Air Sports Equipment Market: Introduction
- Air sports equipment are used during paragliding, parachuting, zip lining, wingsuiting, and other sports activities.
- Paragliding is the most popular air sport. Different types of equipment such as flight gear, skywalk, variometer, harness, and flymaster are required for this activity.
Key Drivers of the Global Air Sports Equipment Market
- Increasing number of participants for outdoor recreational activities is expected to drive the sales of air sports equipment. Increasing hectic lifestyle among millennial and generation X is driving them to opt for air sports.
- According to the ‘Outdoor Participation Report,’ around 48.8% of the U.S. population has participated in an outdoor activity in 2016. Millennial population are also adopting air sports activities to improve mental as well as physical health. Furthermore, parachuting is observed as a safer air sport which is boosting the demand for parachuting equipment. As per a report of “United States Parachute Association (USPA),” fatality rate was 0.0039 per 1,000 jumps in 2018. The low fatality ratio is popularizing this adventure sports activity which is expected to boost the market growth in the coming years.
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Growing Consumer Participation in Air Sports Events to Create Attractive Opportunities
- Government organizations of different countries are boosting the spending on skydiving to cater to the growing demand for air sports. In May 2016, Skydive Qatar increased its operational time to six days a week which was previously four days a week. Growing consumer interest toward air sports is expected to create new avenues for the air sports equipment market
Unsuitable Weather Conditions to Hamper the Market
- Climatic conditions are the most important factor for any air sports. Air sports equipment are inclined to malfunction during poor weather conditions, which may result in fatalities as it is challenging to manage such equipment in stormy weather. This factor is likely to hamper the air sports equipment market during the forecast years.
Europe to Hold a Major Share of the Global Air Sports Equipment Market
- Europe holds majority share in the air sports equipment market due to presence of many mountains and hills across the region. The region has a strong penetration rate of air sports which is likely to drive the air sports equipment market in the coming years.
- Several air sports games and activities are organized by prominent European countries such as Ukraine, Switzerland, U.K., Spain, Italy, France, and Hungary. This is expected to drive the growth of the air sports equipment market in Europe during the forecast period.
- Asia Pacific is expected to be the fastest growing market as a result of rising middle class population and increasing disposable income. Consumers are increasingly spending on adventure activities including air sports which is anticipated to boost demand in the near future.
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Key Players Operating in the Global Market
Globally, the market is moderately fragmented owing to the presence of few global and several domestic players. Major players are adopting various strategies such as partnerships and mergers to enhance their position in the market. A few of the key players operating in the global air sports equipment market are:
- Advanced Aerospace Designs
- Aerodyne Research, LLC
- Baskin Air Concept
- Bevs Suits
- BIRDMAN International Ltd
- Bonehead Composites
- Bungee Consultants International
- Skydive Safety
- Velocity Sports Equipment
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