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Global Air Sports Equipment Market 2019-2023 | 7% CAGR Projection Over the Next Five Years | Technavio

December 3, 2019
Global Air Sports Equipment Market 2019-2023 | 7% CAGR Projection Over the Next Five Years | Technavio
Global Air Sports Equipment Market 2019-2023 | 7% CAGR Projection Over the Next Five Years | Technavio

LONDON--(BUSINESS WIRE)--Dec 3, 2019--

The air sports equipment market is expected to post a CAGR of close to 7% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report

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Technavio has announced its latest market research report titled global air sports equipment market 2019-2023. (Graphic: Business Wire)

The increasing popularity of extreme adventure activities will be one of the major factors behind the air sports equipment market growth. 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. 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.

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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 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

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. Vendors in the market are constantly improving their air sports equipment to make trips more safe, secure, and comfortable. Technological innovations are based on several factors such as fabric design, system engineering, mechanical design, control systems, and rigging and packing. For instance, automatic activation device (AAD) is one of the latest innovations which is being used to open the reserve parachute automatically in cases where jumpers are unable to execute the on-time deployment. Thus, with such innovations, the market is expected to showcase a positive outlook during the forecast period.

“Other factors such as the rising number of training programs and courses for different air sports and growing popularity of helicopter bungee jumping above active volcanoes will have a significant impact on the growth of the air sports equipment market value during the forecast period,” says a senior analyst at Technavio.

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Air Sports Equipment Market: Segmentation Analysis

This market research report segments the air sports equipment market by product (paraglider, canopy, and reserve parachute, container and harness, protective gear, and others), application (skydiving, paragliding, BASE jumping, and bungee jumping), and geography (APAC, Europe, MEA, North America, and South America).

The European region led the air sports equipment market in 2018, followed by APAC, North America, South America, and MEA respectively. The growth of the air sports equipment market share in Europe can be attributed to several factors such as the development of a large number of tourist destinations, and the presence of a well-established adventure tourism industry in the region.

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.Request a free sample report

Some of the key topics covered in the report include:

Market Landscape

Market Sizing

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191203005599/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

KEYWORD:

INDUSTRY KEYWORD: OTHER SPORTS EXTREME SPORTS SPORTS

SOURCE: Technavio Research

Copyright Business Wire 2019.

PUB: 12/03/2019 10:00 AM/DISC: 12/03/2019 10:01 AM

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