Global Targeting Pod Market is projected to grow at a CAGR of 5.9% By 2032: Visiongain Research Inc

Visiongain has published a new report entitled the Targeting Pod Market Report 2022-2032. It includes profiles of Targeting Pod and Forecasts Market Segment by Fit (OEM Fit, Upgradation, Other Fit) Market Segment by Platform, (Combat Aircraft, Unmanned Aerial Vehicles (UAVs), Attack Helicopters, Bombers, Other Platforms) Market Segment by Component, (FLIR Sensor, Charge Coupled Device (CCD) Camera, Environmental Control Unit (ECU), Moving Map System (MMS), Digital Data Recorder, Other Component) Market Segment by Type, (FLIR & Laser Designator Pods, Laser Designator Pods, FLIR Pods, Laser Spot Tracker) PLUS COVID-19 Impact Analysis and Recovery Pattern Analysis (V-shaped, W-shaped, U-shaped, L-shaped) Profiles of Leading Companies, Region and Country.

The global targeting pod market was valued at US$1038 million in 2021 and is projected to grow at a CAGR of 5.9% during the forecast period 2022-2032.

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Rise in Cross-Border Conflicts and Terrorist Activist

The nature of conflict and violence has shifted considerably in the 75 years since the United Nations was created. Conflicts are now less lethal and are fought more frequently between domestic groups than between states. In some parts of the world, homicides are becoming more regular, while gender-based violence is on the rise everywhere. The long-term impact of interpersonal violence, particularly violence against children, on development is becoming recognised. Separately, technological advancements have raised concerns about lethal autonomous weaponry and cyberattacks, as well as the weaponization of bots and drones and the livestreaming of terrorist activities. Data hacking and ransomware have also become more prevalent. In the meantime, international cooperation is stretched, limiting global capability for avoiding and resolving all forms of conflict and violence.

How has COVID-19 had a significant negative impact on the Targeting Pod Market?

In all industries worldwide, COVID affected supply chains. The military industry is often resilient to global commercial shocks, although cushion defense characteristics have faded in recent years. Although it is still too early to predict precisely whether the industry is flat, shrinking or growing unaffected by the global pandemic, it is very important that defense companies identify what the major impact points are and assess the potential of defense undertakings to influence business plans, supply chains and the underlying lines. This will help to form steps to prevent the storm from happening to companies. Supply side shocks may be one of the most obvious outcomes of the defense pandemic. The initial victims of this pandemic are companies which are based in nations that are hardly touched by the virus or are dependent on supply chains in the countries concerned.

The supplier chain and resource patterns of DTIB will also effect the production, since supply side limitations are more likely to be facing production waits with branching supply networks. The European DTIB has a fair number of branching supply chains with a final platform or solution of multiple components and subsystems from different suppliers.

How this Report Will Benefit you?

Visiongain’s 434+ page report provides 310 tables and 308 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the global targeting pod market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Targeting Pod. Get the financial analysis of the overall market and different segments including type, fit, platform, systems and capture higher market share. We believe that high opportunity remains in this fast-growing targeting pod market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report would help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.

What are the current market drivers?

The Increasing Inclination Towards Aircraft Modernization

The use of optical targeting pods (OTPs) in aircraft is becoming increasingly popular in the defence sector around the world. The introduction of a precision targeting system in which optical targeting facilitators define, identify, and track targets using laser beams has acquired widespread acceptance, resulting in a steady increase in demand for targeting pods, especially in the first half of the projected period. Over the last three decades, advancements in optical electro-targeting systems have boosted demand for targeting pods significantly. As a result of these causes, governments all over the world are raising their defence budgets.

Advancements in Sensor Technology

Object detection and tracking are critical components in a wide range of vision-based applications, including surveillance, vehicle navigation, driver assistance, activity recognition, and so on. As a result, a variety of techniques have been presented in the literature to deal with problems arising from differences in object appearance, occlusion situations, sensor ego-motion, and other factors. For years, research has been concentrated on the visible light spectrum, with excellent solutions developed for single and multiple monocular or stereo cameras. Unfortunately, techniques that rely primarily on visible light sensors have not been able to deliver totally satisfactory results in low-light circumstances.

Where are the market opportunities?

The Increased Need for Futuristic Technologies

The US Air Force made an initial order for Northrop Grumman Corporation's LITENING advanced targeting pods in July 2020, and the company has already delivered around 900 LITENING pods to the US Air Force and other overseas clients as of mid-2020. After being released in 2012, Northrop Grumman's fourth-generation airborne monitoring pod surpassed 1 million flight hours in February 2019 with combat aircraft platforms. United States and other defence clients have used the new LITENING pod on aircraft platforms as the F/A-18, F-16, F-15, C-130, B-52, A-10, and AV-8B. As of mid-2019, Northrop had logged about 3 million operational hours for the system's II, extended range better targeting, and fourth-generation variants.

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The Launch Of Military Modernization Programs By Many Nations Around The World

To improve target engagement capabilities, military agencies are investing in modern targeting pods to be integrated into ageing aircraft. For example, the US Department of Defense awarded Sierra Nevada Corporation (an electronic systems provider and systems integrator specialising in microsatellites, telemedicine, and commercial orbital transportation services headquartered in Nevada, US) a 329-million-dollar contract in 2019 to build 12 A-29 Super Tucano aircraft for the Nigerian Air Force (NAF). Embraer SA designed and manufactured the A-29 Super Tucano, a Brazilian turboprop light attack plane (Brazilian defence conglomerate). The A-29 Super Tucano is a low-cost system that can carry a wide range of weaponry, including precision-guided missiles. It was designed to operate in low-threat situations. Embraer has established a production line in the United States in collaboration with Sierra Nevada Corporation for the construction of A-29s for a variety of export customers, in addition to its manufacturing in Brazil. FLIR designator targeting pods are included in the deal for six of the planes. Ground training equipment, mission planning systems, mission debriefing systems, spares, ground support equipment, and support services are all included in the deal, in addition to the 12 aircraft.

Competitive Landscape

The major players operating in the targeting pod market are Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Company, L-3 Harris Technologies, BAE Systems, Thales Group, Aselsan A.S, Ultra Electronics Holdings, Elbit Systems Ltd, Boeing Company, Moog Inc, FLIR Systems, Rafael Advanced Defense Systems Ltd., Israel Aerospace Industries, Qioptiq Photonics GmbH & Co KG.These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.

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Visiongain is one of the fastest growing and most innovative, independent, market intelligence around, the company publishes hundreds of market research reports which it adds to its extensive portfolio each year. These reports offer in-depth analysis across 18 industries worldwide. The reports cover a 10-year forecast, are hundreds of pages long, with in depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets, which currently can influence one another, these markets include automotive, aviation, chemicals, cyber, defense, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customized and syndicated market research reports mean that you can have a bespoke piece of market intelligence customized to your very own business needs.

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