Wilmington, Delaware, Nov. 08, 2023 (GLOBE NEWSWIRE) -- Global Targeting Pods Market is valued at a market size of US$ 3.4 billion in 2023 and is expected to grow at a significant CAGR of over 5.8% over the forecast period of 2023-2030, according to the published market report by RationalStat
Market Definition, Market Scope, and Report Overview
Targeting pods, also known as target designation pods are sophisticated sensor systems that are typically mounted on military aircraft. These pods are designed to perform a range of functions related to target acquisition, tracking, and identification. They are essential tools in modern military aviation for enhancing the precision and effectiveness of airstrikes and reconnaissance missions.
Higher defense budgets in various countries, particularly in the United States, have led to increased investments in advanced targeting pod systems. Governments allocate funds to modernize their armed forces, including upgrading aircraft with the latest targeting pods.
- According to a deep-dive market assessment by RationalStat, the global targeting pods market has been analyzed on the basis of market segments, including type, fit, application and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the global targeting pods market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global targeting pods market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Targeting Pods Market: Segmental and Market Share Analysis
- On the basis of application, combat aircraft is expected to dominate the targeting pods market by application.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 3.4 billion |
| Market Size Forecast | US$ 5.1 billion |
| Growth Rate | 5.8% |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global targeting pods market include,
- In October 2023, Northrop teamed up with LIG Nex1. The collaboration focuses on targeting systems and airborne electronic welfare systems intended for Republic of Korea.
- In May 2020, Lockheed received a contract worth approximately US$485 million, to deliver Sniper Advanced Targeting Pod (ATP) and two other sensors to US military services and multiple other countries.
Some of the prominent players and suppliers operating and contributing significantly to the global targeting pods market growth include Lockheed Martin Corporation, Raytheon Technologies, Northrop Grumman, Thales, L3Harris Technologies, Israel Aerospace Industries, Rafael Advanced Defense Systems Ltd, ASELSAN A.Ş., Teledyne FLIR LLC, and Safran Group, among others.
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RationalStat has segmented the global targeting pods market based on type, fit, application and region
- Global Targeting Pods Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Type
- FLIR & Laser Designated Pods
- Laser Spot Tracker
- Others (Electro-Optical Sensor, etc.)
- Global Targeting Pods Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Fit
- OEM
- Upgrade
- Global Targeting Pods Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Application
- Helicopter
- Combat Aircraft
- UAV
- Others
- Global Targeting Pods Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
- North America Targeting Pods Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- US
- Canada
- Latin America Targeting Pods Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Targeting Pods Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Targeting Pods Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Targeting Pods Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Targeting Pods Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Targeting Pods Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
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Key Questions Answered in the Targeting Pods Report:
- What will be the market value of the global targeting pods market by 2030?
- What is the market size of the global targeting pods market?
- What are the market drivers of the global targeting pods market?
- What are the key trends in the global targeting pods market?
- Which is the leading region in the global targeting pods market?
- What are the major companies operating in the global targeting pods market?
- What are the market shares by key segments in the global targeting pods market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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