Dublin, Jan. 24, 2024 (GLOBE NEWSWIRE) -- The "Targeting Pods Market Report 2023-2033" has been added to ResearchAndMarkets.com's offering.
World revenue for the Targeting Pods Market was forecast to surpass US$5.2 billion in 2023, with strong revenue growth through to 2033.
High Costs and Maintenance Issues of Targeting Pods Anticipated to Restrain Industry Growth
Targeting devices can monitor and engage both stationary and mobile ground targets. Due to its capabilities, a targeting pod is a crucial piece of equipment for fighter aircraft during combat missions. The deployment of targeting devices on fighter aircraft is expensive. The cost of a targeting module is roughly $3 million. Moreover, maintenance and repair costs for targeting modules are extremely expensive. This factor may impede the global market for targeting pods during the projected time frame.
Military Budget Allocation Across Nations Likely to Challenge Industry Growth
Government and defence agencies of major and emerging countries in the targeting pods industry are highly focused on investing substantial funds, efforts, and time on research and development activities to develop advanced, scalable, and cost-effective targeting pods that can meet the evolving needs of military forces worldwide. For example, the Japanese Defence Ministry announced plans to increase research and development efforts in order to develop high output military laser weapons capable of identifying and destroying low-flying adversary drones. In addition, the defence departments of superpowers and emerging nations are expanding their existing research and development networks and establishing new research and development units in order to increase their capacity to develop NextGen weapons and systems in accordance with contemporary warfare tactics.
Key Market Dynamics
Market Driving Factors
- Advancements in Optical Electro-targeting Systems Projected to Boost Industry Growth
- Enhanced Target Acquisition and Identification Anticipated to Spur Industry Growth
- Integration of Artificial Intelligence and Machine Learning to Boost Industry Growth
- Conflicts Between Nations Projected to Drive Market Growth
Market Restraining Factors
- High Costs and Maintenance Issues of Targeting Pods Anticipated to Restrain Industry Growth
- Military Budget Allocation Across Nations Likely to Challenge Industry Growth
Market Opportunities
- Emerging Economies Anticipated to Offer Lucrative Growth Opportunities
- Improved Close Air Support (CAS) and Joint Terminal Attack Controller (JTAC) Interaction
- Cost-efficient and Sustainable Operations Anticipated to Offer Lucrative Growth Prospects
- Integration with Next-Generation Aircrafts to Offer Lucrative Growth Prospects for Market Players
Forecasts to 2033 and other analyses reveal commercial prospects
- In addition to revenue forecasting to 2033, the new study provides you with recent results, growth rates, and market shares.
- You will find original analyses, with business outlooks and developments.
- Discover qualitative analyses (including market dynamics, drivers, opportunities, and restraints), Porter's Five Forces Analysis, PEST Analysis and recent developments.
Segments Covered in the Report
Platform
- Combat Aircraft
- Unmanned Aerial Vehicles (UAVs)
- Attack Helicopters
- Bombers
- Others
System
- FLIR Sensor
- Charge Coupled Device (CCD) Camera
- Environmental Control Unit (ECU)
- Moving Map System (MMS)
- Digital Data Recorder
- Others
Fit
- OEM Fit
- Upgradation
The report also includes profiles of the following leading companies, with a focus on this segment of these companies' operations:
- ASELSAN AS
- Excelitas Technologies Corp. (QI Optik)
- IAI Group
- L3Harris Technologies Inc.
- Lockheed Martin Corporation
- MOOG Inc.
- Northrop Grumman Corporation
- Rafael Advanced Defense Systems Ltd.
- Raytheon Technologies Corporation
- Thales Group
- Teledyne FLIR LLC
- Ultra Electronics
- Xi'an Supersonic Aviation Technology Co., Ltd.
In summary, the report provides you with the following knowledge:
- Revenue forecasts to 2033 for Targeting Pods Market 2023 to 2033, with forecasts for platform, system, and fit, each forecast at a global and regional level - discover the industry's prospects, finding the most lucrative places for investments and revenues.
- Revenue forecasts to 2033 for five regional and 21 key national markets - See forecasts for the Targeting Pods Market, 2023 to 2033 market in North America, Europe, Asia-Pacific, Latin America, and MEA. Also forecasted is the market in the US, Canada, Mexico, Brazil, Germany, France, UK, Italy, China, India, Japan, and Australia among other prominent economies.
- Prospects for established firms and those seeking to enter the market - including company profiles for 13 of the major companies involved in the Targeting Pods Market, 2023 to 2033.
For more information about this report visit https://www.researchandmarkets.com/r/fehcz6
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