LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global paragliding equipment market is expected to reach USD 537.12 million by 2021, growing at a CAGR of more than 4%.
This research report titled ‘Global Paragliding Equipment Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
The global paragliding equipment market largely derives its growth from the tourism industry. Increasing urbanization, changing demographics, evolving lifestyle, increased awareness of new products, growth in outdoor vacation trips, and rise in dual household incomes have helped the market grow. The improved distribution channels and marketing initiatives through digital channels and rise in the interest and participation of consumers in outdoor activities are factors that play a crucial role in the increased demand for adventure sports equipment including paragliding equipment.
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Technavio’s consumer and retail research analysts categorize the global paragliding equipment market into the following segments by product. They are:
- Harness and reserve parachutes
- Protective gear
The top three product segments for the global paragliding equipment market are discussed below:
Paragliders, which are also known as wings, is one of the important product segments of paragliding equipment. Consumers demand lightweight paragliders for the ease of handling these instruments. Key manufacturers use raw materials that make the wing lightweight. Modern paragliders or wings are mostly made of non-absorbent materials like ripstop polyester or nylon fabric.
According to Brijesh Kumar Choubey, a lead retail goods and services research analyst from Technavio, “The pilot is supported by harnesses placed underneath the paraglider through suspension lines. Its speed ranges from 20 to 75 kilometers. Paragliders have high replacement rate when compared with other products. Hence, its market share is expected to post the highest CAGR in the product segment in the coming years.”
Harness and reserve parachutes
Harnesses are used to secure the body of the flier while flying. In paragliding, they are buckled to the paraglider and the pilot. The fitting of the harnesses varies from person to person. Therefore, it is very important to select the right harness in harmony with the paraglider and the pilot.
“Reserve parachutes are connected to the harnesses as a precaution to be used during failed launches and landings. They are designed in ways that make them easy to operate. This easy operability of the equipment ensures that the harnesses open fast as most deployments take place at low altitude levels. This equipment can last up to ten years with proper care,” says Brijesh.
Protective gears are one of the most important product segments among all sports, especially adventure sports. Adventure sports, in the recent years, have put emphasis on the precaution measures that help to protect fliers from injuries in case of accidents. The increasing use of these gears is adding revenue to the market.
Increasing awareness of injuries, especially neurological and bone injuries are the key reasons driving the global protective gears market. Helmets are the most used protective gears because they protect the user from head injuries. In adventure sports activities, especially for paragliding, helmets should be lightweight, strong, and certified by EN966, which is one of the safety standards followed to maintain helmet quality. Modern helmets are made up of expanded polystyrene (EPS).
The top vendors highlighted by Technavio’s research analysts in this report are:
- OZONE GLIDERS
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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