PUBLISHER: The Insight Partners | PRODUCT CODE: 1494531
PUBLISHER: The Insight Partners | PRODUCT CODE: 1494531
The South & Central America airborne pods market is expected to grow from US$ 86.34 million in 2022 to US$ 111.47 million by 2030. It is estimated to record a CAGR of 3.2% from 2022 to 2030.
Deployment of Countermeasure Systems Drives South & Central America Airborne Pods Market
The changing geopolitical scenario worldwide boosts the requirement for strong defense countermeasure systems. Countermeasure systems are airborne defensive systems that help identify airborne threats. Air defense radar systems generate important data for fusion and correlation by leveraging inputs from other sensors and intelligence sources. This accelerates the development of a comprehensive and accurate air image, enabling precise threat assessments and target engagements. They enable armed forces to track, detect, and identify airborne threats such as aircraft, drones, and missiles. BAE Systems, General Dynamics Corporation, Honeywell International Inc., Israel Aerospace Industries Inc., Leonardo S.p.A, Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Technologies Corporation, SAAB AB, and Thales Group are a few companies focusing on developing defense countermeasure systems that include radar system, communication and surveillance system, and navigation devices. Thus, the increasing procurement and deployment of countermeasure systems is expected to fuel the growth of the airborne pods market during the forecast period.
South & Central America Airborne Pods Market Overview
The rising requirement for advanced sensors and other aerial detection, recognition, targeting, and self-defense technologies in the air defense industry is one of the major drivers for the airborne pods market. Brazil is one of South America's most promising markets for airborne pods. Airborne pods allow military aircraft to target, detect, and combat threats in a new and advanced manner, which helps enhance the nation's safety and security from airborne attacks. Airborne pods help in continuous streaming and support the airborne operators by reducing the possibility of interference. The advanced airborne pods also help capture infrared images in extreme conditions to meet the war requirements and help in successful war operations. The growing technological advancement and need for modern equipment to establish safe data linking and the self-defensive potential of an aircraft are anticipated to boost the application of airborne pods in South American countries. In 2020, South America had a military expenditure of US$ 37,262.5 million, which increased to US$ 38,560.1 million in 2021. In 2022, the military expenditure was US$ 38,292.5 million. The growing unstable geopolitical scenarios regarding wars and conflicts between different nations are fueling the demand for advanced equipment to strengthen the respective nation's Air Force. In 2023, South America accounted for 1,647 units of military aircraft fleets. Increasing demand for modern technologies to be used in the current war scenarios and growing requirements for more sophisticated navigation, detection, communication, and surveillance equipment and devices for airborne operation in South America are anticipated to encourage the application of airborne pods across the airborne defense sector during the forecast period.
South & Central America Airborne Pods Market Revenue and Forecast to 2030 (US$ Million)
South & Central America Airborne Pods Market Segmentation
The South & Central America airborne pods market is segmented into aircraft type, pod type, sensor technology, range, and country.
Based on aircraft type, the South & Central America airborne pods market is segmented into combat aircraft, helicopter, UAVs, and others. The combat aircraft segment held the largest share of the South & Central America airborne pods market in 2022.
In terms of pod type, the South & Central America airborne pods market is segmented into ISR, targeting, and self-protection/countermeasure. The ISR segment held the largest share of the South & Central America airborne pods market in 2022.
Based on sensor technology, the South & Central America airborne pods market is segmented into EOIR, EWEA, and IRCM. The EOIR segment held the largest share of the South & Central America airborne pods market in 2022.
In terms of range, the South & Central America airborne pods market is segmented into short range, intermediate range, and long range. The long-range segment held the largest share of the South & Central America airborne pods market in 2022.
Based on country, the South & Central America airborne pods market is segmented into Brazil, and the Rest of South & Central America. Brazil dominated the South & Central America airborne pods market in 2022.
BAE Systems Plc, L3Harris Technologies Inc, Lockheed Martin Corp, Saab AB, and Thales SA are some of the leading companies operating in the South & Central America airborne pods market.