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Air Sports Equipment Market Share, 2025 | Industry Analysis Report

Air Sports Equipment Market Analysis Report By Product, By Application, By Region And Segment Forecasts From 2019 To 2025

Report ID: MN17619911  |  Published: July 2020  |  No of Pages: 80
Format: Electronic (PDF)  |  Industry: Sporting Goods & Equipment  |  Publisher: Grand View Research

Industry Insights

The global air sports equipment market size was accounted for USD 14.9 billion, in 2018 and is anticipated to grow at a CAGR of 6.7 % over the forecasted period, from 2019 to 2025. The rising popularity of outdoor sports among people has majorly driven the growth of this market. In addition, an increasing number of participants in outdoor recreational activities are expected to further drive the growth of this market.

In recent years, the popularity of air sports is gaining traction due to the changing perception of people including working professionals, college grads, and old age groups towards participating in adventurous sports. These groups are participating in this activity to get the experience of thrill and joy. Moreover, the influence of cinemas and social media is playing a crucial role to promote these sports. This has led to the rise in demand for air sports equipment, thus fueling the market growth.

U.S. air sports equipment market

In 2017, the Outdoor Industry Association reported that nearly 48.8% of U.S. citizens participate in outdoor sports once a year. People are adopting this air sports activity to maintain mental and physical health. Moreover, parachuting has become safer with advanced equipment and offers better training techniques. In 2018, according to United States Parachute Association (USPA), out of 1,000 jumps, the fatality rate was 0.0039. This is expected to encourage more participants in air sports, which is expected to fuel demand for air sports equipment in the next few years. 

Government organization is heavily investing in the development of air sports to cater to the rising demand for air sport activity. In addition, Skydive Qatar expanded its operation for 6 days a week, as it was 4 days per week previously. The company has adopted this strategy due to the increasing popularity of air sports. These consumer trends are expected to spur the demand for air sport equipment in the next few years.

Product Insights

Among products, in 2018, container/harness accounted for the largest market share of over 60.0% and is expected to retain its position from, 2019 to 2025. Harness plays an important role in air sports such as paragliding, parachuting, wingsuit flying, canopy piloting, and ziplining.  In recent years, canopy piloting reported the highest number of injuries across the different types of air sports, owing to the failure of equipment and wrong landing techniques. In 2018, United States Parachute Association (USPA stated that owing to wrong landing technique and equipment failure, around 2,147 cases are reported in the U.S. alone. Thus, skydiving schools and national governments are majorly concentrating on the utilization of technologically advanced machines with better quality training modules to make air sport easier and safe.

 In the air sports equipment market, protective gear is projected to grow with the fastest CAGR of more than 7.0% over the forecast period. The industry players are introducing advanced protective gear with new features that are associated with human biomechanics. For example, in 2018, LA POINTIQUE INT'L LTD. introduced air sports gear products such as ACE SERIES Compression Gear, XT SERIES high-end protective wear.

Application Insights

Applicatio0n wise, the market is fragmented into parachuting paragliding, hang gliding, and others. In 2018, parachuting held the largest market share of over 40.0%. In recent years, this sport is gaining traction due to easy access coupled with the availability of safe equipment.

The statistics given by United States Parachute Association (USPA), around 3 million jumps were estimated in the U.S. alone, in 2010 and 3.3 million were raised, in 2018. Moreover, according to USPA, around 11.8% of jumpers are retired out of total jumpers.  This factor implies older people are widely participating in extreme sports; thereby significant rise in the participation of older adults will drive the market growth over the forecast period.

 Global air sports equipment market

On the other hand, paragliding application is projected to register the highest CAGR of more than 7.0% over the forecast period. This sport is gaining traction due to easy landing and launching as well as easy operation. Additionally, easy landing and launching are some key factors of this application than other air sports such as wingsuit flying and hang gliding, which is expected to drive the industry growth.

Regional Insights

In 2018, Europe held the largest share of over 35.0% in the market. The high revenue share is attributed to the presence of a huge number of mountains and hills. In this region, several countries including Spain, Switzerland, France, Hungary, and Italy have a potential market, thereby anticipated to drive market growth. These countries are projected to retain their dominance throughout the forecast period.

Moreover, Europe is engaged in hosting several air sports events, thereby expected to fuel the growth of the market. For example, in 2019, the ‘Russian Open’ and Carpathian Cup hosted was hosted by Ukraine. Thus, hosting such events is projected to play an important role to fuel regional market growth in the next few years.

COVID-19 Impact Analysis

The outbreak of the COVID-19 virus has negatively impacted the air sports equipment market. Government across the globe has restricted outdoor recreational activities to prevent Coronavirus infection. Therefore, demand for air sports equipment has declined during the pandemic.

However, Worlds Air Sports Federation has imposed technical and practical guidelines to return to normal operations in air sports during the COVID-19 outbreak. This initiative is expected to drive the demand for air sports equipment among youngsters, especially in North America and Europe.

Air Sports Equipment Market Share Insights

The market is competitive due to the presence of major players in North America and Europe. Moreover, some companies such as SUP’AIR, OZONE POWER LTD, Velocity Sports Equipment, and Velocity Sports Equipment, are offering technologically advanced equipment to ensure more safety due to stringent government regulations and to fulfill the rising demand for this equipment.

Major manufactures are implanting several market tactics expansion of R&D, product launches, alliances formation with distributors to expand their customer base. For example, in 2018, SUP’AIR introduced harness under the ‘Skypper 2’ brand name. This equipment is specially designed to provide comfort, steering precision, and passive safety

Report Scope

Attribute

Details

The base year for estimation

2018

Actual estimates/Historical data

2015 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Million & CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, Middle East & Africa

Country scope

U.S., U.K., Spain, France, Thailand, Malaysia, Indonesia, and UAE

Report coverage

Revenue forecast, company share, competitive landscape, and growth factors and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of the customization


Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels, and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For this study, Million Insights Inc. has segmented the global air sports equipment market report based on product, application, and region:

• Product Outlook (Revenue, USD Million, 2015 - 2025)
    • Container/Harness
    • Protective Gears
    • Others

• Application Outlook (Revenue, USD Million, 2015 - 2025)
    • Parachuting
    • Paragliding
    • Hang Gliding
    • Others

• Regional Outlook (Revenue, USD Million, 2015 - 2025)
    • North America
        • U.S.
    • Europe
        • U.K.
        • Spain
        • France
    • The Asia Pacific
        • Thailand
        • Malaysia
        • Indonesia
    • Central & South America
    • Middle East & Africa
        • UAE

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