Europe Airborne Pods Market Revenue to cross US$ 934.67 million by 2030

At 4.7% CAGR, Europe Airborne Pods Market is Speculated to be Worth US$ 934.67 Million by 2030, says Business Market Insights

According to Business Market Insights research, the Europe airborne pods market was valued at US$ 646.76 million in 2022 and is expected to reach US$ 934.67 million by 2030, registering a CAGR of 4.7% from 2022 to 2030. Increasing defense spending, growing occurrences of unstable geopolitical scenario and advent of advanced warfare technologies, increasing number of contracts for supply of airborne pods, and increasing procurement of military aircraft and helicopters are among the critical factors attributed to the Europe airborne pods market expansion.

The growing unstable geopolitical scenario worldwide is boosting the demand for advanced sensors, lasers, and self-protection countermeasure systems. The unstable geopolitical occurrences, such as wars between nations, are jeopardizing common life and increasing the national security threat and uncertainties; hence, there is a growing focus on strengthening the defense forces to combat such situations. Advanced intelligence, surveillance, and target systems facilitate the development of a complete and accurate analysis, aiding more precise threat assessments and target encounters. Advanced warfare scenarios emphasize heightened situational awareness, integrated defense systems, improved target engagement, electronic warfare capabilities, and compliance with evolving threats. Thus, the rising adoption of advanced warfare devices and equipment further drives the development of airborne pods to meet advanced battlefield conditions. Moreover, many companies across the globe are focusing on investing in advanced helicopters and unmanned aerial vehicles equipped with airborne pods and devices to tackle modern warfare. Thus, the growing instances of unstable geopolitical scenarios and the proliferation of modern warfare technologies drive the airborne pods market.

On the contrary, technological obsolescence hampers the Europe airborne pods market.

Based on aircraft type, the Europe airborne pods market is segmented into combat aircraft, helicopter, UAVs, and others. The combat aircraft segment held 69.2% share of Europe airborne pods market in 2022, amassing US$ 447.47 million. It is projected to garner US$ 639.56 million by 2030 to expand at 4.6% CAGR during 2022-2030.

In terms of pod type, the Europe airborne pods market is categorized into ISR, targeting, and self-protection/countermeasure. The ISR segment held 50.0% share of Europe airborne pods market in 2022, amassing US$ 323.23 million. It is projected to garner US$ 458.85 million by 2030 to expand at 4.5% CAGR during 2022-2030.

Based on sensor technology, the Europe airborne pods market is segmented into EO/IR, EW/EA, and IRCM. The EO/IR segment held 60.2% share of Europe airborne pods market in 2022, amassing US$ 389.52 million. It is projected to garner US$ 552.46 million by 2030 to expand at 4.5% CAGR during 2022-2030.

In terms of range, the Europe airborne pods market is categorized into short range, intermediate range, and long range. The long-range segment held 44.2% share of Europe airborne pods market in 2022, amassing US$ 285.86 million. It is projected to garner US$ 431.98 million by 2030 to expand at 5.3% CAGR during 2022-2030.

By country, the Europe airborne pods market has been categorized into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Our regional analysis states that Russia captured 33.8% share of Europe airborne pods market in 2022. It was assessed at US$ 218.77 million in 2022 and is likely to hit US$ 305.70 million by 2030, exhibiting a CAGR of 4.3% during 2022-2030.

Key players operating in the Europe airborne pods market are 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, among others.