New York, NY -- (SBWIRE) -- 10/24/2018 -- Global Underwater Jetpack Market Overview
Underwater jetpack is a propulsion device for swimmers that pushes the user to move forward under water. Underwater jetpack is used by swimmers, snorkelers and divers and offers in-water stabilization and smooth movement. The indulgence in water sporting activities by people of all age group has given birth to a set of niche and different products including underwater jetpacks.
The merchandise of underwater jetpack is in its embryonic stage, and only a handful of companies have successfully been able to launch the product. With increased attraction towards water sporting activities and consistent demand for innovative products, under water jet packs are likely to fully commercialize by the next three to five years.
In the existing market, there are only a handful of manufacturers that offer underwater jetpack on placing a specific order through the company website. The product has a wide market to cater in North America. But soon the engaged industry stakeholders might plan to explore opportunities in Europe and the Asia-Pacific.
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Global Underwater Jetpack Market Dynamics
The driving force for the underwater jetpack market is the increasing attraction towards marine sporting activities, such as underwater hockey, underwater football, aquathlon and some others activities. The use of underwater jetpack for recreational and professional scuba diving also anticipated to add value to the global underwater jetpack market, which as of now is at infancy stage with no more than thousand unit sales in North America through existing channels. The underwater jetpack offers in-water stabilization and smooth movement to the divers and snorkelers, as per the claims made by engaged industry stakeholders.
The requirement of underwater jetpack by military, scientists, and coastal lifeguards for different applications will be a driving factor for the global market, and the companies engaged in manufacturing and marketing of underwater jetpacks should brand the product accordingly and synthesize direct tapping strategy.
According to the present global market conditions, the underwater jetpack is receiving lukewarm response due to its high price. Nevertheless, the prices over the next few years is anticipated to modulate in the purchasing range of large set of customers.
The new generation always demands devices that offer high-speed; therefore, the manufacturers are working on increasing the speed limit and the depth that can be reached with the help of the underwater jetpack.
Global Review of Underwater Jetpack Market
Many regional governments are promoting recreational activities such as water sports among people. North America is one of the consistent markets for the underwater jetpack. Countries located on the coastline or with a significant marine area have a thriving underwater sports business, which will accelerate the demand for underwater jetpack. Australia and New Zealand have a significant market for water sports activities and are a massive market for the underwater jetpack.
The Asia-Pacific region is an emerging market and may have a maximum share in the growth of the underwater jetpack market in the forecast period.
According to our insights, the rising trend of underwater sporting activities will aid in the demand for the underwater jetpack in the forecast period, 2018-2028.
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Global Underwater Jetpack Key Manufacturers
The prominent manufacturer of the underwater jetpack is X2 Sports. The underwater jetpacks are available only on specific order through company websites. In the global market, manufacturers are focusing on the innovation of products for water sporting activities. They offer different products and concentrate mainly on the demands of young enthusiasts to generate additional revenue. We anticipate the growth of underwater jetpack market in the next 3-5 years when other companies will launch similar products. A few of the Chinese players are also in process to develop similar prototypes of product but haven't been able to commercialize the same.
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