Global Light Attack and Reconnaissance Aircraft Market 2017-2021
About Light Attack and Reconnaissance Aircraft
Light attack and reconnaissance aircraft are deployed for light counter-insurgency, ground attack, and surveillance operations. Conventional military aircraft with heavy armor and high-intensity munitions are very expensive, and only a few countries can afford to maintain a fleet of such aircraft. Although many countries require such aerial platforms for their defense, they are constrained by their limited defense budgets. Some countries have very low specification requirement but are forced to operate expensive, high-spec aircraft due to the lack of low-cost light aircraft. Adoption of light attack and reconnaissance aircraft is a viable option for such countries.
Technavio’s analysts forecast the global light attack and reconnaissance aircraft market to grow at a CAGR of 3.49% during the period 2017-2021 .
Covered in this report
The report covers the present scenario and the growth prospects of the global light attack and reconnaissance aircraft market for 2017-2021 . To calculate the market size, the report considers the new developments and procurements of light attack and reconnaissance aircraft by the defense agencies of countries.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Light Attack and Reconnaissance Aircraft Market 2017-2021
Technavio recognizes the following companies as the key players in the global light attack and reconnaissance aircraft market: AIR TRACTOR, Embraer, IOMAX USA, and Textron
Other Prominent Vendors in the market are: AHRLAC, Hindustan Aeronautics Limited (HAL), and Hongdu Group.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Development of cheaper export variant aircraft by developing countries. Emerging countries have been observed to take advantage of the increasing prices of aircraft development in developed countries. The relatively lower cost of manufacturing and labor in the developing countries provides them with the edge to develop aircraft and other platforms at a cheaper rate. Though the platforms will be expensive for native use, the platforms will be cheaper compared with their counterparts in developed countries. It is expected that the developed countries will opt for the export variants of such aircraft from developing countries and hence, promote the development of aircraft platforms for export.”
According to the report, one of the major drivers for this market is Decelerating economy of developing countries. Conventional military aircraft are designed for very high performance and hence, are very expensive in terms of purchase, operation, and maintenance. Very few countries have the adequate defense budgets to procure and maintain a fleet of such aircraft in required numbers. Countries with relatively limited funding are unable to procure the required number of high-end and sophisticated attack aircraft to sustain an efficient and effective defense force. Meanwhile, many countries have been forced to cut down their defense budgets due to their slowing economic growth. Such countries are struggling to implement major aircraft procurement programs and hence, are not able to counter certain military situations adequately.
Further, the report states that one of the major factors hindering the growth of this market is Development of substitutes. The development of remote-controlled drones that eliminate the need for direct human interference can encourage the buyers with light attack and surveillance requirements to opt out of procuring manned aircraft. Earlier, drones were primarily developed for surveillance purposes with optronic payloads. However, the later versions include either onboard weapons such as machine guns and missiles or laser target designators for a remote weapon station. MQ-1 Predator is one of the first aerial surveillance drones with the bubble-shaped optical payload near the nose of the drone. It is developed by General Atomics and used primarily by the USAF and Central Intelligence Agency (CIA). The drone was initially equipped with cameras and other sensors for aerial surveillance and reconnaissance but was later upgraded to accommodate munitions such as AGM-114 Hellfire missiles.
AIR TRACTOR, Embraer, IOMAX USA, Textron, AHRLAC, Hindustan Aeronautics Limited (HAL), and Hongdu Group.
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