About Hot Air Ballooning Equipment
The act of flying hot air balloons is known as hot air ballooning. A tranquil environment, gradual movement, and a top view from the sky are all advantages of hot air ballooning. As the hot air balloon sails in the direction of the wind, passengers experience an almost little breeze. Passengers may feel the wind speed when the balloon climbs or descends in the atmosphere and moves in a different direction or speed than air. The (FAI) considers hot air ballooning to be a safe air sport. Due to an increase in participation in ballooning events in developing countries, demand for hot air ballooning equipment is expected to rise. Furthermore, an increase in the utilization of hot air balloons by businesses for brand promotions is propelling the industry forward. Brand logos displayed on hot air balloons are excellent in attracting customers and are also cost-effective. Hot air ballooning is also beneficial to the tourism business because it provides tourists with a unique experience. Users of hot air balloons can benefit from technological developments such as GPS and track identification.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 5.5% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Hot Air Ballooning Equipment market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Cameron Balloons(United Kingdom), Aerosaurus Balloons Ltd (United Kingdom), Firefly Balloons (United States), Lindstrand Technologies Limited (United States), Kubicek Balloons (Czechia), Ultramagic Balloons (Spain) and Akash sky balloons (India) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Hot Air Ballooning Equipment market by Type (Envelopes, Baskets, Burners, Inflation Fans, Fuel Cylinders and Other), Application (Passenger ride, Advertising, Sports and Scientific Research) and Region.
On the basis of geography, the market of Hot Air Ballooning Equipment has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Singapore, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Spain, Rest of Europe), MEA (Saudi Arabia, Turkey, Israel, United Arab Emirates, South Africa, Rest of Africa), North America (United States, Canada, Mexico).
Influencing Trend:
GPS and Live Tracking Systems
Market Growth Drivers:
Increase in Participation in Ballooning Events and Increase in Adventure Sports across the World
Challenges:
Increased Number of Hot Air Balloon Accidents
Restraints:
High Manufacturing Cost
Opportunities:
Growing Demand by Companies for Advertisement Purposes
Market Leaders and their expansionary development strategies
In July 2021, Raven Industries, Inc. announced it has acquired intellectual property (IP) and patents from Loon, LLC (formerly known as Project Loon), a subsidiary of Alphabet Inc. and the developer of an autonomous constellation of high-altitude balloons for communications.
On April 1, 2023, Cameron Balloons unveiled their innovative steerable hot air balloon, marking a significant advancement in hot air ballooning technology. This novel design, called the B-Wing, incorporates angled fins that utilize the principles of fluid mechanics to provide a degree of steering to the balloon.
Key Target Audience
Manufacturers of Hot Air Balloon Equipment, Suppliers of Hot Air Balloon Equipment, Wholesalers, Distributors and Retailers of Hot Air Balloon Equipment and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.