HS Code:
Heading 8804 of the Harmonized System (HS) Code pertains to parachutes (including dirigible parachutes and paragliders) and rotochutes; parts thereof and accessories thereto. This category includes a range of products used for aerial descent and emergency evacuation, primarily in military, recreational, and emergency response applications. Products under this heading are critical for safety in aviation and adventure sports, with demand driven by defense budgets, aviation safety regulations, and growing interest in extreme sports.
Total Trade Volume
Approximately $1.2 billion USD
Data from 2022
Source
United Nations Comtrade Database and World Trade Organization (WTO) Statistics
$450 million USD
37.5% of total trade of total trade
Increasing
$200 million USD
16.7% of total trade of total trade
Stable
$150 million USD
12.5% of total trade of total trade
Increasing
$100 million USD
8.3% of total trade of total trade
Increasing
$80 million USD
6.7% of total trade of total trade
Stable
Average Rate
5.2% ad valorem
Highest Rate
12% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements such as EU-US agreements)
Increased demand for military-grade parachutes
Driven by rising global defense spending, particularly in regions with geopolitical tensions, leading to higher trade volumes in the US and Europe.
2021-2022
Growth in recreational paragliding equipment
Boosted by adventure tourism and extreme sports popularity, especially in Europe and North America, contributing to market diversification.
2020-2022
Technological advancements in parachute materials
Adoption of lightweight, durable fabrics and smart technology for better control and safety, increasing production costs but also market value.
2019-2022
The US Department of Defense awarded a $200 million contract to domestic manufacturers for advanced military parachutes, boosting production capacity.
March 2023
Strengthens the US position as the leading exporter and may increase global supply chain dependencies on US manufacturers.
The European Union introduced stricter safety certification requirements for parachutes used in commercial and recreational aviation.
January 2023
May increase production costs for exporters to the EU but ensures higher safety standards, potentially benefiting compliant manufacturers.
China has ramped up production of cost-effective parachutes for both domestic use and export, targeting markets in Asia and Africa.
October 2022
Introduces competitive pricing pressures in the global market, challenging established players like the US and France.