San Francisco, 06 June 2024: The 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

The global targeting pods market size is expected to reach USD 5.21 billion by 2025, according to a study conducted by Grand View Research, Inc., exhibiting a CAGR of 6.3% during the forecast period. The rise in terrorist activities across the globe and the growing adoption of targeting pods by developing countries have boosted the market. These devices provide users with enhanced security and targeting capabilities.

Rising interest in 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 the Raytheon Emirates with an aim to enhance its position in the UAE defense market. Additionally, the 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 the increasing need for public safety. Development activities undertaken by defense organizations in countries such as India are also leading to the growth of the market. Additionally, increased defense budgets of developing countries in the region are boosting the market.

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

Increasing demand for enhanced targeting systems is the prime factor driving the growth of the market. Additionally, the rise in terrorist activities across the globe has an elevated demand for targeting pods.

Targeting pods offer advanced features such as integrated GPS, which enables users to receive precise target location as well as store and share data with other users via wired and wireless connection for enhanced communication. Additionally, they allow users to obtain clear images of targets identified through touchscreen color display.

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Targeting pods offer Ground Moving Target Indication (GMTI) capability, which assists users in detecting moving ground vehicles. It also enables them to distinguish between moving and unmoving objects. Additionally, they offer mission history recording capability, which allows users to store large amounts of data.

Targeting Pods Market Report Highlights

• 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.

On the downside, factors such as high costs associated with the development and maintenance of targeting pods and decreasing defense expenditure in developed countries are likely to hamper the market growth. Furthermore, stringent government regulations pertaining to import and export of defense articles are expected to hinder the market.

Laser designator pods offer features such as long-range surveillance, laser illumination capabilities, and Advanced Video Tracker (AVT). These features enable users to identify targets from a long distance and also assist them in receiving real-time videos of targets identified. This segment dominated the market in 2016.

However, FLIR and laser designator pods are expected to form the fastest-growing segment over the forecast period. Features such as geolocation coordinates and manual control options offer accuracy and convenience to users. Demand for FLIR pods is anticipated to increase owing to the capabilities they offer, such as enhanced target recognition, Plug-and-Play interface, and multi-target auto tracker.

Targeting Pods Market Report Scope

Prominent industry participants include ASELSAN A.S.; Thales Group; Raytheon Company; FLIR Systems, Inc.; Ultra Electronics Holdings plc; L3 Technologies, Inc.; and Northrop Grumman Corporation. Key players in the market are focusing on collaborating with other companies. Moreover, they are making large investments in R&D to develop innovative solutions and gain a competitive edge over others.

Various companies undertake mergers and acquisitions to stay ahead of the competition. For instance, in 2016, FLIR Systems, Inc. acquired Prox Dynamics, a developer, manufacturer, and distributor of aerial sensors. The acquisition was worth approximately USD 134 million and was aimed at enhancing its surveillance segment.

About Grand View Research
Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services.
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