The report on Targeting Pods to be published by Stratview Research focusses on current trend insights and also predicts about the market condition and its future in the forecast period of 2020 – 2025.

Feb 05, 2021/IndustryNewsGlobal/ -- Targeting Pods Market is likely to witness an impressive CAGR of 7.2% during the forecast period. 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 system, i.e. targeting pods for capability improvement in precision targeting.

By Type Segment

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 Segment

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 Segment

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 the 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 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.

Region Wise Segment

In terms of regions, Europe held the largest share of the targeting pods market in 2018, 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 upgradation and procurement of targeting pod-based aircraft. Russia was expected to emerge out as the leading market for targeting pods in Europe in 2018. 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.

Some of the major players in the targeting pods 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., and Ultra Electronics Holdings.