Light Attack And Reconnaissance Aircraft Market Size Expected To Grow At A CAGR 4 % Over

Key Players

The key players in global light attack and reconnaissance aircraft market are Air Tractor (U.S.), Embraer (U.S.), IOMAX USA Inc. (U.S.), Textron (U.S.), AHRLAC (South Africa), Hindustan Aeronautics Ltd (India), Hongdu Group (China), BAE Systems (U.K.), Paramount Group (South Africa) and Lockheed Martin (U.S.).

Global Light Attack And Reconnaissance Aircraft Market Projected To Witness A CAGR Of Around 4% From 2018 To 2024.

Market Highlights:

Light attack and reconnaissance aircraft is a lightweight propeller driven aircraft capable of finding and attacking targets, either on its own or in support of ground forces. This aircraft is intended to support different operational requirements of the armed forces and can be deployed in missions such as close air support, light attack, intelligence, surveillance, armed reconnaissance, and basic and primary pilot training. The increased focus on the development of low-cost intelligence, surveillance, and reconnaissance aircraft will enable manufacturers to improve the quality of light attack and reconnaissance aircraft. The factors that drive the growth of the global light attack and reconnaissance aircraft market are greater emphasis on aerial ISR activities due to security concern on border security and increasing demand for continuous innovation in the aircraft architecture. However, the shortcoming in the light attack and reconnaissance aircraft market is that very few countries can maintain a fleet of such aircraft due to their cost and limitations to low threat battlefield missions.

On the basis of region, the market is segmented into North America, Asia Pacific, Europe, the Middle East, and South America. In the North America region, there is increased investment in operation and maintenance of light attack and reconnaissance aircraft. In the Asia Pacific region, regional players are collaborating with the U.S. companies to enhance their capabilities in terms of aircraft architecture. For instance, Mwari is created by the formation of a partnership between Paramount and Boeing. The aircraft have included several defensive measures, including a Missile Approach Warning System (MAWS), a Radar warning receiver (RWR), and chaff and flare dispensers. The market for light attack and reconnaissance aircraft is estimated to witness a 4% CAGR during the forecast period.

Drivers:

The scope of the Report

This study provides an overview of the Global Light Attack and Reconnaissance Aircraft Market, tracking four market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for America, Europe, Asia Pacific (APAC), Middle East Africa and South America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the Global Light Attack and Reconnaissance Aircraft market by its fuel type, vehicle type, and region.