We used to have this discussion on the kite side and argued that there is no way the cost of a kite is justified given the material and labor costs. Now what about winging?
During covid, the price of wings has nearly doubled, and in the case of aluula, nearly quadrupled. Now we have wings that are approaching or exceeding the costs of kites.
The market was in a frenzy due to low supply and extremely high demand for wing gear - anyone could learn to do it and it was so safe. I also believe making a wing is highly profitable, because it looks easier to make than a kite and with less materials. So companies realized what a windfall this could be and started to ramp up prices and production of wings fast. Everyone has made a company to make a wing now. We saw this years ago with kiting, the number of companies stabilized and there has been a slow die off.
Now I predict moving forward we will see a contraction in demand, while supply slowly recovers. Will the prices go down? Probably not. but this climate should be priming for good competition. I bet we'll see healthy competition between companies and maybe more companies that are modeled on a direct to consumer model (e.g. gong, switch, and historically , best), to try to cut dealer costs.