BASE Jumping Equipment Market Estimated to Record Highest CAGR by 2018 to 2028
The penetration of wearable and helmet cameras is expected to gain momentum as a significant trend in the BASE jumping equipment market.
[USPRwire, Fri May 24 2019] Growing individual preference for adventurous activities to de-stress and rejuvenate themselves from their deadline-driven busy lifestyle is accelerating growth in the BASE jumping industry. BASE jumping is among the most popular and thrilling air sports. Rising awareness pertaining to the long-term mental and physical benefits of such adventurous activities is further favoring growth in the BASE Jumping Equipment Market.
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The penetration of wearable and helmet cameras is expected to gain momentum as a significant trend in the BASE jumping equipment market. Leading vendors in the BASE jumping equipment market have introduced compact and lightweight wearable cameras to alleviate distraction among jumpers in a bid to prevent avoidable accidents. Such cameras allow jumpers to perform the activity freely while recording all the experiences easily in comparison to normal cameras. Vendors are increasingly investing in advanced technology to equip innovative features, such as electronic image stabilization (EIS) and optical image stabilization (OIS) in the cameras to reduce image and video jitter. These factors are likely to bring positive changes in the BASE jumping equipment market.
BASE jumping equipment vendors are currently struggling to expand their reach due to the growing safety concerns pertaining to this adventurous activity. Life-threatening and risky nature of air sports continue to make several individuals reluctant towards this activity, however, vendors are equipping BASE jumping equipment offerings with advanced safety features to prevent fatal accidents.
The global market for BASE jumping equipment has been expanding on account of the rising popularity of adventure sports across various regional pockets. BASE stands for building, antenna, span, and earth, and all of these words are characteristic of the BASE jumping sport. BASE jumping is essentially a form of parachuting or wing-suit flying that is in great popularity across the globe. It has also become a means of competition at national and international levels, which has further propelled demand within the global BASE jumping equipment market. The tourism industry has also been a primary contributor to the growth of the global BASE jumping equipment market by making key provisions for the promotion and enhancement of the sport. Despite these drivers of demand, the unavailability of enough funds to initiate adventure sports in underdeveloped economies could restrain the growth of the global BASE jumping equipment market.
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The demand for BASE jumping equipment has been increasing across North America and Europe. This is because both of these regions are characterized by a flair for adventure sports amongst the masses. Besides this, the government in these regions is also supportive of initiatives to promote adventure sports. The market for BASE jumping equipment in Asia Pacific also holds tremendous potential for growth in the years to come.
BASE (B- Building, A- Antenna, S- Span and E- Earth) or B.A.S.E jumping is a type of parachuting activity from fixed structures. To brief about BASE jumping, it is a low altitude jumping activity which is more hazardous than skydiving from a plane. As there are many risks involved in BASE jumping, it is prohibited in several regions. BASE jumping is considered as an extreme sport or a stunt and is allowed in few places such as the Perrine Bridge. Some of the recent notable BASE jumps are: a citizen of Chile Ramon Rojas broke the record of the highest BASE jump of about 4,100 meters. In the same year, Whisper was the first dog in the world who participated in BASE jumping.
Apart from the thrilling stunt experience the individual gains from this sport, the rate of fatalities associated are also high. According to Blincmagazine.com, approximately 328 deaths during BASE jumping are recorded since the year 1981 till 2017. Hence safety equipment such as parachutes, containers, stash bags, and pilot chutes are used as safety measures in the BASE jumping activity.
Base jumping is considered as an adventure sport and hence there are many physical and emotional benefits associated with it that are expected to increase the number of individuals opting for this sport which in turn is expected to fuel the growth of BASE jumping equipment and hence the global market. Increasing number of sportsmen are opting for learning lessons for BASE jumping that can help them in solving problems, to have positive attitude, to increase fitness, and also to have healthy emotional balance. As more number of people are accepting the challenge of BASE jumping, the market for its equipment is expected to grow significantly in the coming years. BASE jumping offers a life changing experience that boosts the confidence and also rejuvenates mental health. As younger generation is suffering from stress and anxiety owing to changing lifestyle, adventure sports such as sky diving and BASE jumping are gaining increasing popularity amongst the crowd, which is poised to create positive influence on the BASE jumping equipment market in the years to follow.
One of the major factor hampering the growth of the BASE jumping equipment market is its life threatening and risky nature. BASE jumping is assumed to be more dangerous than sky diving. Owing to increasing mortality rate during base jumping, it is prohibited in many parts across the globe. Another factor that is hindering the growth of the base jumping equipment market is the risk associated with BASE jumping locations. These locations are very small to land making the sport risky. This has resulted in reduced participation since past few years. One fatality per sixty participants is the mortality rate of BASE jumping in the year 2006. Since then this ratio has been increasing which has a restraining impact on the BASE jumping equipment market.
BASE jumping is not permitted in many parts of the globe and therefore its popularity and adoption is also limited to certain parts across the world (where the sport is permitted). One of the hot spot for BASE jumping is located in West Virginia at the New River Gorge Bridge. Some other legal sites for BASE jumping are European Alps, and Kjerag Mountain in Norway. Troll Wall in Norway and Sydney Harbour Bride are banned sites for BASE jumping.
Asylum Designs, Rock Sky Market, Apex base, Basejumper.com and Squirrel are some of the top BASE jumping equipment players across the word.
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