Targeting Pods Market 2018: Global Industry Analysis and Opportunity Assessment, Forecast to 2023

Targeting pods are an electronic device used by ground-attack aircraft for identifying targets and guiding Precision-Guided Munitions (PGM), such as laser-guided bombs to those targets. This will benefit the air-to-ground attacks in autonomous or cooperative mode, using integrated laser spot tracker and laser market. The increasing military aircraft procurement by various countries has led to an increase in the demand for aircraft payload-based targeting system, which are targeting pods, for capability enhancement in precision targeting. Therefore, significant investment has been made on the development of the targeting pods design, which would witness a rapid growth during the forecast period. However, major restraint of the market is the technical constraints of manufacturing targeting pods. To overcome the manufacturing issues, the Russian Air Force made a breakthrough in manufacturing piezoelectric ceramic film strips, leading to a breakthrough in building targeting pods.

The increased need for futuristic technologies, such as infrared technologies, thermally cooled infrared devices, and forward-looking infrared technology, will enable the manufacturers to offer new growth opportunities for the market players. The factors responsible for the growth of the globally targeting pods market are the increasing military aircraft procurement and upgrades of existing aircraft across the world.

Recently, Northrop Grumman signed a contract with the U.S. military to modernize the latter’s advanced targeting systems. These upgrades would improve the range and resolution capabilities of targeting pods. Similarly, Ultra Electronic Holdings Plc signed a contract with the U.K Eurofighter Typhoon aircraft to provide airborne laser targeting pods.

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Global Targeting Pods Market, By Segmentation

The globally targeting pods market has been segmented into type, component, platform, fit, and region. Based on type, the FLIR & Laser designator pods segment is widely used and comprises the largest share in the market due to increasing use of forward-looking infrared sensors, along with laser designators for targeting and surveillance. Based on the component segment, the FLIR sensor segment is expected to have the largest demand in the targeting pods market during the forecast period due to increased spending on aircraft with precision attack capabilities in low light conditions. Based on platform, the combat aircraft segment has the largest demand in the targeting pods market due to the increased spending on upgrading existing aircraft and new aircraft procurement programs, especially for precision ground attack capabilities. Among fit segment, OEM has the largest demand in targeting pods market due to increased spending on airborne targeting and laser designation systems.

On the basis of region, the market is segmented into North America, Asia Pacific, Europe, the Middle East, and South America. The Europe region is expected to dominate the market in the future, due to increased spending on advanced airborne targeting systems by countries, such as the U.K, France, and Russia and the upgrades and procurement of targeting pod-based aircraft. The reason for Russia’s dominance in the Europe targeting pods market can be attributed to the country’s aircraft upgrades programs. Asia Pacific region is second to the European region in the global targeting pods market due to the increasing need for public safety and increased defense budgets of developing countries. For instance, Egypt has signed an agreement with Lockheed Martin to provide Low Altitude Navigation and Targeting Infrared for Night (LANTIRN) navigation and targeting pod system that allows the host aircraft to fly at low altitudes, at night and under-the-weather to attack ground targets with a variety of precision-guided weapons. The system comprises the AN/AAQ-13 navigation pod and AN/AAQ-14 targeting pod. Thus, the global targeting pods market is estimated to witness approximately 7% CAGR from 2018 to 2023.

Key Players

The key players in the global targeting pods market are Lockheed Martin (U.S.), Aselsan (Turkey), Thales Group (France), Raytheon Company (U.S.), Northrop Grumman (U.S.), L-3 Technologies (U.S.), Ultra Electronics (U.K), Israel Aerospace Industries (Israel), MOOG Inc. (U.S.), Flir Systems (U.S.), Rafael Advanced Defense Systems Ltd. (Israel), and Qioptik (Paris).

The report for Global Targeting Pods Market of Market Research Future comprises extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economic and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

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