Targeting pods are instruments that are able to classify and direct arms towards the intended target. With the rising demand for improved targeting systems, the global laser designator targeting pods market is growing. Precision-guided munitions, such as laser-guided weaponry use targeting pods. A series of coded bursts of laser light is fired and the beam is invisible and does not shine continuously. Considering the growing tension among various countries in the Africa region, the requirement for laser designator target pods is anticipated to increase in near future.
MARKET SCOPE
The "Global Laser Designator Targeting Pods Market Analysis to 2028" is a specialized and in-depth study of the aerospace and defense industry with a special focus on the global market trend analysis. The report aims to provide an overview of the laser designator targeting pods market with detailed market segmentation by component, platform, and geography. The report provides key statistics on the market status of the leading laser designator targeting pods market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on component, the global laser designator targeting pods market is segmented into environmental control unit, charged coupled device (CCD) camera, digital data recorder, processor, sensor and others.
- On the basis of platform, the market is segmented into UAV, combat aircraft, attack helicopter and bombers.
MARKET DYNAMICS
Drivers:
- Increasing military aircraft up-gradation programs in various nations.
- Rising demand for aircraft payload-based targeting systems.
Restraints:
- High cost involved may restrain the market growth to some extent.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW). The laser designator targeting pods market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 17 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive porter's five forces analysis affecting the laser designator targeting pods market worldwide.
IMPACT OF COVID-19 ON LASER DESIGNATOR TARGETING PODS MARKET
With growing defense modernization programs, the requirement for laser designator targeting pods was growing promisingly before the pandemic began. But due to the pandemic of COVID-19, some countries' defense budget was reduced during 2020 owing to expenditure on vaccines, oxygen cylinders, and other healthcare facilities. In 2019, Russia's military expenditure was US$ 65.20 billion which was reduced to US$ 61.71 billion in 2020. Decreased military spending in such major countries affected the demand for laser designator targeting pods to some extent. Limited availability of raw material, temporary manufacturing shutdown, restriction of the limited workforce, and delay in scheduled deliveries have affected the production process negatively. All such limitations negatively impacted the production of digital data recorders, environmental control units, and charged coupled device cameras. Some key companies also saw a drop in their annual revenues. For instance, the annual revenue of Teledyne FLIR LLC went down to US$ 3.08 billion in 2020 from US$ 3.16 billion in 2019.
MARKET PLAYERS
The report covers key developments in the laser designator targeting pods market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from laser designator targeting pods market are anticipated to lucrative growth opportunities in the future with the rising demand for laser designator targeting pods in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the laser designator targeting pods market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Teledyne FLIR LLC
- ASELSAN A..
- Israel Aerospace Industries Ltd.
- Lockheed Martin Corporation
- Moog Inc.
- Northrop Grumman Corporation
- Raytheon Technologies Corporation
- Rafael Advanced Defense Systems Ltd.
- Thales Group
- L3Harris Technologies, Inc.