$6.22 Bn Global Targeting Pods Markets, 2028: Focus on Israel, USA, Russia, China, India, France, Saudi Arabia, Italy, United Kingdom & Germany

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Jun 01, 2021, 11:00 ET

DUBLIN, June 1, 2021 /PRNewswire/ -- The "Global Targeting Pods - Market and Technology Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

Global Targeting Pods is USD 3.54 Billion in the year 2020 and it is anticipated to reach a value of around USD 6.22 Billion by the year 2028. The market growth dynamics account for a CAGR of around 7.06% during the forecast period, 2020-2028.

APAC is expected to dominate the global market with a market value of around USD 2.62 billion owing to the increasing R&D investment in this sector coupled with an infrastructure that supports the same.

The rising global conflicts and cross-border tension between countries including China, India, Pakistan, and Others in the APAC region is another factor that is expected to fuel the growth of the Global Targeting Pod Market. North America is expected to be the second-largest market with a value of around USD 1.83 Billion. APAC is expected to be the fastest-growing market over the forecast period with a CAGR of around 8.66%.

Since the use of carpet bombing, which resulted in unintended civilian causalities, there was a clear need for increased precision of bombing to get higher efficiency and effectiveness of an operation. The intended result was to effectively neutralize targets with minimal firepower. During the 2nd World War, the pilots used to mathematically calculate the time of the release of the bomb, however, this was not very effective. This resulted in the emergence of the Targeting Pod Market.

The digital battlefield has become a force multiplier in the 21st century that has reshaped how military forces around the globe prepare for and overcome regional and international competitors' issues. Targeting Pods, having become beneficial, interlinked nodes in the field with all-new tactical abilities, have not escaped the significant impacts of digitalization.

The number of advanced targeting pod systems has increased over the last decade as defence departments aim to build their armed forces lighter, faster, and ready to deploy. The military and defence sector worldwide are demanding an elevated need to implement an advanced targeting pod (TGP) to provide identification of targets and allow for more reliably planned releases of weapons without the assistance of external off-board tools.

Variables such as focusing on improving frontline situational awareness and increasing occurrences of asymmetric and network-centered warfare have a major positive impact on the targeting pod market.

Moreover, the increase in defence spending, particularly in emerging economies, and subsequent investments in the procurement of such systems are further boosting the growth of the market.

Factors such as cost of equipment, obsolete platforms, and technological advancements in munitions, however, hinder the growth of the market to some extent. Increasing terrorist attacks and a focus on counter operations, and the launch of military modernization programs by many nations around the world, have created promising opportunities for the targeting pod market to grow.

Market Dynamics of the Global Targeting Pod Market

Drivers

Advancements in Sensor Technology
Rise in Unmanned Platforms
Ongoing Military Modernization Programs
Increased Battlefield Capability
Innovative Manufacturing
Growth in Asymmetric Warfare
Rise in Global Conflicts

Restraints

Cost of Equipment
Obsolete Platforms
Technological Advancements in Munitions

Challenges

Defense Budget
Interoperability
Security
Image Processing
Network Limitations

PEST Analysis

Porter's Five Forces Analysis

Companies Mentioned

Aselsan A.S
BAE Systems
FLIR Systems
L3 Technologies Inc
Lockheed Martin
Moog Inc
Northrop Grumman
Raytheon Technologies
Thales Group
Ultra Electronics

Segmentation covered in this report

The market is segmented based on Region, Platform, Type, Fitment, and Components:

By Region:

North America
Europe
APAC
Middle East
ROW

By Platform:

Fighter Aircraft
Attack Rotary Platforms
Unmanned Aerial Vehicles (UAVs)
Bombers

By Type:

FLIR and Laser Designator Pod
Laser Designator Pod
FLIR Pod

By Fitment:

Line Fit
Retro Fit

By Components

Sensors (FLIR and Laser Designators)
Charged Coupled Device (CCD) Camera
Environmental Control Unit (ECU)
Moving Map Systems (MMS)
Video Datalinks
Digital Data Recorder
Image Processors
Display Systems
Connectors

Country Analysis

USA
Russia
China
India
France
Saudi Arabia
Italy
United Kingdom
Germany
Israel

For more information about this report visit https://www.researchandmarkets.com/r/i62otg

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Research and Markets
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SOURCE Research and Markets