Air Sports Equipment Market Size is Expected to Observe 6.7% CAGR till 2025

The global Air Sports Equipment Market size is expected to reach USD 23.4 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.7% over the forecast period. Increasing participation in the extreme sports by college graduates and working professionals is expected to be a key factor driving the market over the forecast period. Moreover, supportive policies by the governments of developed countries including U.S. and U.K. on promoting spending on outdoor recreational activities are expected to expand the scope for various equipment over the next few years.

Over the past few years, popularity of the extreme sports has grown significantly owing to increasing adoption among millennials, college grads, working professionals, and older adults in order to experience thrill in the outdoor activity. Moreover, social media, movies, and cinemas have played an important role in promoting these extreme sports across the globe. Participation of customers of different age groups in various outdoor recreational activities has increased significantly in the past few years.

According to the statistics provided by the United States Parachute Association (USPA), out of the total jumpers, 11.2% of them were retired by occupation. This implies older adults have been increasingly participating in the extreme sports. This significant increase in the participation among old adults is expected to drive the demand for air sports equipment in the foreseeable future.

Europe was the largest market, accounting for a share of more than 35.0% in 2018 owing to presence of favorable geographical conditions such as hills and mountains in the region. The market is expected to witness significant growth in the coming years owing to growing adventurous sports tourism. European countries including U.K., France, Italy, Switzerland, Spain, and Hungary are some of the prominent countries with the highest penetration of the air sports including ziplining, parachuting, paragliding, wingsuit flying, and canopy piloting.

Major manufacturers are Velocity Sports Equipment; Aerodyne Research, LLC; OZONE POWER LTD; SUP’AIR; Peregrine Manufacturing, Inc.; Sunrise Manufacturing International Inc.; Sun Path Products, Inc.; Mirage Systems, Inc.; Firebird USA LLC; and Flyneo.com. New product developments in terms of high-end protective apparel for addressing human biomechanics are expected to remain favorable for the air sports equipment industry growth.

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Further key findings from the report suggest:

• By application, parachuting held the largest share of above 40.0% in 2018 due to increasing enthusiasm among millennials, college grads, and working professionals, coupled with availability of safer equipment and ease of access to the sport
• Container/Harness was the largest product segment with a share of more than 60.0% in 2018 as it is used in pursuing various air sports activities including ziplining, parachuting, paragliding, wingsuit flying, and canopy piloting
• Europe was the largest regional air sports equipment market, accounting for a share of more than 35.0% in 2018
• Asia Pacific is expected to expand at a CAGR of 7.5% from 2019 to 2025
• Key players include Velocity Sports Equipment; Aerodyne Research, LLC; OZONE POWER LTD; SUP’AIR; Peregrine Manufacturing, Inc.; Sunrise Manufacturing International Inc.; Sun Path Products, Inc.; Firebird USA LLC; and Flyneo.com.

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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

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