Targeting Pods Market Analysis Report By Type, By Component, By Fit, By Platform, By Region And Segment Forecasts From 2017 To 2025

Industry Insights

The global targeting pods market size was valued at USD 3.07 billion in 2016. It is projected to witness a 6.3% CAGR over the forecasted years, 2017 to 2025. The rising demand for technologically advanced targeting systems is expected to boost the market growth for targeting pods. Further, the rising number of terrorist activities, illegal immigration, and human trafficking is anticipated to generate demand for such devices across the globe.

Technologically advanced pods having features like integrated GPS, that can permit users to gain the precise location of the targets and can allow sharing and storing of data through wireless and wired connections. Also, their ability to store clear target images is anticipated to widen its usage in the upcoming years.      

These pods come with the capability of GMTI (Ground Moving Target Indication) that permits users to detect vehicles that are moving on the ground. Also, they are equipped with features that can distinguish between unmoving and moving objects and can record the mission history. But, high costs associated with these products and strict rules and regulations being imposed by governing bodies over cargo movement of these defense systems are expected to pave the way for market demand for such products.

Type Insights

The laser designator pods segment held the largest share across the global market in 2016. This can be attributed to their features like longer-range surveillance, the capability of laser illumination, and the adoption of AVT (Advanced Video Tracker) technology. Also, the ability to capture real-time information about targets is anticipated to augment the targeting pod's market growth.

The segment of FLIR & laser designator pods is anticipated to register the highest CAGR from 2017 to 2025. This can be attributed to its features like gaining information about geolocation coordinates coupled with the options of manual control to enhance accuracy. Also, the adoption of technologies like plug-n-play interface, target recognition, and target tracker is estimated to propel market growth.

Fit Insights

The OEM fit segment is gaining traction across the globe. This can be associated with the rising investments in defense, the need for ensuring safety prevailing among several nations, and technological advancements being undertaken by the key players. Also, the launching of technologically advanced systems like FLIR Exx-Series which comes with features like laser-assisted autofocus and Wi-Fi connectivity is projected to propel the market growth over the forecasted years, 2017 to 2025.

The upgrade segment also accounts for a significant share across the global market in 2016. This can be associated with the increasing number of post-sales services being offered by the pod providers. Moreover, the feature of up-gradation based on customer requirement is expected to trigger the market growth for this segment in the upcoming years.

Component Insights

The FLIR sensors segment is anticipated to register the fastest growth over the forecasted period, 2017 to 2025. This can be attributed to its functionalities like BDA (Battle Damage Assessment) and GUI control. Further, features like detection of targets in foggy climate and assessment of damaged targets are anticipated to boost the targeting pod market growth for this segment.

Moving Map Systems (MMS) is also projected to gain traction in the upcoming years. This can be associated with its surging usage across industrial sectors like automotive, naval, and aviation. Moreover, benefits like real-time tracking of location and HD color display are expected to augment the market growth.

Platform Insights

In 2016, the combat aircraft platform segment accounted for the highest share across the global targeting pod market. This can be associated with its features like inbuilt radar, stealth built, and heavy payloader. Further, the ability to assist the pilot with its laser rangefinder for calculating the distance of the target is estimated to drive the market growth for this segment.

The platform segment of the unmanned aerial vehicles (UAV) is expected to register the fastest growth in the upcoming years. This can be attributed to the surging adoption of such UAVs in disaster management, surveillance, and operations related to law enforcement. Moreover, benefits like enhanced profitability, battery life, and cost-efficiency are anticipated to trigger its demand.

Regional Insights

In 2016, Europe accounted for the highest share across the global market. This can be associated with the surging number of key players like Ultra Electronics Holdings Plc. and Thales Group across this region. Further, rapid technological advances being undertaken by the key players residing across this region are projected to propel the market demand for targeting pods.

The Asia Pacific is projected to register significant growth in the upcoming years. This can be attributed to the due to the increasing awareness regarding public safety prevailing across developing countries like India and China. Also, several programs and initiatives being undertaken by the statutory governing bodies for development are expected to contribute towards the market growth.

COVID-19 Impact Insights

The global market is anticipated to grow significantly due to the ongoing COVID-19 crisis. The emergence of international political tensions due to international trade restrictions and the imposition of lockdown is expected to drive the demand for targeting pods. Further, factors such as lack of unemployment and economic recession across various industrial sectors have increased the cases of crimes, security breaches, and human trafficking. Thus, the need for targeting pods is being foreseen over the post-pandemic period.

Targeting Pods Market Share Insights

The global market includes key players such as Thales Group; ASELSAN A.S.; Raytheon Company; FLIR Systems, Inc.; L3 Technologies, Inc.; and Ultra Electronics Holdings Plc. They are constantly engaged in product development and innovation to gain a competitive advantage over other players.

Strategies like acquisitions and mergers are being undertaken by these players for widening their product portfolio and geographical reach. For example, FLIR Systems Inc. has gained acquisition over Prox Dynamics in 2016 that was aimed at boosting the sales of surveillance products.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends from 2014 to 2025 in each of the sub-segments. For the purpose of this study, Million Insights has segmented the global targeting pods market on the basis of type, component, fit, platform, and region:

• Type Outlook (Revenue, USD Million, 2014 - 2025)
    • FLIR & Laser Designator Pods
    • Laser Designator Pods
    • FLIR Pods
    • Laser Spot Tracker Pods

• Component Outlook (Revenue, USD Million, 2014 - 2025)
    • FLIR Sensor
    • Charge Coupled Device (CCD) Camera
    • Environmental Control Unit (ECU)
    • Moving Map System (MMS)
    • Video Datalink
    • Digital Data Recorder
    • Processor
    • High Definition (HD) TV

• Fit Outlook (Revenue, USD Million, 2014 - 2025)
    • OEM Fit
    • Upgrades

• Platform Outlook (Revenue, USD Million, 2014 - 2025)
    • Combat Aircraft
    • Unmanned Aerial Vehicle (UAV)
    • Attack Helicopters
    • Bombers

• Regional Outlook (Revenue, USD Million, 2014 - 2025)
    • North America
        • The U.S.
        • Canada
    • Europe
        • France
        • Germany
        • Russia
    • Asia Pacific
        • China
        • Japan
        • India
    • RoW
        • Israel