Since the use of carpet bombing, which resulted in unintended civilian causalities, there was a clear need for increased precision of bombing to get a higher efficiency and effectiveness of an operation. The intended result was to effectively neutralize targets with minimal firepower. During the 2nd World War, the pilots used to mathematically calculate the time of release of the bomb, however this was not very effective. This resulted in the emergence of the Targeting Pod Market.
The digital battlefield has become a force multiplier in the 21st century that has reshaped how military forces around the globe prepare for and overcome regional and international competitors' issues. Targeting Pods, having become beneficial, interlinked nodes in the field with all-new tactical abilities, have not escaped the significant impacts of digitalization. The number of advanced targeting pod systems has increased over the last decade as defence departments aim to build their armed forces lighter, faster, and ready to deploy. The military and defence sector worldwide is demanding an elevated need to implement an advanced targeting pod (TGP) to provide identification of targets and allow for more reliably planned releases of weapons without the assistance of external off-board tools.
Variables such as focusing on improving frontlines situational awareness and increasing occurrences of asymmetric and network-centered warfare have a major positive impact on the targeting pod market. Moreover, the increase in defence spending, particularly in emerging economies, and subsequent investments in the procurement of such systems are further boosting the growth of the market. Factors such as cost of equipment, obsolete platforms, and technological advancements in munitions, however, hinder the growth of the market to some extent. Increasing terrorist attacks and a focus on counter operations, and the launch of military modernization programs by many nations around the world, have created promising opportunities for the targeting pod market to grow.
The market revenue for Global Targeting Pods is USD 3.54 Billion in the year 2020 and it is anticipated to reach a value of around USD 6.22 Billion by the year 2028. The market growth dynamics account for a CAGR of around 7.06% during the forecast period, 2020-2028.
APAC is expected to dominate the global market with a market value of around USD 2.62 billion owing to the increasing R&D investment in this sector coupled with an infrastructure that supports the same. The rising global conflicts and cross-border tension between countries including China, India, Pakistan, and Others in the APAC region is another factor that is expected to fuel the growth of the Global Targeting Pod Market. North America is expected to be the second-largest market with a value of around USD 1.83 Billion. APAC is expected to be the fastest-growing market over the forecast period with a CAGR of around 8.66%.
The report is aimed at:
- The key drivers, restraints, and challenges which are expected to shape the Global Targeting Pod Market are covered in detail in the report.
- The key technologies which could have an impact on the Global Targeting Pod Market have been covered in detail.
- The top ten countries have been analyzed in detail concerning its total air fleet and Import and Export trade.
- The Porter’s Five Forces and the PEST Analysis of the Global Targeting Pod Market have been covered in the report.
- The high growth markets have been identified in the Opportunity Analysis Chapter.
- The market has been forecasted from 2020- 2028 considering all the factors, which are expected to impact the market.
- The Scenario Analysis Chapter covers the key scenarios and their impacts on the forecast chapter.
Segmentation covered in this reportThe market is segmented based on Region, Platform, Type, Fitment, and Components:
- North America
- Middle East
- Fighter Aircraft
- Attack Rotary Platforms
- Unmanned Aerial Vehicles (UAVs)
- FLIR and Laser Designator Pod
- Laser Designator Pod
- FLIR Pod
- Line Fit
- Retro Fit
- Sensors (FLIR and Laser Designators)
- Charged Coupled Device (CCD) Camera
- Environmental Control Unit (ECU)
- Moving Map Systems (MMS)
- Video Datalinks
- Digital Data Recorder
- Image Processors
- Display Systems
- Saudi Arabia
- United Kingdom
Reasons to buy
- The new players in the Global Targeting Pod Market and the potential entrants into this market can use this report to understand the key market trends that are expected to shape the market in the next few years.
- The Market Analysis Chapter covers the Key Drivers, Restraints, and Challenges of the Targeting Pod technology. The PEST and Porter’s five forces are covered in detail in this report.
- The key technologies that could impact the Global Targeting Pod Market have been covered in detail.
- The report can be used by the sales and marketing team to formulate their medium- and long-term strategies and to reconfirm their short-term plans.
- The forecast chapter would help the sales team to formulate their medium-term sales plan.
- The report would help the sales and the marketing team to understand the key segments across the top ten countries which have been analyzed in the report.
- The Opportunity Analysis chapter identifies the key hot spots within the Global Targeting Pod Market.
- The company profiles include financials, latest news, and SWOT analysis for ten companies.
Who is this report for?Financial Institutions: Financial institutions such as financial intermediaries and banking institutions can use this report to assess their financing or investment strategies.
Department of Defense: Defense department and other Governmental Organizations involved with the research and development of defense strategies using Targeting Pod can use this report to support their research.
Department of Information Technology: The Department of Information Technology could use this report to understand various technical indicators of the top ten countries. This would give them an overall perspective of potential markets.
Decision Makers: The future investment and technology focus decisions could be formulated based on the inputs of this report.Other Organizations: Various other NGO and Non- Governmental organizations involved with the research of the development department for upcoming technologies can use this report to support their research.