Global market for targeting pods to reach $6.02 billion by 2027, study says
NewsMay 23, 2022
LONDON. The global market for targeting pods -- valued at $3.87 billion in 2020 -- is expected to reach $6.02 billion by 2027, a combined annual growth rate (CAGR) of 6.5% CAGR, according to a recent study by Brandessence Market Research & Consulting, "Global Targeting Pods Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027."
According to the study authors, two of the driving factors in the mounting demand for these weapons systems are increases in the defense budgets of various countries and growing purchases of aircraft targeting systems.
The study authors explain that many targeting pods use sensors to accomplish missions such as target detection, recognition, and identification; use of lasers at a distance; electro-optical tracking of multistationary objects; and auto-detection of multiple dynamic and aerial targets, and so on.
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