The airborne pods market was valued at approximately US$ 2,832.45 million in 2022 and is projected to grow to around US$ 4,287.47 million by 2030, reflecting a compound annual growth rate (CAGR) of 5.3% from 2022 to 2030.
Increasing Military Aircraft and Helicopter Acquisitions Driving Airborne Pods Market Growth
The surge in military aircraft and helicopter acquisitions aimed at countering the rising frequency of airborne assaults is significantly propelling the growth of the airborne pods market worldwide. There is a heightened demand for sophisticated technologies that can effectively neutralize missile threats while improving target identification, surveillance, and detection of potential airborne dangers. This demand is leading to an increased deployment of advanced airborne pods in military aircraft, jets, and helicopters. Various governments are making substantial investments in acquiring high-performance military aircraft, combat jets, and helicopters to address the escalating airborne threats, thereby broadening the application range of airborne pods and advanced sensors on a global scale.
The airborne pods market is categorized based on aircraft type, pod type, sensor technology, and operational range. Regarding aircraft type, the market is divided into combat aircraft, helicopters, unmanned aerial vehicles (UAVs), and others. In terms of pod type, it includes intelligence, surveillance, and reconnaissance (ISR) pods; targeting pods; and self-protection/infrared countermeasure pods. The sensor technology segment encompasses electro-optical or infrared sensors, electronic warfare sensors, and infrared countermeasure (IRCM) sensors. Additionally, the market is segmented by range into short-range, intermediate-range, and long-range categories, with long-range airborne pods being the most prevalent in air defense applications. The market is also divided into five primary regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is expected to dominate the airborne pods market from 2022 to 2030, while the Asia Pacific region is anticipated to experience the highest CAGR during the same period.
The United States is at the forefront of the airborne pods market within North America. The government is increasingly prioritizing the enhancement of the nation?s air defense capabilities through advanced surveillance, detection, targeting, navigation, and communication technologies. In 2020, the US government allocated US$ 778 billion for military expenditures. This figure rose to US$ 806.23 billion in 2021 and reached approximately US$ 877 billion in 2022, accounting for about 40% of global military spending. This growing financial commitment to defense underscores the country?s focus on advancing its air defense capabilities to meet rising security demands. Key manufacturers of airborne pods in the US include Meggitt Defense Systems, L3Harris Technologies, and Lockheed Martin Corporation. Innovations in surveillance, missile detection, identification, communication, and navigation systems within the defense sector are driving the demand for airborne pods in the United States. As of 2023, the US military operates a fleet of 13,300 military aircraft, including 256 Fairchild Republic A-10 Thunderbolt II ground attack aircraft, 218 McDonnell Douglas F-15E Strike Eagles, 266 McDonnell Douglas F-15 Eagles, 2 Boeing F-15EX Eagle IIs, 127 Lockheed Martin F-22 Raptors, 922 General Dynamics F-16 Fighting Falcons, and 310 Lockheed Martin F-35 Lightning IIs.
Moreover, the Air Force plans to retire 310 aircraft, including 42 A-10 Warthogs, as part of its fiscal 2024 budget to reallocate funds for modernization initiatives. The increasing number of military aircraft, helicopters, and UAVs presents significant opportunities for airborne pods, which are essential for effective navigation, target detection, identification, and surveillance. Consequently, the rise in technological advancements and the demand for modern equipment to enhance surveillance, aircraft self-defense, and national security against airborne threats are driving the growth of the airborne pods market in the United States.
Key players in the airborne pods market include BAE Systems Plc, Advanced Technologies Group (ATGI), L3Harris Technologies Inc, Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Corporation, SaaB AB, Terma A/S, Thales SA, and Ultra-Electronics Holdings Plc. Additionally, several other significant market participants have been analyzed to provide a comprehensive overview of the airborne pods market and its ecosystem.