About Hot Air Balloon
Hot air balloons are also known as Montgolfier balloons. Hot air balloons are an ingenious application of basic scientific principles. The balloons can fly to extremely high altitudes. Recently, hot air balloons are used primarily for recreation. Modern hot air balloons, with an onboard heat source, were developed by Ed Yost.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Global Hot Air Balloon is a fragmented market due to the presence of various players. The players are investing more in mergers and acquisitions to enhance their market presence. The companies are planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. 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.
Cameron Balloons Ltd (United Kingdom), Ultramagic (Spain), Cappadocia Voyager Balloons (Turkey), Royal Balloon (United States), The United States Hot Air Balloon Team (United States), Liberty Balloon Company (United States), Above the Cloud (United States), Big Sky Balloon Co (United States), Midwest Balloon Rides (United States) and Atlas Balon (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 BALLONS du LEMAN (Switzerland).
Segmentation Overview
AMA Research has segmented the market of Global Hot Air Balloon market by Type (Montgolfier Hot Air Balloon, Sky Lanterns, Long-Distance and Roziere Hot Air Balloons, Tourism Hot Air Balloons and Others) and Region.
On the basis of geography, the market of Hot Air Balloon has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, 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 Component, the sub-segment i.e. Panels will boost the Hot Air Balloon market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The popularity of Hot Air Balloon
Market Growth Drivers:
Increasing Peoples Preference towards Hot Air Balloon Ride
Challenges:
Regulatory Guidelines on the Manufacture, Registration, Maintenance and Airworthiness Certificate of the Hot Air Balloon
Restraints:
Accidents Related Risks to Hot Air Balloons
Opportunities:
Growing Demand for Hot Air Balloons from Emerged and Emerging Economies can create Opportunities for the Market Growth
Market Leaders and their expansionary development strategies
In July 2023, Cuvée Collective, a venture of Libation Labs, on Wednesday announced it has acquired Napa Valley. The acquisition will be expand the product portfolio.
In April 2023, revolutionary breakthrough in hot air balloon technology - a steerable hot air balloon. Virgin Balloon Flights, a leading hot air balloon operator, is proud to be the very first to implement and utilise this ground-breaking new advanced technology, offering passengers and adventurers an entirely new level of control, stability, and excitement as they gracefully navigate the skies.
As per the Directorate General of Civil Aviation (DGCA) regulations, “all manned hot air balloons would be required to be registered before any flight was undertaken and the hot air balloon shall not be sold or disposed of in any way to any person or firm without production of a certificate from the DGCA.”
Key Target Audience
Hot Air Balloon Regulatory Bodies, Potential Investors, Research and Development Institutes 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.