The Market of Airborne Pods to grow beyond US$ 3,266.3 million by 2024

The new report of Stratview Research analyses the Airborne Pods market over the trend period from 2013 to 2018 and forecast period from 2019 to 2024. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.

Salient Features of the Report

The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
• Strategic segmentation
• Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Detailed Competitive Rivalry landscaping
• Market trend and forecast analysis
• Future Growth Boulevards

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An overview: The market size & market drivers
The airborne pods market is projected to grow at a healthy rate over the next five years to reach US$ 3,266.3 million in 2024. Growing military expenditure, especially of the developing economies including China and India, an emergence of ISR due to security reasons, an increasing demand for advanced targeting systems, and a rising military aircraft upgradation are the major growth factors that are burgeoning the demand for airborne pods in various countries. Asia-Pacific and North America are the biggest demand generators with a current combined share of more than two-thirds of the total airborne pods market.

Combat aircraft & UAVs: The growth engine
The airborne pods market is segmented based on the aircraft type as Combat Aircraft, Helicopter, UAV, and Others. Combat aircraft and UAVs are likely to remain the growth engines of the market during the forecast period. Rising global tension is compelling various countries to rapidly upgrade their defense capabilities in order to protect themselves from uncertainty and to further solidify their borders.

Major developed markets, such as the USA, freeze very high defense budget with the purpose to remain the leading market and to provide the highest security to their civilians, whereas the developing economies, such as China, Saudi Arabia, and India, are increasingly increasing their defense budget to quickly advance their existing defense capabilities. This is primarily driving the demand for airborne pods in the combat aircraft and UAVs segments in the coming years. Additional drivers are an emergence of ISR, a rising demand for better targeting systems, and an increasing demand for lightweight pods, which are acting as catalyst to the overall demand for airborne pods in these segments.

Dominance of: ISR and Composite enclosure
Based on the pod type, the market is bifurcated into Intelligence, Surveillance, & Reconnaissance (), Targeting, Self-Protection/Countermeasure, and Others. ISR is likely to remain the most dominant segment of the global airborne pods market over the next five years. ISR pod offers a wide array of advantages, such as precise identification, detection, and recognition of targets. It also converts a normal combat aircraft or a helicopter to a surveillance and reconnaissance aircraft/helicopter by adding such features to it. Its’ capability is based on the sensors which are situated inside the pod. The larger the sensor and lenses of camera, the larger the range of the pod.

Targeting pods are likely to be the fastest-growing segment of the global airborne pods market, mainly driven by an increasing military aircraft procurement and the upgradation of existing fleet of military aircraft across the world.
Based on the enclosure type, the market is segmented into Composite Pods and Metal Pods.

Composite enclosure is likely to remain the most dominant and faster-growing segment of the airborne pods market during the forecast period. It provides numerous advantages over its counterpart, such as good product performance, low maintenance cost, and excellent corrosion resistance. Composite enclosure further helps in reducing aerodynamic drag due to its smooth structure. It is expected that there would be a continuous shift from metal enclosures to composite enclosures in the coming years.

A highly/moderately/fragment consolidated Market

The key airborne pod companies are Thales Group, Lockheed Martin Corporation, UTC Aerospace Systems, Northrop Grumman Corporation, Raytheon Company, Harris Corporation, S.G.D. Engineering Ltd., Airborne Technologies, Ultra Electronics Holdings PLC, CPI Aerostructures, Rafael Advanced Defense Systems Ltd., and SAAB AB. The development of advanced Pods and formation of long-term contracts are some of the most common strategies adopted by the major players in order to remain competitive in the market.

Regional Hegemony of North America & the dominance of EO/IR segment

Based on the regions, North America is projected to remain the largest market during the forecast period. The USA is the growth engine of the region’s market and has the largest fleet of combat aircraft across the world. Rising military aircraft fleet size with a high focus on their upgradation is likely to further boost the overall demand for airborne pods in the region in the foreseeable future. Additionally, all the major pod manufacturers are located in the region to support the defense department and OEMs, helping the country to own more advanced airborne pods.

Asia-Pacific is likely to witness the highest growth during the same period, driven by a host of factors including an increasing defense budget of China, India, and South Korea, a continuous upgrade of existing aircraft fleet, and a higher investment in developing and procuring UAVs, due to rising tensions in different parts of the region.

Based on the sensor type, the market is segmented into Electro Optical (EO)/ Infrared (IR), Electronics Warfare (EW)/Electronic Attack (EA), Infrared Countermeasure (IRCM), and Other. The EO/IR segment is projected to maintain its dominance in the market over the next five years. Increasing demand for ISR pods and rising emergence of ISR due to security reasons are the major growth drivers of EO/IR sensors in the global airborne pods market. Electronic warfare/electronic attack (EW/EA) sensors are likely to be the fastest-growing segment of the global airborne pods market during the forecast period 2019-2024.

Comprehensive Market Coverage

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This release was published on openPR.