LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global BASE jumping equipment market to grow at a CAGR of almost 5% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global BASE jumping equipment market for 2017-2021. To calculate the market size, Technavio analysts have considered the revenue generated through the retail sales of different types of BASE jumping equipment.
The global BASE jumping equipment market is growing at a significant rate due to rise in domestic and international tourism, growing urbanization, a shift in consumer lifestyle, more awareness of specific equipment, technological advances, and rise in average income levels. The key competitors design products that cater to the specific requirements and needs of different consumer segments.
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Technavio analysts highlight the following three factors that are contributing to the growth of the global BASE jumping equipment market:
- Popularity of BASE jumping as a competitive sport
- BASE jumping in action movies: Attraction for adventure sports enthusiasts
- Mental and physical health benefits associated with BASE jumping
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Popularity of BASE jumping as a competitive sport
BASE jumping is not only a recreational adventure activity but also a competitive sport. It is held regularly at local, regional, and national level throughout the world. BASE Jump Extreme World Championships, BASE Jumping World Championship, ProBASE World Cup Tour, and World BASE Cup are some of the major annual tournaments.
Narendra Nandaigari, a lead outdoor gear research analyst at Technavio, says, “BASE jumping competitions have been organized since the 1980s in which participants get judged on the basis of their freefall aerobatics and landing accuracy at a designated point. In recent years, some of the competitions were held at Petronas Twin Towers, Kuala Lumpur, Malaysia. BASE jumpers undergo training and coaching lessons to enhance their skills.”
BASE jumping in action movies: Attraction for adventure sports enthusiasts
The popularity of BASE jumping has increased among the wider public due to several factors, one of them being the depiction of BASE jumping in many action movies. Such activities in movies attract a major segment of the audience. People tend to get influenced by watching such activities being performed by their favorite stars.
For instance, XXX in 2002, Lara Croft Tomb Raider: The Cradle of Life in 2003, and Sunshine Superman in 2014 are some of the movies that depicted BASE jumping. Several Bond movies have also featured BASE jumping activities, including A View to a Kill in 1985, The Living Daylights in 1987, and Die Another Day in 2002.
Shift in consumer preference toward extreme sports activities
“At present, adventure or extreme tourism is recognized as an important and fast-growing tourism segment. People are traveling to new and adventurous tourist destinations to de-stress and rejuvenate themselves from their fast-paced and busy lifestyle. Some of the activities people take part in during such vacations include BASE jumping, paragliding, skydiving, bungee jumping, surfing, rock or mountain climbing, and caving,” says Narendra.
Several promotional campaigns are organized by the governments and tour operators of many countries to boost consumer awareness of adventure activities. In 2016, approximately 60% of the US population in the age group of 25 to 44 years preferred extreme sports activities. The popularity of adventure activities in the Americas, APAC, and Europe are driving the sales of BASE jumping equipment in the market.
Top vendors:
- Apex BASE
- Squirrel
- GLH Systems
- Skylark
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