How does air in a water balloon act in space? I was making an analogy with gravity and water and it went like this. When air is trapped in water as a bubble, water is pushing towards the inside and like Newton's law equal and negative forces pushes back and so the analogy comes in place when I assume that gravity is the reverse version of air trap in water. But any ways in other to prove this analogy it's with a simple experiment that might already be answer how those air trap in water like in a water balloon act in a vacuum that is space 
 A: 0 Pressure 
Assuming you fill a balloon with water here on earth, and has some air trapped inside, the balloon will have a volume V1. When you take that balloon into space it will expand and its new volume V2 will be greater than V1. 
This is because the atmospheric pressure is no longer there. Only the surface tension of the balloon remains, and it depends on how stretched the balloon is. Therefore in order to match the gas pressure the balloon will expand. By doing so, it increases its tension and at the same time reduces the pressure of the gas since gas volume increased. 
The air bubble(s) would float around freely since there will be no gravity, therefore buoyancy would be 0.
Atmospheric pressure (e.g. space station)
Assuming the same conditions inside a pressurized space station; 
the air would still float around inside the water, and the balloon wouldn't expand at all.

Note: Gravitational forces will have practically no effect on such a tiny scale.
A: An air bubble in water expands until its internal pressure matches the external pressure in the water around it. 
The bubble moves upwards, however, because the air is less dense; water immediately above the bubble is pulled downward by gravity more strongly than the air in the bubble is being pulled downward. 
This difference means that the water flows downward around the bubble, leaving the bubble above that small mass of water, and thus higher up. This continues until the bubble reaches the surface (i.e. all the water has all flowed down to its lowest position).
Without gravity, the water around the bubble has no net force on it compared to the air in the bubble, so the bubble does not move relative to the water. This can be seen in experiments done on board the ISS.
Unfortunately, bubbles moving in water are then a result of gravity, so it is hard to explain gravity in terms of bubbles, and certainly it doesn't act in some way 'reverse' of air bubbles in water.
Gravity attracts any pair of objects, proportionate to the mysteriously universal mass value attributed to each of its particles. Air bubbles in water are moving because of relative differences in the forces on them vs the water, whereas gravity acts universally, and always attractively.
A: Non-rotating baloon
When the water balloon is not rotating, the only force acting on the air bubble is gravity from different parts of the water balloon. Now the question arises as to why the air bubble inside moves to the centre of the balloon.
Below is an illustration of what really happens when air bubble is introduced into a water filled balloon.



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*Suppose air is introduced from the bottom of the balloon. The air will attain a spherical shape in because of surface tension. 

*Water in the upper part of the balloon will exert a greater Gravitational force on the air bubble than the lower. Therefore, the air bubble will start accelerating upwards. Eventually, the bubble will come to rest when the gravitational force exerted by water will become fairly equal in all directions.

*This behaviour of the bubble is independent of the density of the bubble's constituent fluid. A bubble of corn syrup will behave similarly in space in a water balloon.
This process (of gravitational attraction) is very slow, and so the air bubble will appear to remain where they are. If in this experiment the air bubble is replaced with oil or corn syrup bubble, the results will be similar.

Rotating balloon
If you start rotating the balloon, the air bubble will start coming closer to the axis of rotation. This is because a force starts acting on the air bubble, because of the angular acceleration created by rotation of the water balloon. The air bubble is driven towards the axis of rotation because air is less dense than water.
If you repeat this experiment, but replace air bubble with corn syrup bubble, the corn syrup bubble will move away from the axis of rotation of the water balloon. This is because corn syrup is more dense than water, and the angular acceleration causes it to move away from the axis.
This experiment was performed by Donald Pettit and a video of his experiment is available on youtube: link
