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The skydiving equipment market size is estimated to grow at a CAGR of 5.3% between 2023 and 2028. The market size is forecast to increase by USD 347.76 million. The growth of the market depends on several factors such as the greater popularity and appeal of skydiving, the multiple health benefits of skydiving, and the growing number of health-conscious consumers.
This skydiving equipment market report extensively covers market segmentation by end-user (recreational users and professional users), distribution channel (offline and online), and geography (Europe, North America, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018-2022.
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Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Multiple health benefits of skydiving is the key factor driving market growth. Skydiving is one of the most intense adventurous sports and is associated with a large number of physical and mental health benefits. Skydiving builds upper arm strength while a skydiver controls the parachute and the big muscle groups in the lower body while landing. According to Psychologists, high-risk activities are essential for concentration and work as effective stress relievers.
Moreover, skydiving involves a lot of challenges and is one of the most daring sports to attempt. Adrenaline is a survival mechanism for the body, which is necessary for overall health. The adrenaline rush makes fliers feel excited and energetic. Thus, the multiple health benefits of skydiving are expected to fuel the growth of the global skydiving equipment market during the forecast period.
The increasing importance of online reviews is the primary trend shaping market growth. Nowadays, with easy access to the internet and smartphones, people tend to check online reviews before planning their vacations. This trend has helped the travel industry, making it more convenient to plan a vacation and have good experiences. With the growth of web portals and affordable Internet access, the demand for adventure travel has increased significantly.
Moreover, the easy availability of essential data encourages travelers to try new adventure sports and be more confident about their journey and destination. Online reviews provide direct access to not only destination images and videos, reviews, and weather reports but also maps and guides. Thus, the increasing importance of online reviews is expected to positively affect the growth of the global skydiving equipment market during the forecast period.
The expensive nature of skydiving activity is a challenge that affects market growth. Since skydiving is one of the most expensive air sports activities, many people tend to turn to other less expensive air sports activities such as paragliding and bungee jumping. Skydiving costs between USD 200 and USD 300 for one jump. Its training costs between USD 1500 and USD 2500.
Moreover, videos of their jumps cost around USD 460 to USD 100. Skydiving gear also costs around USD 5000 to USD 9000. Therefore, the high cost of new skydiving equipment acts as a challenge to the growth of the global skydiving equipment market during the forecast period
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Skydiving Equipment Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The recreational users segment is estimated to witness significant growth during the forecast period. Recreational users are people who periodically go on vacation to go on adventure trips. In 2023, the recreational user segment dominate the market share as more and more people enjoy adventurous activities more than others during their vacations.
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The recreational users segment was the largest segment and was valued at USD 810.76 million in 2018. Skydiving is one of the most popular and thrilling air sports, which is attracting a large number of new skydivers. Reaching out beyond their comfort zones and overcoming physical and mental barriers makes users more attractive to perform skydiving. Thus, the growing popularity among recreational users is expected to fuel the growth of skydiving equipment, thereby driving the global skydiving equipment market during the forecast period.
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Europe is estimated to contribute 46% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Italy, Spain, France, Germany, and the UK are key contributors to the European tourism market share, with billions of travelers in the region. Furthermore, with the increasing number of working women in the total labor force in Europe, the market is expected to grow at a significant rate.
Furthermore, the market in the region is anticipated to decline as adventure sports in the region have almost reached a mature stage. In addition, injuries and fatalities involved in adventure sports, such as skydiving, are other factors that might impact the growth of the regional market. However, the high number of adventure tourist visits in the region is expected to boost the growth of the regional skydiving equipment market significantly during the forecast period.
In 2020, the COVID-19 pandemic negatively affected the growth of the skydiving equipment market in the Europe region. However, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown and travel restrictions, which led to the resumption of supply chain activities. The rising inclination of people towards thrilling experiences is anticipated to drive the growth of the regional skydiving equipment market during the forecast period.
The skydiving equipment market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Skydiving Equipment Market Scope |
|
Report Coverage |
Details |
Page number |
153 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.3% |
Market Growth 2024-2028 |
USD 347.76 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.2 |
Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution |
Europe at 46% |
Key countries |
US, Australia, UK, Germany, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Adrenalin Base, Aerodyne Research LLC, Apco Aviation Ltd., APEX BASE, Atair d.o.o., BIRDMAN Ltd., Bonehead Composites, Dudek Paragliders s.j., DZ Sports Ltd., Eric Roussel NEO SAS, GLH Systems Pty Ltd., ICARO Paragliders, Intrudair Ltd., OZONE GLIDERS LTD., Phoenix Fly d.o.o., Skylark, Sun Path Products Inc., SUPAIR SAS, Uninsured United Parachute Technologies LLC, Velocity Sports Equipment, and WINGSTORE |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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