Wing suit flying is a new extreme adventure sport which is gaining immense popularity. Wing suit flying is a discipline of skydiving. Wing suits are used in wing suit flying which helps in gliding through the air. Wing suits are designed in such a way that it adds more surface to the human body and helps in increasing the lift. A parachute is deployed during the descent for safe landing, as a wing suit alone cannot help in landing.
Wing suits are available in different shapes, sizes, colors, and designs and are also customized. The market for wing suits is expected to increase during the forecast period with the increase in competitive wing suit flying.
Key Drivers, Restraints, and Opportunities of the Global Wing Suits Market
Human flight is now possible because of wing suits. Increasing popularity of wing suit flying has led to many new disciplines in skydiving. These include acrobatic, group flying, and wing formations which command the attention of millions and has resulted in various wing suit flying competitions.
Various wing suit flying competitions are held by organizations such as United States Parachute Association, and The World Air Sports Federation, to promote the sport and to educate the athletes.
Indoor wing suit flying is becoming popular in Europe and North America. Manufacturers provide training to inexperienced skydivers in indoor environments. Increasing number of training institutes around the world is likely to increase the demand for wing suits during the forecast period.
Wing suits flying is not entirely safe and a small error might result in fatal accidents. Many incidents have been reported in the past several years due to which people are skeptical about the sport. Manufacturers, athletes, and organizations are trying to make the sport as safe as possible.
Indoor wing suit flying if introduced on a large scale in developing nations will create more business growth opportunities. The improvement in wing suits with the help of technology is expected to lead to market growth during the forecast period.
Europe to Lead the Global Wing Suits Market
Geographically, the global wing suits market can be divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
Europe is expected to lead the global wing suit market during the forecast period due to increasing training facilities and surging interest of millennial. Europe is projected to be followed by North America and South America.
Asia Pacific and the Middle East are likely to experience slow growth during the forecast period as very few people from these regions indulge in extreme sports.
Key Manufacturers Operating in the Global Wing Suits Market
The global wing suits market is consolidated with the presence of few manufacturers. Manufacturers are trying to improve their product quality. The market is quality oriented and not brand oriented; hence, any player who provides better quality will be able to obtain a place in the global wing suits market.
Leading players operating in the global wing suits market include: