PUBLISHER: The Insight Partners | PRODUCT CODE: 1494534
PUBLISHER: The Insight Partners | PRODUCT CODE: 1494534
The Middle East & Africa airborne pods market is expected to grow from US$ 267.59 million in 2022 to US$ 364.43 million by 2030. It is estimated to record a CAGR of 3.9% from 2022 to 2030.
Increasing Defense Spending Drives Middle East & Africa Airborne Pods Market
The changing modern warfare scenario has obligated governments of various countries to allocate significant funds and financial aid to respective defense and military forces. The defense budget allocation supports army and military forces in purchasing technologies and equipment from domestic or international developers. There is an augmented need to reinforce defense and military forces with advanced airborne defense systems; hence, air forces across the globe are focusing on investing significant amounts in procuring advanced technologies. Defense forces' constant inclination to acquire new technologies for non-combat and combat operations further boosts military expenditure worldwide. As per the Stockholm International Peace Research Institute (SIPRI), global military expenditure increased to US$ 2,148 billion in 2022, representing a 3.5% increase from 2021. The US, China, India, Russia, and Saudi Arabia were the top five spenders in 2022, which accounted for 63% of the global expenditure. The increasing military expenditure encourages the incorporation of advanced warfare technologies such as advanced communication devices, sensor systems, missile detection systems, and surveillance and navigation systems. In addition, a high military budget supports the countries in assigning resources for the advancement of their existing military aircraft, helicopters, and unmanned aerial vehicles. This comprises enhancing or replacing outdated and mature communication, sensor, laser, surveillance, and navigation systems with more advanced and capable ones by incorporating high-end airborne pods.
Middle East & Africa Airborne Pods Market Overview
The Middle East & Africa airborne pods market is segmented into Saudi Arabia, the UAE, and South Africa. In 2020, the military expenditure was US$ 129.9 billion, which increased to US$ 134.1 billion in 2021. In 2022, the Middle East & Africa's military expenditure was US$ 146.8 billion. In 2022, Saudi Arabia dominated military expenditure in the region, followed by the UAE and South Africa. A promising share of military expenditure is contributed to the prerequisite for advanced equipment devices, which help strengthen the Air Force to combat modern war and is anticipated to boost the application of airborne pods during the forecast period. The Middle East & Africa accounted for 4,964 units of military aircraft fleet as of 2023. In 2023, Airbus SE signed an agreement worth more than US$ 6.7 billion (25 billion riyals) to develop civilian and military helicopters in Saudi Arabia with SCOPA Industries Corp. LLC, a local defense organization. In December 2022, Japan, Italy, and the UK governments collaborated to manufacture a combat aircraft that is more advanced than the Eurofighter and US F-35, equipped with high-end sensors and other advanced technologies. In 2022, The UAE Ministry of Defense announced its plan to purchase 12 L-15 aircraft and an additional 36 planes from the Chinese CATIC corporation. Also, the growing number of defense aircraft, helicopters, and unmanned aerial vehicles, which are potential application areas for airborne pods, boosts the market growth in the Middle East & Africa.
Middle East & Africa Airborne Pods Market Revenue and Forecast to 2030 (US$ Million)
Middle East & Africa Airborne Pods Market Segmentation
The Middle East & Africa airborne pods market is segmented into aircraft type, pod type, sensor technology, range, and country.
Based on aircraft type, the Middle East & Africa airborne pods market is segmented into combat aircraft, helicopter, UAVs, and others. The combat aircraft segment held the largest share of the Middle East & Africa airborne pods market in 2022.
In terms of pod type, the Middle East & Africa airborne pods market is segmented into ISR, targeting, and self-protection/countermeasure. The ISR segment held the largest share of the Middle East & Africa airborne pods market in 2022.
Based on sensor technology, the Middle East & Africa airborne pods market is segmented into EOIR, EWEA, and IRCM. The EOIR segment held the largest share of the Middle East & Africa airborne pods market in 2022.
In terms of range, the Middle East & Africa airborne pods market is segmented into short range, intermediate range, and long range. The long-range segment held the largest share of the Middle East & Africa airborne pods market in 2022.
Based on country, the Middle East & Africa airborne pods market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The Rest of Middle East & Africa dominated the Middle East & Africa airborne pods market in 2022.
BAE Systems Plc, L3Harris Technologies Inc, Lockheed Martin Corp, Northrop Grumman Corp, Saab AB, Terma AS, Thales SA, Ultra-Electronics Holdings Ltd, and Raytheon Technologies Corp are some of the leading companies operating in the Middle East & Africa airborne pods market.