The Report Focuses on Targeting Pods Market in Asia Pacific Market, especially in China, Japan, Korea, Taiwan, Southeast Asia, India, Australia.
— Targeting pods are electronic devices capable of assisting ground-attacking aircraft for identifying targets at low altitudes and attacking them with precision guided missiles. The need for defense forces to strengthen their air force is likely to spike up the demand for targeting pods. The global targeting pods market report by Market Research Future (MRFR) contains insights and trends which can play a major role in the defense plans of militarily weak economies.
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The global targeting pods market is estimated to enjoy 7% CAGR from 2018 to 2023 (forecast period), predicts MRFR. It is driven by the need for hi-tech aircraft capable of integrating payload systems which can fire at ground targets with ease. Procurement of these systems coupled with change in compact weapon designs can drive the market demand. Furthermore, significant influx in the development of advanced systems can be monumental to the market.
Need for advanced systems such as thermally cooled infrared devices and infrared technologies is likely to create future growth opportunities within the targeting pods market. High demand for new warfare weapons can augment the market size significantly.
Technical limitations can pose a challenge to the market growth over the forecast period. But developments by government for manufacturing piezoelectric ceramic film strips can overcome this obstacle and create technological breakthroughs.
The targeting pods market is segmented on the basis of component, type, platform, and fit.
By component, the market comprises FLIR sensor, CCD camera, sensor, ECU, MMS, HD TV, and video datalink. The FLIR sensor segment can account for the largest market share due to high spending on aircraft with high attacking capabilities.
By type, it is segmented into laser spot tracker, laser designator, and FLIR. FLIR and laser designator pods are accounted for a large market share due to high need for infrared sensors and laser designators for targeting and surveillance.
By platform, it is segmented into unmanned aerial vehicles (UAV), helicopters, and combat aircraft. The combat aircraft is touted to be the biggest segment till the end of the forecast period. This can be attributed to schemes of developed and developing countries of increasing their aircraft numbers and amping up the strength of the aircraft fleet.
By fit, it is bifurcated into OEM fit and upgrade.
Geographically, the targeting pods market covers the latest trends and happenings across South America, North America, Europe, Asia Pacific (APAC), and the Middle East.
The Europe region can be the biggest revenue generator of the market due to high budgets of countries such as Russia, France, and the U.K. Need to upgrade defense equipment from legacy systems can drive the regional demand for targeting pods. Russia is touted to spend the maximum due to its plans for improving the performance of its air force.
The APAC region is the second largest due to need for targeting pods and ballooned defense budgets of developed economies. This can be credited to geopolitical tensions between China, India, South Korea, and others.
Lastly, the Middle East is expected to be a notable region due to plans of countries in the region to enhance their military strength. Agreements are commonly witnessed in the region as evident by the signing of a contract between Lockheed Martin and the Egyptian government. The latter will receive a Low Altitude Navigation and Targeting Infrared for Night (LANTIRN) targeting pod system which lets aircraft perform stealth missions at ease. The systems assists pilots to fly at low altitudes and effectively protect itself against ground weapons.
Prominent names in the targeting pods market include Ultra Electronics (U.K), Thales Group (France), Israel Aerospace Industries (Israel), Qioptik (Paris), Rafael Advanced Defense Systems Ltd. (Israel), Aselsan (Turkey), Flir Systems (U.S.), Raytheon Company (U.S.), L-3 Technologies (U.S.), Northrop Grumman (U.S.), Lockheed Martin (U.S.), MOOG Inc. (U.S.), and others.
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