Targeting Pods Market to be Valued At $5.21 Billion by 2025: Grand View Research, Inc

Targeting Pods Market to be Valued At $5.21 Billion by 2025: Grand View Research, Inc

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According to report published by Grand View Research, rise in terrorist activities across the globe and growing adoption of targeting pods by developing countries have boosted the targeting pods market. These devices provide users with enhanced security and targeting capabilities.

According to a report,“Targeting Pods Market Size, Share & Trends Analysis Report By Type (FLIR & Laser Designator, Laser Designator, FLIR), By Component, By Fit, By Platform, By Region, And Segment Forecasts, 2018 – 2025”, published by Grand View Research, Inc., The global targeting pods market size is expected to reach USD 5.21 billion by 2025, exhibiting a CAGR of 6.3% during the forecast period. Rise in terrorist activities across the globe and growing adoption of targeting pods by developing countries have boosted the market. These devices provide users with enhanced security and targeting capabilities.

Key Takeaways from the report:

  • FLIR and laser designator pods offer Ground Moving Target Indication (GMTI) capability. Therefore, the segment is expected to register the highest CAGR over the forecast period on the basis of type

  • FLIR sensors provide two-way communication and long-range target acquisitions. Thus, based on component, the segment is likely to exhibit the fastest growth rate through 2025

  • The OEM fit segment is anticipated to clock in the highest CAGR owing to increasing adoption of targeting pods by governments to enhance security measures

  • By way of platform, the UAV segment is anticipated to exhibit the highest CAGR owing to benefits offered such as convenience and enhanced battery life

  • Asia Pacific is expected to emerge as the fastest-growing region over the forecast period owing to increased defense expenditure by countries such as China and India

  • Prominent industry participants include Thales Group; FLIR Systems, Inc.; L3 Technologies, Inc.; Raytheon Company; Lockheed Martin Corporation; and Smiths Detection Inc.

U.S. targeting pods market size, by type, 2014 - 2025 (USD Million)

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Global targeting pods market share, by component, 2016 (%)

Rising interest of targeting pod companies in gaining a significant share in the defense market in regions such as Middle East is expected to drive the adoption of targeting pods. For instance, Raytheon Company formed a new subsidiary named Raytheon Emirates with an aim to enhance its position in the UAE defense market. Additionally, presence of prominent targeting pod providers such as Israel Aerospace Industries Ltd. is driving market growth in the region.

The Asia Pacific market is expected to witness considerable growth owing to increasing need for public safety. Development activities undertaken by defense organizations in countries such as India is also leading to the growth of the market. Additionally, increased defense budgets of developing countries in the region is boosting the market.

However, decreased defense expenditure in developed countries may hamper market growth. Additionally, high costs of development and maintenance of targeting pods are expected to hinder market growth. Therefore, device providers are focusing on developing affordable solutions that can be used in other markets such as naval and defense.

Grand View Research has segmented the global targeting pods market based on type, component, fit, platform, and region:

Targeting Pods Type (Revenue, USD Million, 2014 – 2025)

  • FLIR & Laser Designator Pods

  • Laser Designator Pods

  • FLIR Pods

  • Laser Spot Tracker Pods

Targeting 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

Targeting Pods Fit Outlook (Revenue, USD Million, 2014 – 2025)

  • OEM Fit

  • Upgrades

Targeting Pods Platform Outlook (Revenue, USD Million, 2014 – 2025)

  • Combat Aircraft

  • Unmanned Aerial Vehicle (UAV)

  • Attack Helicopters

  • Bombers

Targeting Pods Regional Outlook (Revenue, USD Million, 2014 – 2025)

  • North America

    • U.S.

    • Canada

  • Europe

    • France

    • Germany

    • Russia

  • Asia Pacific

    • China

    • Japan

    • India

  • RoW

    • Israel

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

For more information: www.grandviewresearch.com

 

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