A new Drone Parachute Report published by Drone Industry Insights finds the drone parachute market will generate USD5.4 million in 2021 and grow at a CAGR of 63% to almost USD62 million by 2026.
Parachutes specifically made for drones are designed to avoid damage to people or objects on the ground and to protect the drone from being destroyed. In this context they are the ”last line of defense” and that makes them crucial, says Drone Industry Insights.
The 66-page document reports on global drone parachute companies, market size and 5-year growth forecast. It also provides insight on the regulation of drone parachutes and standards; compared drone parachute solutions by drone weight class; and details company profiles for the 11 leading drone parachute manufacturers.
The report says a lot of drone applications will require a parachute system once regulations are in place. Given the growth in the drone market (CAGR of 9.4%), this will automatically lead to higher demand for drone parachute systems in the next years. Another factor that will contribute to the growth of drone parachutes is the increasing relevance of BVLOS operations and flights over people.
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