PUBLISHER: SkyQuest | PRODUCT CODE: 1322002
PUBLISHER: SkyQuest | PRODUCT CODE: 1322002
Targeting Pods Market size was valued at USD 4.11 billion in 2021 and is poised to grow from USD 4.46 billion in 2022 to USD 8.64 billion by 2030, growing at a CAGR of 8.6% in the forecast period (2023-2030).
The Global Targeting Pods market is witnessing significant growth due to the increasing demand for electronics and communication devices. These assemblies are essential components in various industries, including automotive, aerospace, and consumer electronics. Factors such as the rise in disposable income, technological advancements, and the growing trend of automation are driving market expansion. Additionally, the adoption of high-speed data transmission and communication technologies further boosts the demand for cable assemblies across diverse applications worldwide.
Top-down and bottom-up approaches were used to estimate and validate the size of Targeting Pods and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Segments covered in this report:
The Targeting pods is segmented into the on the basis of type, Fit, Component, Platform, and region. Whereas, by type it is segmented into FLIR, laser designator, and laser spot tracker. By Fit Targeting Pods Market is sub segmented into OEM and upgrade types. By Component Targeting Pods Market is sub segmented into FLIR segment, CCD Camera, MMS, ECU, HD TV, and Video Datalink. By Platform is sub segmented into combat aircraft, helicopters, and UAVs. Region is classified into North America, Asia Pacific, Europe, MEA, and Latin America.
Driver
The targeting pod is an electronic device designed to identify and direct munitions to ground targets, particularly at low altitudes, supporting ground attack operations. The growing global demand for enhanced air force defense systems is expected to drive the market for targeting pods. As infrared technologies gain popularity, companies producing infrared devices and innovative technologies are presented with new opportunities, fostering growth for market players. The key requirement for targeting pod providers is to develop pods that perform effectively in low light and adverse weather conditions.
Restrain
However, several factors are likely to impede the growth of the targeting pod market. These include the considerable costs associated with development and maintenance, as well as the reduction in defense spending in developed countries. Additionally, the stringent government regulations pertaining to the import and export of defense articles may have a negative impact on the market.
Trend
Targeting pods are widely utilized in combat missions for ground surveillance and target engagement. They are deployable on various platforms, such as fighter aircraft, helicopters, and unmanned aerial vehicles. Advancements in technology continually shape targeting pod capabilities, ensuring they meet the demands of complex combat missions. Prominent manufacturers, including Northrop Grumman Corporation, Thales Group, and Raytheon Company, continuously upgrade their targeting pods to cater to the technological requirements of air force agencies worldwide.