Air Sports Equipment Market Market Size Forecast To 2030

(MENAFN- Straits Research) Introduction

It is anticipated that one of the most important factors during the course of the projection period will be the rising popularity of adventure sports among millennials. An increase in the number of people participating in outdoor recreational activities all over the world is driving up the demand for the numerous pieces of air sports equipment that are required for activities such as parachuting, paragliding, wingsuit flying, and ziplining.

Because of a shift in attitude among millennials, college graduates, working professionals, and even some middle-aged and senior citizens, the number of people participating in extreme sports has increased dramatically over the past few years. This shift is largely responsible for the explosion in the popularity of these types of sports. In addition, platforms such as social media, films, and movie theatres have all played significant roles in the promotion of these extreme sports around the world. In the most recent few years, there has been a notable rise in the number of clients belonging to a variety of age groups who take part in various types of outdoor recreational activities.

Market Dynamics One of the main factors fueling the expansion of the air sports equipment market is the rising popularity of competitive air sports

As time has progressed, aerial sports have not only become increasingly popular as competitive sports but also as recreational hobbies that offer a sense of excitement and adrenaline. As a form of enjoyment, extreme adventure sports such as paragliding, skydiving, and other similar activities are becoming increasingly popular. Extreme adventure sports, which demand a significant amount of physical labour, have been linked to several mental and physical advantages that accrue over the long term. Consumers have also started favouring more leisure activities that take place outside, such as adventure sports, in order to unwind and recharge their batteries.

Another factor boosting the expansion of the market for air sports equipment is the rise in technical advancements to improve product performance

The development of new technologies is dependent on several elements, including, but not limited to, mechanical design, system engineering, and fabric design. The automatic activation device (AAD), which is an electronic-pyrotechnic or mechanical device used to open the reserve parachute automatically in situations where jumpers are unable to execute the on-time deployment, is one example of one of the most significant advancements in the field of air sports equipment. Digital and audible altimeters are two examples of cutting-edge technology that are used in aerial sports.

Regional Overview

Because of the existence of a significant number of hills and mountains throughout Europe, Europe was the most lucrative market for air sports equipment in 2018. The area accounted for more than 35.0 percent of the global market in 2018. Switzerland, Spain, the United Kingdom, France, Italy, and Hungary are some of the leading countries in Europe with the highest penetration of the air sports market, which drives the demand for equipment.

The fact that Europe will be playing host to several sporting events will act as a driver of market expansion throughout the estimated time period. For example, the "Carpathian Cup" was held in Ukraine in July 2019, while the "Russian Open" was held in Aksaray, Hasan Dagi, Turkey in August 2019. Both events took place in 2019.

Key Highlights

• The global market for air sports equipment was valued at USD 15.11 billion in 2018 and is expected to reach USD 85.27 billion in 2030 expanding at a CAGR 6.27%.
• One of the main factors fuelling the expansion of the air sports equipment market is the rising popularity of competitive air sports.
• Another factor boosting the expansion of the market for air sports equipment is the rise in technical advancements to improve product performance.
• Container/Harness was the most important product segment in 2018, accounting for more than 60 percent of the market share, and it is anticipated that it will continue to hold this position during the projected period.
• In 2018, the parachuting application was the largest market sector, accounting for more than 40 percent of total sales.
• Paragliding is predicted to be the category with the highest Compound Annual Growth Rate (CAGR) between 2019 and 2025 with 7.2 percent.
• Due to the existence of a significant number of hills and mountains throughout Europe, Europe was the most lucrative market for air sports equipment in 2018.

Competitive Players

Adrenalin Base

Adrenalin Dreams Inc.

Aerodyne Research LLC

Apco Aviation Ltd.

com

GLH Systems Pty Ltd.

OZONE GLIDERS LTD.

Phoenix Fly

SUPAIR SAS

Velocity Sports Equipment

Recent Developments

• Under the moniker "Skipper 2," SUP'AIR introduced an improved harness in October 2018. The apparatus is built to provide excellent passive safety, comfort, and steering accuracy.
• Cirque Aerial Bungees from Adrenalin Dreams Inc. have a proprietary built-in 4,000 lb (1,814 kg) static safety line that can hold the rider independently of the bungee and stops the elongation at a precise point regardless of overloading, preventing damage from overstretching or bungee failure.

Segmentation

By Product

• Container/Harness
• Protective Gears

By Application

• Parachuting
• Paragliding
• Hang Gliding

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East

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