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Report
Hang Glider - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029
Market Report I 2024-02-17 I 90 Pages I Mordor Intelligence
The hang glider market was valued at USD 56.82 million in 2024 and is expected to reach USD 66.2 million by 2029, registering a CAGR of 3.10% during the forecast period (2024-2029).
The growth in adventure tourism globally is propelling the growth of the market as more and more people are participating in adrenaline sports and recreational activities. Adventure sports are gaining significance owing to the rising disposable income and a significant number of the population aged 20-600. According to the World Bank, in 2021, the population aged 15-64 was 65% of the total population globally. As per the Center for the Promotion of Imports from Developing Countries, people aged between 40 and 70 occupy two-thirds of adventure tourism. Factors such as changes in lifestyle, demographics, growing per capita income, and the increasing realization of people towards the physical and mental benefits of outdoor recreational activities are inspiring people to engage in such activities, which are currently creating a demand for the hang glider market. However, accidents caused during hang gliding might create hindrances to the market growth.
Hang Glider Market Trends
Increasing Demand for Non-powered Hang Glider Drive the Growth of the Market
The non-powered hang-glider segment will likely showcase remarkable growth in the hang-glider market during the forecast period. Most of the hang gliders today are not powered by any motor to propel the glider. Enthusiasts usually prefer the non-powered gliders primarily due to their lightweight nature, which allows them to be carried around easily, and the ease of assembly and disassembly. If necessary, the non-powered hang gliders can be converted to powered hang gliders by adding a power system, motor, and propeller, along with other small changes in the system. Thus, non-powered hang gliders are primarily built for hang gliding, owing to their feasibility in conversion to powered ones. Additionally, non-powered hang gliders are cheap compared to powered ones. This is also one of the major factors why people prefer these hang gliders, and this trend is expected to continue the growth during the forecast period.
North America to Dominate the Market During the Forecast Period
North America region will likely dominate the market due to the ever-growing number of sports enthusiasts for hang gliding in the region. The United States currently has a huge market share in the hang glider market. Geographically, many places in the U.S. are favorable for hang gliding, making it one of the most sought-after destinations for hang gliding sport. This would generally create demand for the market in the years to come. Many events are conducted for hang gliding enthusiasts in the United States annually. For instance, the Paradise Airsports Nationals competition is organized every year as a part of the U.S. National Hang Gliding Championship Series. Similarly, the Hang Gliding and Paragliding Association of Canada collaborates with other national associations that are dedicated to hanging gliding, paragliding, and speed flying. Various other festivals are also being conducted annually on a large scale for many extreme sports in the region, including hang gliding, which may promote the sport, thereby boosting the market growth.
Hang Glider Industry Overview
The hang glider market is moderately fragmented in nature, with the presence of several local and global players holding significant shares in the market. Some of the key players are Wills Wing Inc., Moyes Delta Gliders, Aeros Company, Airborne Windsports Pty Ltd., and North Wing. The key OEMs highly invest in the design and development of advanced hang gliders and also focus on business expansion through long-term contracts and agreements.
With the development of smart textiles, several hang glider manufacturers are now offering lightweight hang gliders for sports applications. Lightweight hang gliders are witnessing an increase in demand, and the players are focusing on building such hang gliders to increase their sales. North Wing, a hang glider manufacturer based in North America, designs and manufactures lightweight shift control light-sport aircraft, including hang gliders and accessories for the hang gliders. Such emphasis on materials and designs will likely help the players to gain new customers in the market.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Type
5.1.1 Powered
5.1.2 Non-powered
5.2 Geography
5.2.1 North America
5.2.2 Europe
5.2.3 Asia-Pacific
5.2.4 Latin America
5.2.5 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Wills Wings Inc.
6.1.2 Moyes Delta Gliders
6.1.3 Aeros Company
6.1.4 Airborne Windsports Pty Ltd.
6.1.5 North Wing
6.1.6 Avian Limited
6.1.7 ICARO 2000 srl
6.1.8 Finsterwalder GmbH
6.1.9 La mouette
6.1.10 Albatross Flying Systems
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