Government Agencies Strengthening Stakes in Targeting Pods Market to Modernize Precision-Guided Munitions, Market to Garner CAGR of ~5% from 2019 to 2027 - TMR

Government Agencies Strengthening Stakes in Targeting Pods Market to Modernize Precision-Guided Munitions, Market to Garner CAGR of ~5% from 2019 to 2027 - TMR

PR Newswire

ALBANY, N.Y., Dec. 22, 2020

- Aerospace companies and defense contractor companies collaborate with governments of several countries to test new optical electro-targeting systems, North America to hold sizable revenue market share

- Government agencies ramp up their investments to cement warfare capabilities by adopting precise targeting pods, global targeting pods market to touch the mark of ~US$ 4 Bn by 2027

ALBANY, N.Y., Dec. 22, 2020 /PRNewswire/ -- Targeting pods are increasingly being integrated with combat aircrafts by militaries around the world. Advances in optical targeting pods (OTPs) have paved way to the deployment of precision targeting system. Particularly, the demand for laser-guided weapons is expected to rise. Manufacturers of defense aircrafts and aerospace companies are collaborating on electro-optical sighting for targeting daytime and infrared-sighting during night time. OTPs equipped with features notably laser designators, electro-optics, and infrared radars. Apart from being deployed in aircrafts, targeting pods are also deployed in unmanned aerial vehicles.

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Rise in aerospace and defense budgets has moved the cursor to advancing guided munitions, expanding the horizon in the targeting pods market, opine analysts at TMR.

By 2027-end, the market is expected to spawn revenue of ~US$ 4 Bn. Optical electro-targeting systems have come a long way and will continue to gain attention by defense contractors and aerospace companies in numerous developing and developed nations.

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Key Findings of Targeting Pods Market

Analyze global targeting pods market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study

Targeting Pods Market: Key Driving Factors and Promising Avenues

Explore 234 pages of top-notch research, incisive insights, and detailed country-level projections on Targeting Pods Market (Type: FLIR & Laser Designator Pods and Laser Spot Trackers; Component: CCD Camera, Thin-film Preparation, MMS, ECU, HD TV, and Video Link; Platform: Combat Aircraft, Helicopter, UAV, and Others; and Installation: OEM and Aftermarket) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027 at https://www.transparencymarketresearch.com/targeting-pods-market.html

Targeting Pods Market: Regional Growth Dynamics

North America has proved to a highly lucrative regional market. The presence of companies who develop components for advanced precision-guided munition is a key factor. Another trend fueling the growth of the regional market is the rapid uptake of advanced electro-optical targeting capability, especially by the U.S. military. Some of the market participants in the region are Lockheed Martin, L-3 Communications, and Flir Systems.

Targeting Pods Market: Competitive Dynamics

Degree of competition is moderate. Also, the bargaining power of buyers is moderate. Top players are leaning on expanding their portfolio to consolidate their shares in the targeting pods market. Some of the top players in the market are Thales Group, Raytheon Company, Rafael Advanced Defense Systems Ltd., Northrop Grumman, and Lockheed Martin.

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Global Targeting Pods Market: Segmentation

Targeting Pods Market, by Type

Targeting Pods Market, by Component

Targeting Pods Market, by Platform

Targeting Pods Market, by Installation

Targeting Pods Market, by Region

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