Global Targeting Pods Market Report | Triton Market Research

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Targeting Pods Market Growth Analysis
2023-2030 Triton Market Research presents the
Global Targeting Pods Market report segmented by
Application (Bombers, Fighter Aircraft, Unmanned
Aerial Vehicles, Attack Rotary Platforms), Size
(Retro Fit, Line Fit), Pod Class (Laser
Designator Pods, FLIR and Laser Designator Pods,
FLIR Pods), Component (Moving Map System,
Sensors, Display System, Connectors,
Environmental Control Units, Video Datalinks,
Charged Coupled Device Camera, Image Processors,
Digital Data Recorder), and Regional Outlook
(Latin America, North America, Middle East and
Africa, Asia-Pacific, Europe).
The report further includes the Market Summary,
Industry Outlook, Impact of COVID-19, Key
Insights, Porters Five Forces Analysis, Market
Attractiveness Index, Vendor Scorecard, Industry
Components, Regulatory Framework, Key Market
Strategies, Drivers, Challenges, Opportunities,
Competitive Landscape, Research Methodology
Scope, Global Market Size, Forecasts Analysis
(2023-2030). According to Tritons research
report, the global targeting pods market is
expected to witness revenue growth at a CAGR of
6.30 during the forecast period
2023-2030. Targeting pods refer to tools that
help identify and attack targets via
precision-guided weapon systems, including laser
bombs. The markets growth is supported by the
rising demand for aircraft modernization, a surge
in government spending in the defense industry,
and border disputes. Several governments have
increased defense spending over the years. For
instance, the Indian government announced around
2
INR 5.94 trillion for defense spending in 2023.
Such steps are anticipated to elevate the
adoption of targeting pods in combat operations,
thereby driving the markets growth. However, the
high maintenance and installation costs, coupled
with regulations against the import and export of
defense goods, restrict the targeting pods
markets development. The Asia-Pacific is
estimated to emerge as the fastest-growing region
over the forecast period. In China, the armed
forces are focused on the production of
long-range surveillance systems. In this regard,
the C4ISTAR system helps improve combat
performance, strengthening the airfields. The
country has also introduced the fifth-generation
fighter J-20 jet, marking an essential step in
the expansion of the aerospace and defense
industry. Hence, all these factors are expected
to drive the targeting pods market. The notable
companies in the targeting pods market include
Northrop Grumman, BAE Systems Plc, Thales Group,
L3 Technologies Inc, Israel Aerospace Industries
Ltd, Lockheed Martin Corporation, Saab AB, The
Raytheon Company, FLIR Systems, and QI Optik. The
threat of new entrants in the market is lower to
medium owing to cost intensity. Moreover,
suppliers experience strong brand equity. The new
players require high investment in research and
development of these pods, which further
restricts their growth. Further, established
players are striving to improve their market
position with technological advancements, which
will increase the competition level over the
forecast period.