Hot Air Ballooning Equipment Market - Overview
Hot air ballooning is the action of flying hot air balloons. Hot air ballooning offers a quiet environment, slow movement, and a top view from the sky. Passengers in the hot air balloon feel almost no wind as the balloon moves in the direction of the wind. However, when the balloon climbs or comes down in the atmosphere and moves in a different direction or speed than air, passengers might feel the speed of the wind. Hot air ballooning is known by Fédération Aéronautique Internationale (FAI) as a harmless air sport in aviation. The death rate in hot air balloon accidents is less as compared to other air sports, according to statistics presented by the National Transportation Safety Board (NTSB). Hot air balloon design and manufacturing includes three parts: the bottom end, the ground equipment, and the top end. The bottom end includes the basket, fuel cylinders, burners, important safety equipment, and instruments. The ground equipment includes items that are required to get the balloon into the air and that stay on the ground later on. These include petrol fan, trailer, tether ropes, and retrieve vehicles. The top end comprises the balloon itself. The balloons are designed and manufactured in a standard format, using specific material known as rip stop nylon, which is cut and shaped into gores and later stitched into a load tape.
Hot Air Ballooning Equipment Market - Drivers and Restraints
Demand for hot air ballooning equipment is estimate to rise due to an increase in participation in ballooning events across developing countries. Furthermore, the industry is being driven by a rise in the use of hot air balloons by companies for brand promotions. Display of brand logos on hot air balloons is useful in attracting consumers more easily and is also cost effective. Hot air ballooning also benefits the tourism industry as it offers a unique experience to tourists. Technological advancements such as GPS and track identification provide an added advantage for the users of hot air baloons. However, the hot air balloon manufacturing industry is facing certain challenges such as increased number of hot air balloon accidents. High manufacturing costs have also been seen as a major concern for hot air balloon manufacturers globally. These factors are estimated to restrain the market in the coming years.
Hot Air Ballooning Equipment Market - Segmentation
The hot air ballooning equipment market can be segmented based on component, application, and region. In terms of component, the hot air ballooning equipment market can be classified into envelopes, baskets, burners, inflation fans, fuel cylinders, special heat shields, accessories and spares, and other instruments. Based on application, the hot air ballooning equipment market can be segmented into passenger ride, advertising, and sports. In terms of region, the hot air ballooning equipment market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Furthermore, North America can be categorized into the U.S., Canada, and the Rest of North America. Europe can be sub-segmented into the U.K., Germany, France, Italy, and the Rest of Europe. Asia Pacific can be segmented into China, Japan, India, and the Rest of Asia Pacific. South America can be divided into Brazil, and the Rest of South America. The hot air ballooning equipment market in emerging economies such as China and India is expected to expand at a significant pace during the forecast period.
Hot Air Ballooning Equipment Market - Key Players
Key players in the hot air ballooning equipment market include Cameron Balloons, Aerosaurus Balloons Ltd, Firefly Balloons, Lindstrand Technologies Limited, Kubicek Balloons, and Ultramagic Balloons. The key players in the hot air ballooning equipment market focus on innovation in the technology and design of hot air balloons in order to remain in the competition. Partnerships and acquisitions are significant developmental strategies of manufactures to meet customer requirements and increase customer base. Furthermore, the manufacturers in the hot air ballooning equipment market focus on safety features of the equipment used as it is directly associated with customer safety.
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