The hang glider market is anticipated to register a CAGR of over 8% during the forecast period.
- The growth in interest among the people for the extreme/ adrenaline sports is mainly propelling the demand for the hang glider market.
- North America region is estimated to lead the market due to the presence of enthusiasts for hang gliding in this region. However, Europe is expected to grow at the highest CAGR during the forecast period.
Key Market Trends
Increasing Demand for Non-powered Hang Glider
The non-powered hang-glider is expected to continue its demand in the hang glider market during the forecast period. Most of the hang gliders we see today are not powered by any motor to propel the glider. Enthusiasts usually prefer the non-powered gliders primarily due to its lightweight nature that allows it to be carried around easily, and the ease of assembly and disassembly. If necessary, the non-powered hang gliders can be converted to powered hang gliders by adding a power system, motor, and propeller along with other small changes in the system. Thus, non-powered hang gliders are primary built for the hang gliding, owing to their feasibility in conversion to powered ones. Additionally, non-powered hang gliders are cheap compared to powered ones. This is also one of the major factors where people prefer these hang gliders, and this trend is expected to continue the growth during the forecast period.
North America had the Largest Share in the Market in 2019
North America region had the largest share in the market, due to the ever-growing number of enthusiasts for hang gliding in the region. The US currently has a huge market share in the hang glider market. Geographically, there are many places in the US that are favorable for the hang gliding, making it one of the most sought destinations for hang gliding sport. Also, there was an ever-increasing number of enthusiasts who prefer extreme/ adrenaline sports like hang gliding in the US. This would generally create demand for the market in the years to come. There are many events being conducted for hang gliding enthusiasts in the US annually. For instance, in May 2018, Kitty Hawk Kites, in North Carolina, US recently hosted the 46th Annual Hang Gliding. Various other festivals are also being conducted annually on a large scale for many extreme sports in the region, including the hang gliding, which may promote the sport, thereby boosting the market revenues.
The prominent players in the hang glider market are Wills Wing Inc., Moyes Delta Gliders, Aeros Company, Airborne Windsports Pty Ltd, and North Wing. The intensity of rivalry among the competitors is high, mostly for obtaining long-term contracts. With the development of smart textiles, several hang glider manufacturers are now offering lightweight hang gliders for sports applications. Lightweight hang gliders are witnessing an increase in demand, and the players are focusing on building such hang gliders to increase their sales. For instance, North Wing, a player based in North America, designs and manufactures lightweight shift control Light-Sport Aircraft including Hang Gliders, and the accessories for the hang gliders. Such emphasis on materials and designs will help the players to gain new customers in the market.
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