Government Agencies Strengthening Stakes in Targeting Pods Market to Modernize Precision-Guided Munitions, Market to Garner CAGR of ~5% from 2019 to 2027 - TMR

ALBANY, N.Y., Dec. 22, 2020 /PRNewswire/ -- Targeting pods are increasingly being integrated with combat aircrafts by militaries around the world. Advances in optical targeting pods (OTPs) have paved way to the deployment of precision targeting system. Particularly, the demand for laser-guided weapons is expected to rise. Manufacturers of defense aircrafts and aerospace companies are collaborating on electro-optical sighting for targeting daytime and infrared-sighting during night time. OTPs equipped with features notably laser designators, electro-optics, and infrared radars. Apart from being deployed in aircrafts, targeting pods are also deployed in unmanned aerial vehicles.

Rise in aerospace and defense budgets has moved the cursor to advancing guided munitions, expanding the horizon in the targeting pods market, opine analysts at TMR.

By 2027-end, the market is expected to spawn revenue of ~US$ 4 Bn. Optical electro-targeting systems have come a long way and will continue to gain attention by defense contractors and aerospace companies in numerous developing and developed nations.

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Key Findings of Targeting Pods Market

• North America expected to hold substantial revenue share in global targeting pods market
• Presence of numerous well-entrenched players in the U.S. makes North America increasing attractive
• The buyers' bargaining power is moderate
• Optical electro-targeting systems have witnessed rapid advances
• Market to projected to clock CAGR of ~5% during 2019–2027 globally

Analyze global targeting pods market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study

Targeting Pods Market: Key Driving Factors and Promising Avenues

• The deployment of optical targeting pods (OTPs) in combat aircrafts has opened a new avenue in the targeting pods market. Aerospace companies and defense contractors have been harnessing the technological potential of optical electro-targeting systems in supporting the governments' initiative in modernizing weaponry.
• The defense budgets in numerous countries have risen on the back of efforts to meet the requirements of modern combat and warfare in the wake of rising geopolitical tensions between countries.
• In recent years, precision in targeting munitions has become a high sought-after functionality. This is also a key driver for technological advancements in the targeting pods market.
• Growing number of trial runs of new targeting pods technology has spurred the revenue potential in the targeting pods market.
• In the wake of Covid-19, the manufacturing sector has been severely impacted around the world, including the manufacturing of defense aircrafts. However, companies where a large part of the manufacturing is automated are able to overcome the constraints of supply side faster than their counterparts are. This is a promising trend.
• Expansion of product range by globally well-established companies has spurred the growth potential of the market.
• In recent years, defense contractors in key countries have been able to bag some lucrative contract of government of other countries. This will undoubtedly expand the opportunity in the targeting pods market.

Explore 234 pages of top-notch research, incisive insights, and detailed country-level projections on Targeting Pods Market (Type: FLIR & Laser Designator Pods and Laser Spot Trackers; Component: CCD Camera, Thin-film Preparation, MMS, ECU, HD TV, and Video Link; Platform: Combat Aircraft, Helicopter, UAV, and Others; and Installation: OEM and Aftermarket) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027 at https://www.transparencymarketresearch.com/targeting-pods-market.html

Targeting Pods Market: Regional Growth Dynamics

North America has proved to a highly lucrative regional market. The presence of companies who develop components for advanced precision-guided munition is a key factor. Another trend fueling the growth of the regional market is the rapid uptake of advanced electro-optical targeting capability, especially by the U.S. military. Some of the market participants in the region are Lockheed Martin, L-3 Communications, and Flir Systems.

Targeting Pods Market: Competitive Dynamics

Degree of competition is moderate. Also, the bargaining power of buyers is moderate. Top players are leaning on expanding their portfolio to consolidate their shares in the targeting pods market. Some of the top players in the market are Thales Group, Raytheon Company, Rafael Advanced Defense Systems Ltd., Northrop Grumman, and Lockheed Martin.

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Global Targeting Pods Market: Segmentation

Targeting Pods Market, by Type

• FLIR & Laser Designator Pods
• Laser Spot Trackers
• S-type
• Pancake
• Miniature
• Beam/Bending

Targeting Pods Market, by Component

• CCD Camera
• Thin-film Preparation
• MMS
• ECU
• HD TV
• Video Link

Targeting Pods Market, by Platform

• Combat Aircraft
• Helicopter
• UAV
• Others

Targeting Pods Market, by Installation

• OEM
• Aftermarket

Targeting Pods Market, by Region

• North America
• U.S.
• Canada
• Mexico
• Europe
• EU5
• BENELUX
• Nordic
• Russia
• Poland
• Rest of Europe
• Asia Pacific (APAC)
• China
• India
• Japan
• South Korea
• ASEAN
• Australia & New Zealand
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• GCC
• South Africa
• North Africa
• Israel
• Rest of Middle East & Africa
• South America
• Brazil
• Argentina
• Rest of South America

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