Market Insights
The targeting pods market was estimated at USD 3.46 billion in 2022 and is likely to grow at a CAGR of 7.17% during 2023-2028 to reach USD 5.26 billion in 2028.
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What are targeting pods?
Targeting Pods are tools to identify targets and guide precisely through options such as lasers for the bombing. These pods are available in different types such as FLIR designator, laser designator, and laser spot tracker.
Targeting Pods have a number of components for the action to take place such as a FLIR sensor, environmental control unit, video datalink, processor, charge-coupled device, moving map system, digital data recorder, and high-definition TV. These are of high usage in the case of combat aircraft, attack helicopters, unmanned aerial vehicles, and bombers.
Market Dynamics
The unprecedented growth of the market can be ascribed to the rising military aircraft procurement along with the upgradation of prevalent aircraft across the globe. The escalating military aircraft procurement by different countries has triggered off an upsurge in the demand for aircraft payload-based targeting systems, i.e. targeting pods for capability improvement in precision targeting.
Targeting Pods Market Highlights
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Market Size in 2022
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USD 3.46 billion
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Market Size in 2028
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USD 5.26 billion
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Market Growth (2023-2028)
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7.17% CAGR
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Base Year of Study
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2022
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Trend Period
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2017-2021
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Forecast Period
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2023-2028
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Segments' Analysis
By Type
Based on the type, the market is segmented as FLIR & laser designator pods, laser designator pods, FLIR pods, and laser spot tracker pods. The FLIR & laser designator pods segment is estimated to remain dominant during the forecast period. The growing application of forward-looking infrared sensors, along with laser designators for targeting and surveillance, is driving the growth of the segment.
By Component Type
Based on the component type, the market is segmented as FLIR sensor, Charge Coupled Device (CCD) Camera, Environmental Control Unit (ECU), Moving Map System (MMS), video datalink, digital data recorder, processor, and high definition (HD) TV. The FLIR sensor segment is expected to remain dominant in the coming five years. The market is driven by the rise in spending on aircraft with precision attack capabilities under low light conditions.
By Fit Type
Based on the fit type, the market is segmented as OEM fit and upgradation. The OEM fit segment is estimated to lead the market during the forecast period due to the growth in expenditure on airborne targeting and laser designation systems.
By Platform Type
Based on the platform type, the market is segmented as combat aircraft, unmanned aerial vehicle (UAV), attack helicopters, and bombers. The combat aircraft segment is expected to be dominant during the forecast period, sustained by the rise in expenditure on the upgradation of prevalent aircraft and new aircraft procurement programs, primarily for precision ground attack capabilities. The UAVs segment is estimated to depict the highest growth in the coming five years, owing to the rise in spending on reconnaissance and surveillance operations.
Regional Insights
In terms of regions, Europe is estimated to be the largest market for targeting pods during the forecast period, followed by Asia-Pacific and North America. Europe’s large share can be ascribed to the rising expenditure on advanced airborne targeting systems by economies, such as the UK, France, and Russia, and the upgradation and procurement of targeting pod-based aircraft. Russia was expected to emerge as the leading market for targeting pods in Europe during the forecast period. The prime reason for Russia’s dominance of the European targeting pods market is owing to the country’s aircraft upgradation programs. North America and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.
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Market Segmentation
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The market is segmented into the following categories.
By Type
- FLIR & Laser Designator Pods
- Laser Designator Pods
- FLIR Pods
- Laser Spot Tracker Pods
By Component Type
- FLIR Sensor
- Charge Coupled Device (CCD) Camera
- Environmental Control Unit (ECU)
- Moving Map System (MMS)
- Video Datalink
- Digital Data Recorder
- Processor
- High Definition (HD) TV
By Fit Type
By Platform Type
- Combat Aircraft
- Unmanned Aerial Vehicle (UAV)
- Attack Helicopters
- Bombers
By Region
- North America (Country Analysis: the USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
- Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
- Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)
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Key Players
Some of the major players in the market are-
- Aselsan Corporation
- FLIR Systems
- Israel Aerospace Industries
- Lockheed Martin Corporation
- L-3 Communications
- Northrop Grumman Corporation
- Raytheon Company
- Rafael Advanced Defense Systems Ltd.
- Ultra Electronics Holdings
Research Methodology
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.
We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market Trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
Report Features
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Market Segmentation
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5
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Regions Covered
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4
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Countries/Sub-Regions Covered
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15
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No. of Figures & Tables
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>150
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Company Profiles
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10
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Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
- Detailed profiling of additional market players (up to 3 players)
- SWOT analysis of key players (up to 3 players)
Market Segmentation
- Current market segmentation of any one of the types by platform type.
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
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