for the purpose of low-speed bailout

In April 2018, Fruity Chutes Introduced Parachute Launcher of DJI Mavic Pro with following Features:
Lightweight, High-Efficiency Annular Parachute
Automatic Trigger System (ATS) Failsafe Automatically Detects Drone Failure
Independent Power Source
Light System Mounts around the Center of the Mavic

In February 2016, Indemnis completed its ASTM Certification in Rome and New York in Alliance with Northeast UAS Airspace Integration Research (NUAIR) association

Key Questions Answered in the Report:
What is the current scenario of the Global UAV Parachute Recovery Systems market? How is the market going to prosper throughout the forecast period?
What are the emerging technologies and related tools that are going to profit the market?
What is the current size of the Global UAV Parachute Recovery Systems Market?
Which segments are the fastest growing and the largest in the market? What is their market potential?
What are the driving factors contributing to market growth during the short, medium, and long term?

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