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
Global Air Sports Equipment Market: Research Scope
Global Air Sports Equipment Market, by Product Type
- Container and harness
- Protective gear
Global Air Sports Equipment Market, by Application
- BASE jumping
- Bungee jumping
Global Air Sports Equipment Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
The report on the global air sports equipment market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and regions
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.