Published on : Dec 24, 2019
A recent market research report published by Researchmoz talks about the global hot air ballooning equipment market and its overall working dynamics. This report of the hot air ballooning equipment market offers comprehensive analysis, market shares, key trends, opportunities, and driving and restraining factors that are influencing the growth of the market. Along with in-detail market segmentation, the research report offers key insights and information that are imperative for devising decisive marketing strategies.
Hot air ballooning involves flying hot air balloons. The sport provides a slow movement, quiet environments, and a great top view from the high skies. The passengers in the hot air balloon experience almost no wind as the air balloon mover as per the direct of the wind. The sport is regulated by the Federation Aernautique Internationale (FAI) and is considered to be a harmless sport among several aviation sports. The rate of casualty in the sport is considerably less than that found in other aviation sports as per the research study presented by the National Transportation Safety Board.
There are three main parts of the hot air balloon manufacturing and design. The top end, the ground equipment, and the bottom end. The top end consists of the balloon that manufactured and designed in a standard and regulated format. The top end of the balloon is made of a special material called as rip stop nylon. This material is shaped and cut into gores and then stitched later into a load tape. The ground equipment consists of items that are necessary to get the hot air balloon in the air and items required for safe landing. It includes retrieve vehicles, tether ropes, trailers, and petrol fan. The bottom end involves safety instruments and equipment, burners, and cylinders.
Increasing Participation in Hot Air Ballooning Events is Driving Market Growth
There are several factors that are helping to drive the growth of the global hot air ballooning equipment market. One of the key driving factors has been the growing participation in the hot air ballooning events across the globe, especially in the developing countries. Moreover, several companies are using these events to promote their brands. The display of huge brand logos on the hot air balloon in air is considered to be a great attracting technique. Moreover, such promotions are also quite cost efficient. This has helped in increasing the popularity of such events and thus aided in pushing the overall growth of the global hot air ballooning equipment market. With the advancements in technology such as precise track determination and accurate GPS have further added to the growing use of hot air balloons. Such advantages have also helped in the development of the global market.
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There are however, some factor that are hampering the growth of the global hot air ballooning equipment market and stopping it from reaching its full potential. One of the major restraining factors is the high manufacturing costs of these hot air balloons. However, with growing participations in the events and increasing sponsorships from several brands is expected to help generating better profits for the leading players in the market.
The competitive landscape of the global hot air ballooning equipment market is a consolidated one with the presence of handful of companies operating in the market. Some of the leading players in the market include names such as Ultramagic Balloons, Kubicek Balloons, Lindstrand Technologies Limited, Firefly Balloons, Aersaurus Balloons, and Cameron Balloons among others. The leading players in the hot air ballooning equipment market are concentrating on developing innovative designs and technology so as to stay ahead of the competitive curve.