Light Attack & Reconnaissance Aircraft Market 2018 Analysis by Global Key Leaders: Air Tractor, Embraer, BAE Systems, IOMAX USA, Textron, Hindustan Aeronautics

Market Highlights:

Light Attack and Reconnaissance (LAAR) aircraft is a lightweight propeller driven aircraft, capable of finding, tracking, and attacking targets either on its own or in support of ground forces.. Military use these aircraft as an effective method for ensuring that airpower is remaining close to the fight. 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. In addition to that, it outperforms turboprop aircraft, in terms of range, endurance, and sensors. This aircraft is rugged enough to sustain minimal damage and capable of transmitting and receiving still and video images. Therefore, significant investment has been done on the development of LAAR aircraft, which would witness a rapid growth during the forecast period.

However, only a few countries can afford to maintain a fleet of such aircraft, as they are priced highly and limited to low threat battlefield missions. The high maintenance required to eradicate the wear and tear during missions puts pressure on the defense budget. This becomes the major restraint of the market. For instance, Israel Aerospace Industries Ltd. (IAI) and Czech Aero signed a partnership agreement relating to technical and marketing cooperation for the military light combat L-159 aircraft. This aircraft is a light multirole combat aircraft designed for a variety of air-to-air, air-to-ground, and reconnaissance missions.

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Major Key Players

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.).

The primary goal for light attack and reconnaissance aircraft is attacking targets in support of ground forces. The increased focus on the development of low-cost Intelligence, Surveillance, and Reconnaissance (ISR) aircraft will enable the flight operators to create light attack and reconnaissance aircraft. The factors responsible for 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. Another key driver contributing to the growth of the global light attack and reconnaissance aircraft market is the increasing demand for continuous innovation in aircraft architecture.

The global light attack and reconnaissance aircraft market is segmented on type, application, take-off-weight, and region. Among device type, the fixed-wing is widely used and comprises the largest share in the market. Among application types, surveillance has the largest demand in the light attack and reconnaissance aircraft market during the forecast period. Surveillance devices are used on a large-scale to detect tracing of suspicious movements of humans at night.

On the basis of region, the market is segmented into North America, Asia Pacific, Europe, the Middle East, and South America. The North America region is expected to dominate the market in future, due to the increased investment in operation and maintenance of light attack and reconnaissance aircraft. The Asia Pacific region is second to the North America region in the global light attack and reconnaissance aircraft market due to increase in collaboration with U.S. counterpart for technology transfer of aircraft architecture technology. Thus, the global light attack and reconnaissance aircraft market is estimated to witness approximately 4% CAGR from 2018 to 2024.

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TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 DEFINITION
2.2.2 RESEARCH OBJECTIVE
2.2.3 ASSUMPTIONS
2.2.4 LIMITATIONS
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
Continued....

LIST OF TABLES
TABLE 1 GLOBAL LIGHT ATTACK AND RECONNAISSANCE AIRCRAFT MARKET: BY REGION, 2018-2024
TABLE 2 NORTH AMERICA LIGHT ATTACK AND RECONNAISSANCE AIRCRAFT MARKET: BY COUNTRY, 2018-2024
TABLE 3 EUROPE LIGHT ATTACK AND RECONNAISSANCE AIRCRAFT MARKET: BY COUNTRY, 2018-2024
Continued....

LIST OF FIGURES
FIGURE 1 RESEARCH PROCESS OF MRFR
FIGURE 2 TOP DOWN & BOTTOM UP APPROACH
FIGURE 3 MARKET DYNAMICS
Continued....

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