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.
Request
a sample copy or view summary of this report @ https://www.grandviewresearch.com/industry-analysis/air-sports-equipment-market
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.
About Us:
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.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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