About Flyboarding Equipment
The soft adventure sporting goods market, including flyboarding, holds great potential globally. It is mainly driven by the growing interest of consumers in outdoor recreational activities and the availability of a wide range of flyboarding equipment. In addition, the tourism industry has also encapsulated water sports among the various activities available for domestic and international tourists.
Technavio’s analysts forecast the global flyboarding equipment market to grow at a CAGR of 3.05% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global flyboarding equipment market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of flyboarding equipment.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Flyboarding Equipment Market 2017-2021
Technavio recognizes the following companies as the key players in the global flyboarding equipment market: Adidas, DEFY WaterFlight, FlyDive, Stratospheric Industries, and Zapata Racing
Other Prominent Vendors in the market are: Billabong, Body Glove, Dive Rite, Johnson Outdoors, and Cressi
Commenting on the report, an analyst from Technavio’s team said: “Artificial waterbodies for flyboarding are gaining popularity among water sports enthusiasts. The US National Whitewater Center situated in Charlotte, North Carolina, has the largest artificial river in the world, which is suitable for flyboarding. The Kielder Water in northern Europe is one of the largest man-made lakes in the region, which has become extremely popular among tourists for water sports activities. Another well-known example is that of surf parks integrated with artificial wave technology. Currently, there are at least 10-15 such water surf parks, which are scheduled to start operating in the next few years in Russia, Spain, and Hawaii. These artificial, man-made attractions not only provide consumers with a convenient and easier option, but also allow various tourist businesses, like restaurants and lodging options, to thrive. For example, the Riverdale Hall in Northumberland, which is the closest hotel to the Kielder Water, cashes in on the various water sporting activities undertaken on the Kielder Water, like flyboarding, sailing, water skiing, and ferry trips.”
According to the report, water sports like scuba diving, surfing, and snorkeling have become an inherent part of recreational activities over the past decade. Recently, various government bodies have actively started promoting water sports to increase the revenue generated from the tourism industry across the globe. Many promotional campaigns are being run by both local governments and tour operators in several countries, which, in turn, are resulting in the growth of the water sports industry at large. Changing demographics and lifestyles, along with an increase in recreational expenditures, have been aiding in increasing the popularity of outdoor sports.
Further, the report states that flyboards are relatively highly priced, and this tends to restrict potential market growth, especially among people engaging in flyboarding casually. The average cost of quality flyboards is more than $5,000, which restricts high scale of adoption of flyboards among individual consumers. Also, most of the customers, especially in countries such as Indonesia and Cambodia, are reluctant to use such high-priced flyboards, which in turn affects the revenue of the global flyboard market. Moreover, casual flyboarding enthusiasts tend to rent flyboards rather than buying it, which further hampers growth.
Adidas, DEFY WaterFlight, FlyDive, Stratospheric Industries, Zapata Racing, Billabong, Body Glove, Dive Rite, Johnson Outdoors, Cressi.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook