Stratview Research has launched a new report on the “Targeting Pods Market” and forecast to 2028. This report provides deep insights into the revenue, market trends, and governing factors, along with market attractiveness per market segment. The report provides an overview of the growth rate of the Targeting Pods Market during the forecast period, i.e., 2023–2028.
Market Insights
The targeting pods market was estimated at USD 3.46 billion in 2022 and is likely to grow at a CAGR of 7.17% during 2023-2028 to reach USD 5.26 billion in 2028.
What are targeting pods?
Targeting Pods are tools to identify targets and guide precisely through options such as lasers for the bombing. These pods are available in different types such as FLIR designator, laser designator, and laser spot tracker.
Targeting Pods have a number of components for the action to take place such as a FLIR sensor, environmental control unit, video datalink, processor, charge-coupled device, moving map system, digital data recorder, and high-definition TV. These are of high usage in the case of combat aircraft, attack helicopters, unmanned aerial vehicles, and bombers.
Targeting Pods Market Segment Analysis
Based on the type, the market is segmented as FLIR & laser designator pods, laser designator pods, FLIR pods, and laser spot tracker pods. The FLIR & laser designator pods segment is estimated to remain dominant during the forecast period. The growing application of forward-looking infrared sensors, along with laser designators for targeting and surveillance, is driving the growth of the segment.
Based on the component type, the market is segmented as FLIR sensor, Charge Coupled Device (CCD) Camera, Environmental Control Unit (ECU), Moving Map System (MMS), video datalink, digital data recorder, processor, and high definition (HD) TV. The FLIR sensor segment is expected to remain dominant in the coming five years. The market is driven by the rise in spending on aircraft with precision attack capabilities under low light conditions.
Based on the fit type, the market is segmented as OEM fit and upgradation. The OEM fit segment is estimated to lead the market during the forecast period due to the growth in expenditure on airborne targeting and laser designation systems.
Based on the platform type, the market is segmented as combat aircraft, unmanned aerial vehicle (UAV), attack helicopters, and bombers. The combat aircraft segment is expected to be dominant during the forecast period, sustained by the rise in expenditure on the upgradation of prevalent aircraft and new aircraft procurement programs, primarily for precision ground attack capabilities. The UAVs segment is estimated to depict the highest growth in the coming five years, owing to the rise in spending on reconnaissance and surveillance operations.
In terms of regions, Europe is estimated to be the largest market for targeting pods during the forecast period, followed by Asia-Pacific and North America. Europe’s large share can be ascribed to the rising expenditure on advanced airborne targeting systems by economies, such as the UK, France, and Russia, and the upgradation and procurement of targeting pod-based aircraft. Russia was expected to emerge as the leading market for targeting pods in Europe during the forecast period. The prime reason for Russia’s dominance of the European targeting pods market is owing to the country’s aircraft upgradation programs. North America and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.
The research on the Targeting Pods Market focuses on mining out valuable data on investment pockets, growth opportunities, and major market vendors to help clients comprehend their opponent’s methodologies. Comprehensive assessment of critical aspects such as factors affecting the market, and competitive geography are showcased with the help of reliable resources, such as charts, tables, and infographics.
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