Global Hot Air Ballooning Equipment Market 2018-2022

Hot air ballooning equipment market dynamics

Technavio’s market study identifies the increasing participation in ballooning events across developing countries to be one of the primary growth factors for the hot air ballooning equipment market. The growing demand for adventure tourism activities and increasing participation in hot air balloon events in developing economies will boost the demand for hot air ballooning equipment market.

Adventurous activities such as skydiving, hot ball ballooning activities, surfing, rock or mountain climbing, caving, and other activities, are gaining prominence over regular beachside or sightseeing tourism. Developing economies like India, conducted a hot air balloon festival in Andhra Pradesh that was attended by enthusiasts from 13 nationals. Our market analysts estimate that the market will grow steadily at a CAGR of greater than 6% by 2022.  

Hot air ballooning equipment market growth drivers

The manufacturers in the hot air ballooning equipment are steadily adopting advanced technologies to modernize their equipment and performance. A key vendor developed a mobile application that can be integrated with many tools such as GPS and track identification. This track has many colors that aid the pilots to identify different wind layers and see their track in real-time. This technology also provides auto landing detection and a weather map with forecast and wind status for different levels of altitudes. The steady integration of technology in hot air balloons will drive the growth of the hot air ballooning equipment market.

Hot air ballooning equipment market development: Companies covered

The hot air ballooning equipment market is fragmented owing to the presence of numerous vendors. This market report studies the competitive environment of the balloon safety equipment market containing several key vendors adopting various strategies. Technavio’s analysts also analyze the key focus areas and the strategies adopted by vendors to sustain profitably in the hot air ballooning equipment market. 

This research report provides an analysis of the various companies in this market including:

• Cameron Balloons
• Firefly Balloons
• Kubicek Balloons
• Lindstrand Technologies
• Ultramagic

Hot air ballooning equipment market supply based on product

• Components

The components product segment will account for the major shares of the balloon safety equipment market throughout the forecast period. The growing demand for hot air balloons also influenced the demand for components such as envelopes, burners, and baskets.

Hot air ballooning equipment market segmentation by application

• Passenger ride
• Advertising
• Sports

Hot air balloons and equipment primarily find their applications in providing passenger rides. The growing demand for recreational activities such as hot air balloon rides will boost the growth of the balloon safety equipment market. The passenger ride application segment will account for major market shares throughout the forecast period.

Key questions answered in the report include

• What will the market size and the growth rate be in 2022?
• What are the key factors driving the global hot air ballooning equipment market?
• What are the key market trends impacting the growth of the global hot air ballooning equipment market?
• What are the challenges to market growth?
• Who are the key vendors in the global hot air ballooning equipment market?
• What are the market opportunities and threats faced by the vendors in the global hot air ballooning equipment market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global hot air ballooning equipment market?

 Technavio also offers customization on reports based on specific client requirement.