Targeting Pods Market Research Report – Forecast to 2023

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Targeting Pods Market Research Report - Forecast to 2023
Segmentation
The globally targeting pods market has been segmented into type, component, platform, fit, and region. Based on type, the
FLIR & Laser designator pods segment is widely used and comprises the largest share in the market due to increasing use of
forward-looking infrared sensors, along with laser designators for targeting and surveillance. Based on the component
segment, the FLIR sensor segment is expected to have the largest demand in the targeting pods market during the forecast
period due to increased spending on aircraft with precision attack capabilities in low light conditions. Based on platform,
the combat aircraft segment has the largest demand in the targeting pods market due to the increased spending on
upgrading existing aircraft and new aircraft procurement programs, especially for precision ground attack capabilities.
Among fit segment, OEM has the largest demand in targeting pods market due to increased spending on airborne targeting
and laser designation systems.
Regional Analysis
On the basis of region, the market is segmented into North America, Asia Pacific, Europe, the Middle East, and South
America. The Europe region is expected to dominate the market in the future, due to increased spending on advanced
airborne targeting systems by countries, such as the U.K, France, and Russia and the upgrades and procurement of targeting
pod-based aircraft. The reason for Russia’s dominance in the Europe targeting pods market can be attributed to the
country’s aircraft upgrades programs. Asia Pacific region is second to the European region in the global targeting pods
market due to the increasing need for public safety and increased defense budgets of developing countries. For instance,
Egypt has signed an agreement with Lockheed Martin to provide Low Altitude Navigation and Targeting Infrared for Night
(LANTIRN) navigation and targeting pod system that allows the host aircraft to fly at low altitudes, at night and under-theweather
to attack ground targets with a variety of precision-guided weapons. The system comprises the AN/AAQ-13
navigation pod and AN/AAQ-14 targeting pod. Thus, the global targeting pods market is estimated to witness approximately
7% CAGR from 2018 to 2023.