About Hot Air Balloon Ride
The hot air balloon ride is an adventure activity and is enjoyed by many people around the world, it can be done during vacations, celebrations, family events, corporate events, etc. The hot air balloon workers on the natural law where hot is lighter than the cold air which helps in lifting the balloon. It consists of a burner for heating the air, and baskets and booking service for hot air balloon can be availed through online and offline channels.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 5.3% |
The leading organizations in the market to avail competitive advantage makes new innovations in balloon technology that deliver a qualitative and safe user experience to the customer. Also, organizations are participating in new festivals and challenges and try to improve their technology defects. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Hot Air Balloon Ride market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Ultramagic (Spain), Cameron Balloons (United Kingdom), Kubicek Balloons (Czech Republic), Lindstrand Technologies Ltd (United Kingdom), APEX Balloons (United States) and FireFly Balloons (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Virgin Balloon Flights (United Kingdom), Bristol Balloons (United Kingdom) and Balloon School International (United Kingdom).
Segmentation Overview
AMA Research has segmented the market of Global Hot Air Balloon Ride market by and Region.
On the basis of geography, the market of Hot Air Balloon Ride has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Occasion, the sub-segment i.e. Tourism will boost the Hot Air Balloon Ride market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Product, the sub-segment i.e. Hot Air Balloon will boost the Hot Air Balloon Ride market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Service, the sub-segment i.e. Online Booking will boost the Hot Air Balloon Ride market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Adult will boost the Hot Air Balloon Ride market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Consumption of Hot Air Balloon Ride Among Young Adults and Family Events
Market Growth Drivers:
Growing Recreational Activities Across the Wolrd and Demand for Adventure Activities
Challenges:
Restriction in the Travelling Activities Due to the COVID-19 Might Hinder the Hot Air Balloon Ride Market
Restraints:
Risk Associated with Hot Air Balloon Ride and High-Cost Booking Price of Hot Air Balloon Ride
Opportunities:
Surging Disposable Income and Standard of Living of People Around the Globe will Boost the Hot Air Balloon Ride Market
Market Leaders and their expansionary development strategies
In July 2023, Hamilton Airport is delighted to announce a new four-year relationship as proud legacy partners of the ionic Balloons Over Waikato festival. A visually spectacular annual event in the heart of the Mighty Waikato since 1999, Balloons Over Waikato captivates hearts and minds and brings colour to our skies with a five-day festival of vibrant morning ascensions, culminating in the mesmerising ZURU Nightglow.
In November 2023, Lal Khattar today inaugurated a hot air balloon safari in Pinjore. He took the first ride along with Haryana Assembly Speaker Gian Chand Gupta and Tourism Minister Kanwar Pal Gujjar. The company operating the hot air balloon has obtained safety certificates. The introduction of this attraction will boost tourism in the area and provide employment opportunities to locals
"According to European Union Aviation Safety each Hot Air Balloon must have the means to allow the controlled release of hot air during flight unless the balloon complies with standards without it. For the purpose of envelope material protection, each Hot Air Balloon must have the means to indicate the maximum envelope skin temperature or maximum internal air temperature during operation. Balloons are aircraft and, as such, are regulated by the D.G.C.A. They must meet manufacturing standards and are subject to periodic inspections, just like a commercial jetliner The Balloon needs to be registered with the D.G.C.A. and its registration no. displayed on the Balloon."
Key Target Audience
Hot Air Balloon Ride Providers, Hot Air Balloon Ride Industry Association, Hot Air Balloon Equipment Manufacturers, Research and Development Institutes, Potential Investors, Regulatory Bodies 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.