Global Air Sports Equipment Market 2019-2023| Increase in Technological Innovations to Enhance Product Performance to Boost Growth| Technavio

LONDON–(BUSINESS WIRE)–lt;a href="" target="_blank"gt;#Researchlt;/agt;–The global air sports equipment market is expected to post a CAGR close
to 7% during the period 2019-2023, according to the latest market
research report by Technavio.

The surging popularity of extreme adventure sports has encouraged a
growing number of people to participate in them. Over the past decade,
extreme adventure sports such as paragliding, skydiving, bungee jumping,
BASE jumping, surfing, rock or mountain climbing, caving, scuba diving,
snorkeling, surfing, jet skiing, and wakeboarding have become popular as
recreational activities. Several long-term mental and physical benefits
are associated with extreme adventure sports that require excessive
physical exertion. Also, factors such as a change in demographics and
lifestyles along with a considerable increase in recreational
expenditures have helped in increasing the popularity of such sports
activities. Therefore, such factors are expected to drive the growth of
the global air sports equipment market during the forecast period.

As per Technavio, the increase in technological innovations to enhance
product performance will have a positive impact on the market and
contribute to its growth significantly over the forecast period. This global
air sports equipment market 2019-2023
research report
also analyzes other important trends and market drivers that will affect
market growth over 2019-2023.

This report is available at a USD 1,000 discount for a limited time
market snapshot before purchasing

Global air sports equipment market: Increase in
technological innovations to enhance product performance

Technological innovations in the product portfolio are one of the major
factors that attract customers and increase sales. Therefore, the key
competitors are continuously innovating their air sports equipment to
make trips safe, secure, and comfortable. The technological innovations
are based on several factors such as fabric design, system engineering,
mechanical design, control systems, and rigging and packing. For
example, the latest innovation in air sports equipment is the automatic
activation device (AAD), which is an electronic-pyrotechnic or
mechanical device used to open the reserve parachute automatically in
cases where jumpers are unable to execute the on-time deployment.
Another innovative equipment used in air sports are the digital and
audible altimeters. The digital function gives flyers an accurate
reading while the audible altimeters make noise at certain altitudes.
The audible altimeter fit inside a helmet and remind flyers of their
altitude at key stages like break off point and deployment altitude.
Thus, with such innovations, the market is expected to showcase a
positive outlook during the forecast period.

“Along with the increase in technological innovations to enhance
product innovation, the rising number of training programs and courses
for different air sports is one other aspect boosting the growth of the
global market. These training schools have highly qualified and
experienced instructors and pilots to train people and also offer air
sports equipment at discounted rates, which further adds to the
popularity and growth of these sports. They also increase in air sports
training programs to boost people’s awareness, and churn out more air
sports experts,”
says a senior analyst at Technavio.

Global air sports equipment market:
Segmentation analysis

This market research report segments the global air sports equipment
market by type (sky diving, paragliding, BASE jumping, bungee jumping)
and geographical regions (Europe, APAC, North America, South America,
and MEA).

The European region led the market in 2018, followed by APAC, North
America, South America, and MEA respectively. However, during the
forecast period, the APAC region is expected to register the highest
incremental growth due to the considerable increase in inbound tourism.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

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