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Targeting pod is an electronic device capable of assisting ground attack aircraft for identifying targets with low altitude and guiding the munitions to those targets. The need for strengthening the air force defense system across the globe is expected to be the driving factor for targeting pod market.
A rise in demand for infrared technologies, thermally cooled infrared devices, and forward-looking infrared technologies (FLIR), will create new market growth opportunities for the market players. The challenge for the targeting pods provider is to manufacture such a pod that works optimally in low light conditions and bad weather.
Key Market Driver -
• Increase in demand for advanced targeting system • Rise in cross-border conflicts and terrorist activities
Key Market Restraint -
• Decrease in investments by government of developed countries in defense sector
The Sniper Advanced Targeting Pod (SATP) developed by the Lockheed Martin Corporation provides autonomous tracking, positive target detection, and precise weapon guidance. Its image processing allows the crew members to detect, identify, and engage the targets outside the range of most enemy air defenses. The pod’s FLIR technology allows tracking and observation in low light conditions, smoke, or clouds.
The future technological demand in targeting pods is for thermally cooled infrared devices. FLIR Systems Inc. has developed a high definition thermal science camera, which can be used for military and research & development applications. This camera offers a wide range of precision, can capture blur-free images of high-speed targets, and integrates effortlessly.
The targeting pod market is segmented on the basis of type, platform, component, and region.
Based on type, the targeting pod market is segmented into laser spot tracker pod, forward-looking infrared (FLIR) pod, FLIR and laser designator pod, and laser designator pod. The FLIR and laser designator pod segment is expected to lead the market through the forecast period. The increase in demand for FLIR and laser designated pods for targeting and surveillance is the key factor driving the market growth.
Based on platform, the market is further segmented into combat aircraft, unmanned Aerial Vehicle (UAV), and helicopters. In 2018, the combat aircraft segment was estimated to be the largest segment in the market, owing to the increase in expenditure on new aircraft procurement and upgradation of existing aircraft for precision ground attack competencies. The UAV segment of the market is predicted to be the fastest segment during the forecast period due to an increase in expenditure on surveillance and reconnaissance operations.
Based on component, the market is segmented into FLIR sensor, moving map system, digital data recorder, charge-coupled device camera, environmental control unit, video datalink, processor. In 2018, the FLIR sensor segment was predicted to be the largest segment of the market. The advanced technology of FLIR sensor provides two-way communication and long-range target acquisitions, thus increasing the demand for the sensor.
Some of the key players in the targeting pod market include Thales Group (France), Saab AB (Sweden), Lockheed Martin Corporation (the U.S.), The Raytheon Company (the U.S.), Northrop Grumman Corporation (the U.S.), L-3 Technologies (the U.S.), BAE Systems (the U.K) include and among others.
By Region, the market is segmented into North America, Europe, Asia Pacific, and rest of the world
Europe is predicted to be the dominating segment in targeting pods market during the forecast period owing to its increased investments on upgradation programs for targeting pods aircraft and advanced technologies by countries such as the U.K., and France. Moreover, the region has the presence of technologically advanced companies such as BAE Systems and Thales Group, thus facilitate market growth.
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Asia-Pacific is expected to record considerable growth in the market during the forecast period owing to geopolitical tensions between India, China, South Korea, and others resulting in high demand for targeting pods in Western Countries and rising awareness towards advanced products during the war. Development activities undertaken by defense administrations in countries such as India and China are also fueling the growth of the market.
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