Market Size of Targeting Pods Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 4.61 Billion |
| Market Size (2029) | USD 5.88 Billion |
| CAGR (2024 - 2029) | 4.98 % |
| Fastest Growing Market | North America |
| Largest Market | Europe |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Targeting Pods Market Analysis
The Targeting Pods Market size is estimated at USD 4.61 billion in 2024, and is expected to reach USD 5.88 billion by 2029, growing at a CAGR of 4.98% during the forecast period (2024-2029).
The value of military spending globally has grown steadily in the past years and reached USD 2.24 trillion in 2022. A large portion of the enhanced defense expenditure is directed toward the procurement of new-generation military combat aircraft and other aerial assets, thereby encouraging research and development (R&D) to enhance the current capabilities of the integrated targeting pods to attain tactical superiority over hostile forces by enabling long-range precision engagement.
Unanticipated economic fluctuations are anticipated to deter defense budget sanctions during the upcoming period to divert resources for other vital needs. Such disruptions may restrict the growth of the market. Furthermore, the development of long-range radars that can even detect stealth-enabled fifth-generation aircraft can effectively limit the scope of their application.
Targeting Pods Industry Segmentation
A targeting pod is used by a ground-attack aircraft to identify targets and engage them using precision-guided munitions in autonomous or assistive combat scenarios.
The targeting pods market is segmented by platform, fit, and geography. By platform, the market is segmented into combat aircraft, unmanned combat aerial systems, attack helicopters, and bombers. By fit, the market is segmented into OEM and retrofit. The report also covers the market sizes and forecasts for the aircraft targeting pods market in major countries across different regions. For each segment, the market size is provided in terms of value (USD).
| Platform | |
| Combat Aircraft | |
| Unmanned Combat Aerial Systems | |
| Attack Helicopters | |
| Bombers |
| Fit | |
| OEM | |
| Retrofit |
| Geography | |||||||
| |||||||
| |||||||
| |||||||
| |||||||
|
Targeting Pods Market Size Summary
The targeting pods market is poised for steady growth over the forecast period, driven by increased global military spending and the procurement of advanced military aircraft. This growth is fueled by the need for enhanced aerial combat capabilities and the integration of cutting-edge technologies to maintain tactical superiority. Major military powers, including the United States, China, and European nations, are investing heavily in the development and acquisition of fifth and sixth-generation combat aircraft, which necessitate advanced targeting systems. The market is characterized by significant procurement activities and long-term contracts, as countries strive to modernize their aerial fleets and enhance their defense capabilities in response to rising geopolitical tensions.
Despite the positive growth trajectory, the market faces challenges such as economic fluctuations and the development of advanced radar technologies that could limit the application of targeting pods. The market is semi-consolidated, with key players like Lockheed Martin, Northrop Grumman, and Teledyne FLIR leading the industry. These companies are focusing on product innovation and the integration of advanced technologies like infrared and FLIR systems to meet evolving defense requirements. However, stringent regulatory policies and economic conditions in dominant markets like the US may pose barriers to entry for new players and impact market dynamics. Overall, the targeting pods market is expected to experience moderate growth, driven by ongoing advancements in military technology and strategic defense investments.
Targeting Pods Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Market Overview
-
1.2 Market Drivers
-
1.3 Market Restraints
-
1.4 Porter's Five Forces Analysis
-
1.4.1 Bargaining Power of Suppliers
-
1.4.2 Bargaining Power of Buyers/Consumers
-
1.4.3 Threat of New Entrants
-
1.4.4 Threat of Substitute Products
-
1.4.5 Intensity of Competitive Rivalry
-
-
-
2. MARKET SEGMENTATION
-
2.1 Platform
-
2.1.1 Combat Aircraft
-
2.1.2 Unmanned Combat Aerial Systems
-
2.1.3 Attack Helicopters
-
2.1.4 Bombers
-
-
2.2 Fit
-
2.2.1 OEM
-
2.2.2 Retrofit
-
-
2.3 Geography
-
2.3.1 North America
-
2.3.1.1 United States
-
2.3.1.2 Canada
-
-
2.3.2 Europe
-
2.3.2.1 United Kingdom
-
2.3.2.2 France
-
2.3.2.3 Germany
-
2.3.2.4 Russia
-
2.3.2.5 Rest of Europe
-
-
2.3.3 Asia-Pacific
-
2.3.3.1 China
-
2.3.3.2 India
-
2.3.3.3 Japan
-
2.3.3.4 South Korea
-
2.3.3.5 Rest of Asia-Pacific
-
-
2.3.4 Latin America
-
2.3.4.1 Brazil
-
2.3.4.2 Rest of Latin America
-
-
2.3.5 Middle East and Africa
-
2.3.5.1 United Arab Emirates
-
2.3.5.2 Saudi Arabia
-
2.3.5.3 Israel
-
2.3.5.4 Rest of Middle East and Africa
-
-
-
Targeting Pods Market Size FAQs
How big is the Targeting Pods Market?
The Targeting Pods Market size is expected to reach USD 4.61 billion in 2024 and grow at a CAGR of 4.98% to reach USD 5.88 billion by 2029.
What is the current Targeting Pods Market size?
In 2024, the Targeting Pods Market size is expected to reach USD 4.61 billion.
