Drone Parachute System Market Report 2024

This Drone Parachute System market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The drone parachute system market size has grown rapidly in recent years. It will grow from $6.09 billion in 2023 to $7.24 billion in 2024 at a compound annual growth rate (CAGR) of 18.9%. The growth observed during the historic period can be attributed to the rising adoption of UAVs in commercial sectors, increasing safety concerns, regulatory mandates regarding drone safety, a rise in drone-related accidents, and the expansion of drone applications in densely populated areas.

The drone parachute system market size is expected to see rapid growth in the next few years. It will grow to $14.51 billion in 2028 at a compound annual growth rate (CAGR) of 19%. The anticipated growth during the forecast period can be attributed to the expansion of drone delivery services, the implementation of stricter future safety regulations, the increasing use of drones in disaster relief and agriculture, rising investment in drone safety technologies, and the growing demand for multi-stage parachutes designed for heavier commercial drones. Key trends expected in this period include advancements in AI-powered deployment systems, stricter aviation safety regulations, the integration of drones into smart cities for surveillance and traffic management, the development of lighter and more efficient parachute materials, and the expanding use of drones for critical operations such as disaster response and infrastructure inspection.

The growing popularity of drone delivery services is anticipated to drive the expansion of the drone parachute system market. Drone delivery services involve the use of unmanned aerial vehicles (UAVs) to transport goods or packages directly to customers. This increase in drone deliveries is fueled by the need for efficiency and speed, enabling much quicker deliveries, particularly for urgent medical supplies. Additionally, advancements in technology, such as improved battery life and autonomous navigation, have enhanced the reliability of drones, making them a practical alternative to traditional delivery methods. Drone parachute systems improve drone delivery operations by safely slowing a drone’s descent in the event of a malfunction, thereby protecting both the cargo and the surrounding area. For example, in May 2023, a survey of 2,000 adults conducted by the UK’s Civil Aviation Authority (CAA) revealed that drone usage in the UK increased to 5% in 2023, up from 3% in 2021. Moreover, commercial drone deliveries are expected to grow by 30% over the next decade, compared to a 13% increase in the previous five years. Consequently, the rise in drone delivery services is set to propel growth in the drone parachute system market.

Leading companies in the drone parachute systems market are working on improving the reliability and efficiency of drone systems by introducing plug-and-play systems that simplify installation processes, reduce operational interruptions, and ensure consistent performance and safety during emergency landings. A plug-and-play system in drone parachute technology allows for easy integration into a drone without the need for complex installation or customization. For instance, in June 2024, Aerial Vehicle Safety Solutions (AVSS), a Canada-based aerospace firm, unveiled the PRS-M3E parachute system for DJI Mavic 3 series drones. This lightweight, plug-and-play system works seamlessly with DJI’s onboard PSDK and features a Parachute Recovery System (PRS) and a Flight Termination System (FTS) that can be activated automatically or manually. Weighing less than 130 grams, it meets maximum takeoff weight requirements and complies with ASTM F3322-22 and FAA standards. The European variant, PRS-M3EX, adheres to EASA MOC 2511 standards and includes a user-friendly FTS slide-in module.

In May 2023, ParaZero Technologies Ltd., an Israeli technology firm specializing in drone safety solutions, entered into a partnership with Parallel Flight Technologies. This collaboration aims to enhance the safety and reliability of drone operations by integrating advanced parachute systems with cutting-edge flight technologies, ensuring safe descent and recovery in case of drone malfunctions or emergencies. Parallel Flight Technologies, a U.S.-based drone technology company, offers sophisticated drone systems and solutions, including innovative flight stabilization and parachute recovery systems.

Major companies operating in the drone parachute system market are DJI Technology Co. Ltd., ParaZero Technologies Ltd., Autel Robotics Co. Ltd., Microdrones GmbH, Skydio Inc., DroneShield Limited, Flytrex Aviation Ltd., Parasafe LLC, Unmanned Systems Technology Ltd., Unmanned Aerial Vehicle Operating System (UAVOS) Inc., Skycat.pro OY, Drone Rescue Systems GmbH, ViewproUAV Technology Co. Ltd., Mars Parachutes LLC, Fruity Chutes Inc., Hubsan Technology Co. Ltd., Dronavia SAS, Aerial Vehicle Safety Solutions Inc. (AVSS), Opale Parachutes SARL, ElevonX Ltd.

North America was the largest region in the drone parachute system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the drone parachute system marker report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the drone parachute system marker report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A drone parachute system is a safety feature designed to ensure controlled and safe landings during emergencies by deploying a parachute through a specialized mechanism and electronics. Its primary advantage is that it minimizes potential damage to the drone and its surroundings by providing a reliable means of descent in the event of a malfunction or loss of control.

The main types of drone parachute systems include spring release deployment, sling or catapult release deployment, pyrotechnic deployment, and compressed gas deployment. Spring release deployment systems utilize a spring-loaded mechanism to quickly eject and deploy the parachute when necessary, which can be triggered either manually or automatically, relying on the energy stored in a compressed spring for rapid deployment. The product types include single-use parachutes, multi-use parachutes, rapid deployment parachutes, automatic deployment parachutes, and manual deployment parachutes, with payload capacities categorized as low capacity (less than 1 kg), medium capacity (1 to 5 kg), and high capacity (more than 5 kg). These systems are used in various applications, including aerial photography and videography, delivery and logistics, search and rescue operations, law enforcement and surveillance, as well as military and defense purposes.

The drone parachute system market research report is one of a series of new reports that provides drone parachute system market statistics, including drone parachute system industry global market size, regional shares, competitors with an drone parachute system market share, detailed drone parachute system market segments, market trends and opportunities, and any further data you may need to thrive in the drone parachute system industry. This drone parachute system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The drone parachute system market consists of revenues earned by entities by providing services such as installation, testing, maintenance, and technological support. The market value includes the value of related goods sold by the service provider or included within the service offering. The drone parachute system market also includes sales of integrated parachute systems, add-on parachute systems, compact parachute systems, retractable parachute systems, and smart parachute systems. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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