The global air sports equipment market size was valued at USD 18.13 billion in 2021 and is expected to reach USD 31.34 billion in 2030 expanding at a CAGR 6.27%. It is anticipated that one of the most important factors during the course of the projection period would be the rising popularity of adventure sports among millennials. An increase in the people participating in outdoor recreational activities all over the world is driving up the demand for the numerous pieces of air sports equipment that are required for activities such as parachuting, paragliding, wingsuit flying, and ziplining.
Because of a shift in attitude among millennials, college graduates, working professionals, and even some middle-aged and senior citizens, the number of people participating in extreme sports has increased dramatically over the past few years. This shift is largely responsible for the explosion in the popularity of these types of sports. In addition, platforms such as social media, films, and movie theatres have all played significant roles in the promotion of these extreme sports around the world. In the most recent few years, there has been a notable rise in the number of clients belonging to a variety of age groups who take part in various types of outdoor recreational activities.
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Rising popularity of competitive air sports
As time has progressed, aerial sports have not only become increasingly popular as competitive sports but also as recreational hobbies that offer a sense of excitement and adrenaline. As a form of enjoyment, extreme adventure sports such as paragliding, skydiving, and other similar activities are becoming increasingly popular. Extreme adventure sports, which demand a significant amount of physical labour, have been linked to several mental and physical advantages that accrue over the long term. Consumers have also started favouring more leisure activities that take place outside, such as adventure sports, in order to unwind and recharge their batteries. There has been an increase in customers who are becoming increasingly health aware, which is likely to hasten the acceleration of the demand for alternative physical activities such as adventure activities.
The rise in technical advancements to improve product performance
The development of new technologies is dependent on a number of elements, including, but not limited to, mechanical design, system engineering, and fabric design. The automatic activation device (AAD), which is an electronic-pyrotechnic or mechanical device used to open the reserve parachute automatically in situations where jumpers are unable to execute the on-time deployment, is one example of one of the most significant advancements in the field of air sports equipment. Digital and audible altimeters are two examples of cutting-edge technology that are utilised in aerial sports. The digital function provides pilots with a precise reading, while the audible altimeters produce a noise when they reach particular heights. The auditory altimeter is designed to be worn inside of a helmet and alerts pilots to important phases of their ascent, such as the break-off point and the deployment height. During the time that is being forecasted, market growth is anticipated to be driven by advancements of this kind.
The air sports equipment market's expansion is being hampered by the danger of serious accidents and fatalities from falls that are related to air sports
People may be dissuaded from taking part in adrenaline-pumping activities like air sports since they fear they may get overly exhausted. The depletion of muscle fuels, the build-up of metabolic by-products, low blood glucose, muscular cramps, microtraumas, and central tiredness are some of the causes of exhaustion. Erroneous landing procedures and incorrect use of equipment as a result of insufficient knowledge or training of the use of equipment were determined to be the primary causes of the majority of accidents that occurred while participating in air sports, as shown by historical data. As a result, irresponsible factors like these can impede the expansion of the market over the course of the projected year.
The global air sports equipment market is segmented by product, application, and region.
Container/Harness was the most important product segment in 2018, accounting for more than 60% of the market share, and it is anticipated that it will continue to hold this position during the projected period. The harness is the most significant piece of equipment used in any air sport, including ziplining, parachuting, paragliding, wingsuit flying, and canopy piloting. Other air sports include wingsuit flying and canopy piloting. Skydivers have been reporting accidents to one another over the course of the previous few years owing to faulty equipment and inappropriate landing procedures. According to the statistics provided by the United States Parachute Association (USPA), the total number of injuries that were reported by USPA members in the United States in 2018 was 2,147. In order to make air sports less dangerous, both the national government and skydiving schools are concentrating on the development of the most effective training modules and the most technologically sophisticated equipment.
From 2019 to 2025, it is anticipated that the market for protective gear will rise at a compound annual growth rate (CAGR) of 7.0%. Participants in the sector of air sports equipment are developing more sophisticated and high-end sporting equipment by including characteristics that are associated with human biomechanics. For example, in August of 2018, LA POINTIQUE INT'L LTD. displayed high-end sports gear goods such as AIR SERIES Compression Gear, ACE SERIES Compression Gear, and XT SERIES high-end protective clothing. These products were part of the company's XT SERIES line.
In 2018, the parachuting application was the largest market sector, accounting for more than 40% of total sales. This air sport has seen significant growth in popularity over the past several decades as a result of the availability of safer equipment and the increased accessibility of the activity among adults. In 2010, the United States Parachute Association (USPA) projected that there were 3 million jumps annually in the United States alone. That number climbed to 3.3 million in 2018, according to the numbers that were supplied by the USPA. In addition, the USPA found that 11.18% of the total skydivers were retired from their respective careers. This information was gleaned from the participants. It is anticipated that the large rise in participation will, throughout the course of the foreseeable future, broaden the scope of parachuting, consequently boosting demand for sporting equipment.
Paragliding is predicted to be the category with the highest Compound Annual Growth Rate (CAGR) between 2019 and 2025 with 7.2%. The simplicity of paragliding's operation, along with the fact that it can be enjoyed in both the winter and the summer, has contributed to the sport's rising profile. When compared to other air sports such as hang gliding and wingsuit flying, the fact that paragliding activities have significant advantages such as easy launching and easy landing will have a beneficial influence on the expansion of the business.
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Due to the existence of a significant number of hills and mountains throughout Europe, Europe was the most lucrative air sports equipment market share in 2018. The area accounted for more than 35.0% of the global market in 2018. Switzerland, Spain, the United Kingdom, France, Italy, and Hungary are some of the leading countries in Europe with the highest penetration of the air sports market, which drives the demand for equipment. Other prominent countries in Europe with high market penetration include France, Italy, and Spain. Over the course of the projected period, it is predicted that these nations will continue to maintain their market dominance while also seeing substantial growth.
The fact that Europe will be playing home to a number of sporting events will act as a driver of market expansion throughout the estimated time period. For example, the "Carpathian Cup" was held in Ukraine in July 2019, while the "Russian Open" was held in Aksaray, Hasan Dagi, Turkey in August 2019. Both of these events took place in 2019. These kinds of events are anticipated to play a significant part in maintaining the high awareness of air sports in the region, and as a result, they will motivate the employment of a variety of different pieces of equipment related to air sports.
List of key air sports equipment market manufacturers profiled