Targeting Pods Market Strategies and Statistics
Targeting Pods Market Size and Growth Rate:
The targeting pods market was valued at USD 3.06 Billion in 2016 and is projected to reach USD 5.6 Billion by the end of 2025, at a CAGR of 6.70% during the forecast period 2017-2025.
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Targeting Pods Market Overview:
Targeting pods can automatically detect, identify, designate and track small long-range or long-range tactical objectives, while providing superior air-to-air and air-to-ground capabilities. In addition, the guidance modules also support the use of GPS and laser-guided weapons against mobile targets and have been used in multinational aircraft and typhoons.
Targeting Pods Market Growth Drivers and Restraints:
It is estimated that the targeting pods market is gaining ground due to key factors such as high resolution, record of mission history, advanced image processing and high-density capabilities. In addition, high reliability, superior performance and maintenance capacity, as well as increased investments in the air force sector are other key factors that should drive the targeting pods marketduring the reporting forecast period. Also, safe and simplified training, nocturnal navigation capability, multiple objective tracking and precise stabilization are the factors that can stimulate the growth of the targeting pods market during the forecast period.
The increased spending on the modernization of existing aircraft and fighter jets, as well as supply programs for precision ground attack aircraft, will further increase the market growth during the forecast period. However, it is estimated that few problems related to the production of film strips constantly on the screen hamper the growth of the market during the forecast period.
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Targeting Pods Market Geographical Segmentation:
The European region is expected to dominate the market in the future, due to increased spending on advanced airborne targetingsystems from countries such as the United Kingdom, France and Russia, as well as upgrades and the acquisition of pod-based devices. The reason for the Russian domination of the European market can be attributed to the aircraft modernization programs in the country. The Asia-Pacific region ranks second in the targeting pods market after the European region due to the growing need for public security and increased defense budgets in developing countries.
Key Players of the Targeting Pods Market:
Some of the key players in theworld targeting pods market are Lockheed Martin (U.S.), Aselsan (Turkey), Thales Group (France), Raytheon Company (U.S.), Northrop Grumman (U.S.), L-3 Technologies (U.S.), Ultra Electronics (U.K), Israel Aerospace Industries (Israel), MOOG Inc. (U.S.), Flir Systems (U.S.), Rafael Advanced Defense Systems Ltd. (Israel), Qioptik (Paris), and so on.
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