Why would one study hyperbolic geometry? I am only aware of the motivation where you give axioms for elementary euclidean geometry and then start to wonder wether the parallel axiom is necessary. You then see that if you negate the axiom you get the hyperbolic space instead of the euclidean space. But if this were the only motivation then one might very well learn the construction of the space and then stop. Instead it is taught in elementary and differential geometry and this can't be only because the theorems are exotic if compared to the euclidean case.
I am mostly looking for mathematical motivations here, so what are relations to other fields, what are the advanced topics and such. Why is hyperbolic geometry of interest for a mathematician?
+1) Blue, one needs to look into some history here. That parallel postulate (which was put indeed as an axiom by Euclid) was challenged by many not to be a postulate at all. In fact, many mathematicians and other scientists alike thought that it should have been a theorem rather than just being given as an assumption. When considering it as a theorem, in a nut shell it came down to several cases to be observed when the "proof" was generated. And as it turns out, for many parallel lines through a given point it came a hyperbolic surface and when no parallel line would suit, the surface became a sphere. And so this resulted in many new properties, one of them being that the sum of angles relates to the area of a triangle. Challenging the parallel postulate is just another great example that new doors to unknown worlds open up. A good book (there are several) to read would be : "Introduction to non Euclidean Geometry" by Wolfe (Dover publ).