PUBLISHER: The Insight Partners | PRODUCT CODE: 1494540
PUBLISHER: The Insight Partners | PRODUCT CODE: 1494540
The North America airborne pods market is expected to grow from US$ 1,215.69 million in 2022 to US$ 1,843.61 million by 2030. It is estimated to record a CAGR of 5.3% from 2022 to 2030.
Deployment of Countermeasure Systems Drive North 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. The tension across nations such as US-China, Russia-Ukraine, India-Pakistan, and Israel-Palestine is compelling their governments to strengthen their armed forces. Hence, the armed forces across different countries are investing in procuring air defense systems such as surface-to-air missile systems, integrated air defense systems, naval defense systems, fighter aircraft, early warning systems, and border surveillance systems. Radar systems are fundamental components of comprehensive air defense systems.
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.
North America Airborne Pods Market Overview
The airborne pods are an external pod structure primarily fabricated to offer enhanced aerial recognition, identification, communication, targeting, data linking, and self-defensive potentials to an aircraft. The growing need for advanced defense systems to cater to modern battlefield requirements is boosting the demand for airborne pods in North America. The growing instances of unstable geopolitical scenarios are also contributing to the growing need for airborne pods in the region. The US is leading the market for airborne pods in North America, followed by Canada and Mexico. In 2020, North America spent US$ 809.7 billion on defense activities; in 2021, the expenditure reached approximately US$ 835.8 billion. In 2022, the military expenditure was recorded to be US$ 912.3 billion. The US is one of the highest military spending countries in the world. The mounting budget for defense expenditure indicates the country's emphasis and importance on modernizing the defense sector to meet the ever-increasing need for security. The defense expenditure includes operation and maintenance, procurement, research, and development, testing and evaluation, and military personnel. In North America, the total military aircraft fleet was recorded to be 14,144 as of 2023. The growing contract of manufacturing military aircraft and helicopters and the increasing proliferation of unmanned aerial vehicles are a few factors contributing to the demand for airborne pods. Thus, the rising application of advanced aerial recognition, detection, identification, communication, and targeting sensors in defense aircraft fuels the airborne pods market in North America.
North America Airborne Pods Market Revenue and Forecast to 2030 (US$ Million)
North America Airborne Pods Market Segmentation
The North America airborne pods market is segmented into aircraft type, pod type, sensor technology, range, and country.
Based on aircraft type, the North America airborne pods market is segmented into combat aircraft, helicopter, UAVs, and others. The combat aircraft segment held the largest share of the North America airborne pods market in 2022.
In terms of pod type, the North America airborne pods market is segmented into ISR, targeting, and self-protection/countermeasure. The ISR segment held the largest share of the North America airborne pods market in 2022.
Based on sensor technology, the North America airborne pods market is segmented into EOIR, EWEA, and IRCM. The EOIR segment held the largest share of the North America airborne pods market in 2022.
In terms of range, the North America airborne pods market is segmented into short range, intermediate range, and long range. The long-range segment held the largest share of the North America airborne pods market in 2022.
Based on country, the North America airborne pods market is segmented into the US, Canada, and Mexico. The US dominated the North America 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, Advanced Technologies Group Inc, and Raytheon Technologies Corp are some of the leading companies operating in the North America airborne pods market.