From 2022 to 2029, the worldwide paragliding equipment market is expected to reach USD 7.8 billion, increasing at a CAGR of 3.4 percent
It’s being expected that by 2030, the Paragliders market cap will hit USD 7.8 billion at a CAGR growth of about 3.4%.
Covid-19 Impact & Market Status
Covid-19 pandemic has wrecked some of the most irreversible implications across industries and businesses globally are working towards improving their work structures throughout the forecast years to reverberate growth. Our continuing study aims to improve our research methods so that the key COVID-19 issues and potential solutions may be addressed. The changing dynamics of the industry are influencing consumer behavior demand patterns and production-supply cycles. Also, government initiatives are also ripe to introduce novel technological solutions to support paragliders growth market. This revised report considers COVID-19's market impact and includes insights, analysis, estimates, and projections
Analysis on the basis of Type
Inflatable air foils that create lift are known as paragliders. They are made composed of a surface or wing that is supported by the air around it, generally by inflating it with a constant-pressure gas like helium or hot air. In this manner, it's comparable to aeroplane wings, but unlike aeroplane wings, paraglider surfaces have no solid structure and rely only on their material qualities for support - they only keep their form when the pressure of air against them exceeds their elastic limit (the maximum stress that can be applied without causing permanent damage).
Harnesses and Reserve Parachutes:
Harnesses and reserve parachutes are pieces of equipment that allow the pilot to fly safely. In paragliding activities, this equipment is essential. They ensure pilots' safety and security when competing or participating in leisure activities. Harnesses are currently one of the most popular product kinds, thanks to their extensive variety of features that make them ideal for all types of flights, whether during work hours or after hours.
Pilots must use paragliding protection gear to avoid major injury if they fall. The harnesses and reserve parachutes, which are used to secure a beginner's paraglider during flight, are considered the most important aspect of their kit. Helmets and gloves, for example, provide protection for a pilot's head and hands, respectively.
Analysis on the basis of Application
Supermarkets & Hypermarkets:
Paragliding Equipment is utilised in supermarkets and hypermarkets to create a better experience and maximise the equipment's functionality. They also come with extra characteristics like improved comfort, durability, and lower noise levels, among others. This is driving rising demand for them in supermarkets and hypermarkets all around the world.
Sports Goods Speciality Stores:
Paragliding Equipment at Sports Goods Specialty Stores is used for shopping and purchasing paragliding equipment, such as kites, parachutes, and other related items. Paragliding Equipment in Sports Products Specialty Stores is used by individuals of all ages to purchase sporting goods quickly and efficiently. They're utilised to take a closer look at the equipment.
Online stores are increasingly offering paragliding equipment. Major industry companies are heavily utilising paragliding equipment to expand their market share and acquire more clients through online marketing tactics. The need for high-quality photos, videos, and product descriptions is growing by the day, allowing shoppers to better comprehend each product detail than ever before.
Analysis on the basis of Region
The worldwide paragliding equipment market may be divided into Europe, North America, Asia Pacific, South America, and the Middle East and Africa based on region. Because of the huge number of professional paragliders in these areas, the paragliding equipment market in Europe and the Middle East & Africa is expected to rise significantly over the projected period. In terms of revenue, Europe and the Middle East and Africa are expected to be key contributors to the worldwide paragliding equipment market.
The market is largely driven by the growing popularity of paragliding as a recreational sport and leisure activity among various age groups in North America, Europe, Latin America, and Asia-Pacific, particularly millennials and baby boomers.
Paragliding is a recreational adventure sport in which people fly paragliders. Paragliding equipment is extremely light, and the aircraft is a free-flying glider with no fixed main construction. Paraglider wings and a harness are part of the paragliding gear. Ram-air airfoils are another name for paraglider wings. These wings are made up of two layers of fabric that are attached to internal supporting material to form a row of cells. The harness allows paragliders to be comfortably buckled and supported in both standing and sitting positions. When flying, professional paragliders always have GPS devices, variometers, and radios with them.
The surge in popularity of risky sports, people's disposable money, and expansion in global adventure tourism are all driving factors in the paragliding equipment industry. The demand for paragliding equipment is projected to increase in the near future due to rapid technology advancements that result in novel equipment with greater characteristics. For manufacturers and distributors in the business, the evolution of e-commerce has offered profitable prospects. Producers and distributors of paragliding equipment sell their products through several e-commerce websites in order to appeal to a diverse variety of clients throughout the world. In the coming years, the promotion of paragliding equipment through various internet channels is expected to result in a strong demand for the product. During the forecast period, however, the paragliding equipment market is expected to be hampered by high infrastructure costs and an influx of used paragliding equipment.
Product, distribution channel, end-user, and geography may all be used to segment the worldwide paragliding equipment market. The market may be divided into paragliders, harnesses and reserve parachutes, and protection equipment in terms of product. In the foreseeable future, the paragliders category is projected to dominate the paragliding equipment market. During the projection period, the category is expected to develop due to an increase in the number of individuals who participate in paragliding and the popularity of adventure sports. In addition, an expansion in the number of training schools offering paragliding courses is expected to propel the industry forward in the coming years.
Latest Innovations in the Paragliders Market: A Snapshot
Automatic Balance System:
At high speeds, its remarkable roll stability provides the pilot with the best and most efficient flying route! The ABS system comes into play on cross-country flights or while chasing down a companion. With no pilot input, the ABS system will transport you from point A to point B as quickly as feasible. The mechanism is not active at trim speed, allowing for dynamic flying tailored for excitement and agility.
Paragliders Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 7.8 billion|
|Growth Rate||CAGR of 3.4% during 2021-2028|
|Segment Covered||Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||The top companies that hold the market share in Paragliders market are ADVANCE, APCO Aviation, COMPASS, Dudek Paragliders, Flyneo, ICARO Paragliders.|
Key Segments of the Paragliders Market
Type Overview, 2019-2029 (USD Million)
- Protective Gears
Application Overview, 2019-2029 (USD Million)
- Supermarkets & Hypermarkets
- Sports Goods Speciality Stores
- Online Retailers
Regional Overview, 2019-2029 (USD Million)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa