Light Attack & Reconnaissance Market in Aircraft Industry by Leading Key Leaders: Air Tractor, Embraer, Textron, BAE Systems, Lockheed Martin, Paramount Group, Hindustan Aeronautics

Market Highlights:

Light attack and reconnaissance aircraft is a lightweight propeller that is deployed for ground attack, light counter-insurgency, and surveillance operations. Military aircraft with heavy armor and high-intensity munitions are generally very expensive, thus very few countries can afford such aircraft. Although this type of aircrafts are a requirement for many countries for their defense, limited defense budgets don’t allow them to do so. Due to lack of low-cost light aircraft, some countries that have very low specification requirement are forced to operate expensive, high-spec aircraft.

This aircraft is ideal for operational requirements of the armed forces and can be deployed in missions such as light attack, close air support, intelligence, armed reconnaissance, surveillance, and basic and primary pilot training. Advancing development of low-cost intelligence, surveillance, and reconnaissance aircraft allows manufacturers to upgrade the quality of light attack and reconnaissance aircraft. Thus, the global light attack and reconnaissance aircraft market is projected to witness approximately 4% CAGR from 2018 to 2024, as extensively reported by Market Research Future (MRFR).

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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 unfolding war scenario globally has shifted the focus of defense forces from heavy firepower toward more agile counterparts. A light attack and reconnaissance aircraft prove to be more effective in both insurgency and counter-insurgency missions. The factors that drive the market growth are greater stress on aerial ISR activities owing to treacherous border security and increasing demand for advancement in the aircraft architecture. The decelerating economy of developing countries who are unable to afford expensive aircraft is also driving the growth of this market. The continuous development of low-cost Intelligence, Surveillance, and Reconnaissance (ISR) aircraft will enable the flight operators to create light attack and reconnaissance aircraft.

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Market Segmentation

The global light attack and reconnaissance aircraft market is segmented on the basis of type, application, take-off-weight, and region.
The market is segmented into device type, which in turn is segmented into fixed wing and rotary wing. The fixed-wing is widely used and comprises the largest share of the market. Fixed wing generates a lift caused by the vehicle's forward airspeed and the shape of the wings. Some fixed-wing aircraft are used by the air force to defend countries.
The market is segmented into application type which is segmented into surveillance, combat, intelligence, and reconnaissance. 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.

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This release was published on openPR.