A recent report published by Infinium Global Research on the targeting pods market provides an in-depth analysis of segments and sub-segments in the global as well as regional targeting pods market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional targeting pods market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global targeting pods market. According to the report, the global targeting pods market is projected to grow at a CAGR of 5.2% over the forecast period of 2020-2026.

Market Insight

The onset of the novel COVID-19 pandemic has had a negative impact on the global economy due to which, several industries witnessing negative growth in 2020. Additionally, the narrative is likely to remain the same within the defense sector. The pandemic is expected to affect the supply chains, business operations of several companies, and most importantly likely to dent the demand for defense equipment in the upcoming months. The demand from the aerospace and defense sector is expected to decline amid the ongoing COVID-19 pandemic particularly from countries that are under lockdown resulting influence the growth prospects of companies involved in the targeting pods market. Targeting pods are essential and critically important components, designed specifically for fighter aircraft. Targeting pods handles the most challenging precision targeting and intelligence, surveillance, and reconnaissance (ISR) air-to-air and air-to-ground missions in the sea, land, and air domains. It is located in both fixed-wing and rotary-wing fighter aircraft. It is consists of high resolution, 3rd generation FLIR, laser range finder/target designator, laser pointer, spot tracker, advanced video tracking, IR/day video & mission history recording and advanced image processing. Targeting pods plays a crucial rule in detecting and attacking targets during combat. Additionally, it also enhances the effectiveness and efficiency of laser-guided weapons.

The increasing inclination towards aircraft modernization, rise in sECUrity threats, technological advancement, and high demand for targeting pods form aerospace and defense sectors are the key factors driving the growth of the global targeting pods market over the forecast period. Further, Moreover, increasing spending by the government to strengthen their military and defense sector in countries such as the U.S., the U.K., Germany, China, India, and Saudi Arabia is likely to have a positive impact on market growth. For instance, September 2019, the government of India has finalized its plan to spend USD 130 billion in the next five to seven years to modernise the armed forces. However, the high cost associated with the development and maintenance of targeting pods is expected to hamper the market growth. The presence of a large number of well-established manufacturers in the global targeting pods market is focusing on the design, manufacture, and supply targeting pods across the globe. These factors are expected to create immense opportunities for the market during the forecast period. 

Among the region, Europe is accounted to hold maximum share in the global targeting pods market owing to the presence of well-established players such as Thales Group and Ultra Electronics Holdings plc. Additionally, increasing spending by countries such as the U.K. and France on the up-gradation of existing aircraft and new aircraft procurement programs is escalating to the growth of Europe targeting the pod market during the forecast period. The EU defense industry is important for the European economy. On the other side, North America is witnessing the second position in this market owing to the early adoption of technologically advanced products. The U.S. is accounted to hold the largest share owing to the presence of targeting pods manufacturers such as FLIR Systems, L-3 Communications, Northrop Grumman, and many others. Further, The Asia Pacific region is anticipated to grow at the highest CAGR throughout the forecast period. This is due to the development programs undertaken by governments of countries such as India and Thailand.

Segment Covered

The report on the global targeting pods market covers segments such as type, component, and platform. On the basis of type, the sub-markets include FLIR & laser designator pods, and laser spot trackers. On the basis of component, the sub-markets include CCD camera, thin-film preparation, MMS, ECU, HD TV, and video link. On the basis of the platform, the sub-markets include combat aircraft, helicopter, UAV, and other platforms.

Companies Profiled:

The report provides profiles of the companies in the market such as Northrop Grumman Corporation, L3 Technologies, Ultra Electronics Holdings, FLIR Systems, The Raytheon Company, Thales Group, ASELSAN A., and Other Companies.

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of targeting pods market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.