Philippines: Parachute Market 2025

Parachute Market Size in the Philippines

The Philippine parachute market reduced to $X in 2021, with a decrease of -7.7% against the previous year. Overall, consumption showed a pronounced setback. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Parachute Production in the Philippines

In value terms, parachute production skyrocketed to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a noticeable downturn. The pace of growth was the most pronounced in 2015 when the production volume increased by 38% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2021, production growth remained at a somewhat lower figure.

Parachute Exports

Exports from the Philippines

In 2021, shipments abroad of parachutes and rotochutes decreased by -38% to X kg for the first time since 2018, thus ending a two-year rising trend. Over the period under review, exports, however, continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2015 when exports increased by 433%. Over the period under review, the exports reached the maximum at X kg in 2020, and then plummeted in the following year.

In value terms, parachute exports reduced rapidly to $X in 2021. Overall, exports, however, saw notable growth. The pace of growth appeared the most rapid in 2015 when exports increased by 635% against the previous year. Over the period under review, the exports reached the maximum at $X in 2020, and then contracted rapidly in the following year.

Exports by Country

Austria (X kg), Portugal (X kg) and France (X kg) were the main destinations of parachute exports from the Philippines, with a combined 75% share of total exports. Moreover, parachute exports in Austria exceeded the figures recorded by the second-largest exporter, Portugal, twofold.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Portugal (with a CAGR of +260.6%), while the other leaders experienced mixed trend patterns.

In value terms, Austria ($X) emerged as the key foreign market for parachutes and rotochutes exports from the Philippines, comprising 48% of total exports. The second position in the ranking was taken by Portugal ($X), with a 19% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Austria amounted to +5.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (+176.0% per year) and France (-4.0% per year).

Export Prices by Country

The average parachute export price stood at $X per ton in 2021, which is down by -42.8% against the previous year. Over the period under review, the export price showed a abrupt curtailment. The pace of growth was the most pronounced in 2018 an increase of 96%. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was France ($X per ton), while the average price for exports to Portugal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+11.6%), while the prices for the other major destinations experienced mixed trend patterns.

Parachute Imports

Imports into the Philippines

Parachute imports into the Philippines declined significantly to X tons in 2021, waning by -82.8% against 2020 figures. Over the period under review, imports, however, showed strong growth. The growth pace was the most rapid in 2020 when imports increased by 11,622% against the previous year. As a result, imports reached the peak of X tons, and then plummeted in the following year.

In value terms, parachute imports declined remarkably to $X in 2021. Overall, imports, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2020 when imports increased by 14,401% against the previous year. As a result, imports attained the peak of $X, and then dropped significantly in the following year.

Imports by Country

In 2021, South Africa (X tons) constituted the largest supplier of parachute to the Philippines, accounting for a 68% share of total imports. Moreover, parachute imports from South Africa exceeded the figures recorded by the second-largest supplier, South Korea (X kg), more than tenfold. The third position in this ranking was held by Japan (X kg), with a 3.4% share.

From 2012 to 2021, the average annual growth rate of volume from South Africa totaled -87.7%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-11.5% per year) and Japan (+66.4% per year).

In value terms, South Africa ($X) constituted the largest supplier of parachutes and rotochutes to the Philippines, comprising 81% of total imports. The second position in the ranking was held by South Korea ($X), with a 6.2% share of total imports. It was followed by China, with a 2.3% share.

From 2012 to 2021, the average annual growth rate of value from South Africa stood at -79.6%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-0.5% per year) and China (+31.3% per year).

Import Prices by Country

The average parachute import price stood at $X per ton in 2021, picking up by 40% against the previous year. Over the period under review, the import price showed a resilient expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was South Korea ($X per ton), while the price for Australia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+65.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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