Pune, 07, Dec, 2022: As per Maximize Market research, a global business research and consultancy firm, the total global market for Targeting Pods Market was USD 4.11 Bn. in 2021 and is expected to grow at CAGR of 8.60% over the forecast period to reach USD 7.95 Bn. by 2029
Targeting Pods Market Scope and Research Methodology
Targeting Pods systems that are used for a ground-attack aircraft to identify targets, allows to determine the position and engage them using precision-guided munitions in autonomous or assistive combat scenarios. Targeting Pods have advanced features such as GPS which allow user to receive target location and share data with other user for enhanced communication. Most importantly it allows user to get clear image of target on touch screen colour display.
The bottom-up approach was employed to validate the market size in terms of value and volume by different segments. Data was collected employing both primary and secondary data collection methods. Surveys, administering questionnaires and telephonic interviews with industry specialists, market leaders, entrepreneurs and marketing professionals were included in the primary methods. Secondary data was collected from a list of sources for maximum reliability of the inferences. This includes official databases of various organisations and government sites, industry journals, white papers, annual reports, releases of product manufacturers and suppliers in the industry along with paid databases.
SWOT analysis was conducted to provide the strengths and weaknesses of Targeting Pods Market while PESTLE was employed to understand the potential impact of the micro-economic factors affecting the Targeting Pods Market. Thus the report provides a detailed overview of the Targeting Pods.
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Targeting Pods Market Overview.
The global military expenditure has experienced sharp growth over the last decade. A largest part of country expenditure is share by defence sector. In that share most of the expenditure is done on new generation military combat aircraft and other aerial assets, thereby encouraging R&D to upgrade the current capabilities of targeting pods to get superiority over forces by enabling long-range precision engagement.
The COVID-19 pandemic has drastically affected the defence sector budget as the most of expenditure is done on vital medical infrastructure development. Such thing may affect the growth of market.
Targeting Pods Market Dynamics
Demand aircraft is increasing in modernization era. As in the global defence industry the targeting pods in aircraft is getting more popularity. Sharp rise in demand has been observed in the first half of expected period. Due to innovation for gaining more accuracy has boost the demand for targeting pods. Governments across the world are increasing defence share expenditure it results to growth in market.
As development of sensor technology such as various vision based application like surveillance, driver assistance, activity recognition, automobile navigation, detecting and tracking object accurately. Great innovation are taking placed in this field. Great monocular or stereo camera technologies have been developed for both single and multiple cameras.
Targeting Pods Market Regional Insights
Europe had the largest share of the Targeting Pods market, followed by North America, and APAC in 2021. The largest market for targeting pods in Europe in 2021 was expected to be Russia. Aircraft upgrade initiatives are the main reason for Russia’s dominance of the European targeting pods market.
Due to R&D activities and increasing investments in defence services. Asia-Pacific region is expected to hold the largest growth rate in the forecast period. The government-sponsored development initiatives of nations like Thailand and India are also contributing to the growth of the regional market.
Targeting pods Market Segmentation
By Type
- FLIR & Laser Designator Pods
- Laser Designator Pods
- FLIR Pods
- Laser Spot Tracker
By Component
- FLIR Sensor
- Charge Coupled Device (CCD) Camera
- Environmental Control Unit (ECU)
- Moving Map System (MMS)
- Digital Data Recorder
- Processor
- Video Data Link
- High Definition (HD) TV
By Fit
- OEM Fit
- Upgradation
By Platform
- Combat Aircraft
- Unmanned Aerial Vehicles (UAVs)
- Attack Helicopters
- Bombers
Targeting Pods Market Key Manufacturers include:
- Aselsan A.S
- BAE Systems
- FLIR Systems
- IAI
- Israel Aerospace Industries Ltd.
- L3 Technologies, Inc.
- Lockheed Martin Corporation
- Moog, Inc.
- Northrop Grumman Corporation
- QI Optik
- Rafael Advanced Defense Systems
- Raytheon Company
- Thales Group
- Ultra Electronics
Key questions answered in the Targeting Pods Market are:
- What is Targeting Pods?
- What is the growth rate of Targeting Pods Market for the forecast period?
- What is the nature of competition in Targeting Pods industry in developed and developing economies?
- Who are the key players in the Targeting Pods Market?
- Who are the market leaders in Targeting Pods in Europe
- Who are the market leaders in Targeting Pods in USA and Canada
- Who are the market leaders in Targeting Pods in India, China, Japan and South Korea?
- What are the factors affecting growth in the Targeting Pods Market?
- Who held the largest market share in Targeting Pods Market?
- What are the factors for the growth of Asia-Pacific region in Targeting Pods market?
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Key Offerings:
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by type, component, fit, and platform.
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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