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Light Attack and Reconnaissance Aircraft Market in Global Aviation Industry 2019: Worldwide Overview By Size, Share, Segments, Growth, Leading Players, Application and Regional Trends By Forecast 2024

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Light Attack and Reconnaissance Aircraft Market in Global Aviation Industry 2019: Worldwide Overview By Size, Share, Segments, Growth, Leading Players, Application and Regional Trends By Forecast 2024

September 18
09:42 2019
Light Attack and Reconnaissance Aircraft Market in Global Aviation Industry 2019: Worldwide Overview By Size, Share, Segments, Growth, Leading Players, Application and Regional Trends By Forecast 2024

Light Attack & Reconnaissance Aircraft Market
Global Light Attack and Reconnaissance Aircraft Market Research Report Covers Historical Market Trends, Current Market Dynamics, Market Valuation by Segmentation as Well as Region, Country-level Analysis for Every Segment, Key Player’s Market Share Analysis, Competitive Landscape and Supply Chain Analysis.

Light attack and reconnaissance (LAAR) aircraft is a lightweight propeller 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, these planes 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 with low specification requirement are forced to operate expensive and high specification-based 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 a 4% CAGR from 2018 to 2024 (forecast period), as extensively reported by Market Research Future (MRFR).

The continuous development of low-cost Intelligence, Surveillance, and Reconnaissance (ISR) aircraft will enable the flight operators to create light attack and reconnaissance aircraft. The factors driving the market growth are greater emphasis on aerial ISR activities owing to border tensions 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 advancement of remote-controlled drones eliminates the need for direct human interference, which prompts the buyers to opt out of procuring manned aircraft.

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The latest popular trend in the market is development of cheaper export variant aircraft by developing economies. Developing countries take advantage of the steep prices of aircraft in developed countries. The relatively lower cost of manufacturing in the developing countries provides them with the lead to develop aircraft at a cheaper rate. Though they are still expensive locally, the platforms will be cheaper compared with their counterparts in developed countries.

Market Segmentation

The global Light Attack and Reconnaissance Aircraft Market is segmented on the basis of type, application, take-off-weight, and region.

By device type, the market is segmented into fixed wing and rotary wing. The fixed-wing segment 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. These fixed-wing aircraft drop bombs on ground targets. Airplanes are also used by the military to see many things on the ground easily. On the other hand, rotary wing aircraft can take off and land vertically, need less space to operate, can fly very slowly at no extra cost, and can hover making them ideal for search and rescue operations.

The market is segmented into application type which is segmented into surveillance, combat, intelligence, and reconnaissance. Surveillance segment commands 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. Military surveillance equipment is used for monitoring of activities and changing environments with the views to support, protect, or direct military personnel. Surveillance equipment can include hidden cameras, closed-circuit television sets (CCTVs), and microphones or bugs. Whereas a reconnaissance aircraft is a military aircraft designed to perform aerial imagery. Their roles include a collection of imagery intelligence, and measurement and signature intelligence.

The market is segmented on the basis of take-off weight, that is >6000lbs and <6000lbs.

Regional Analysis

Geographically, the light attack & reconnaissance aircraft market is spread across North America, Asia Pacific, Europe, the Middle East, and South America.  Among all, the North America region is estimated to be the largest revenue contributor for the market in the future, owing to the increase in investment in operation and maintenance of light attack and reconnaissance aircraft.  For example, the North American Rockwell OV-10 Bronco is an American twin-turboprop light attack and observation aircraft that was primarily a forward air control (FAC) aircraft. Innovations in advanced aircraft technology coupled with its use in defense dvisions such as the U.S. Air Force, the U.S. Marine Corps, and the U.S. Navy. 

The Asia Pacific region is presumed to follow North America 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. For instance, the Royal Thai Air Force had purchased 32 new OV-10C aircraft in the early 1970s for COIN usage. Also, many nations whose armed forces are generally organized for relatively low-level combat operations, light attack aircraft make ideal candidates in exercising air control in the region. Therefore, light attack aircraft market has proven successful in the Asia Pacific countries due to the downgrading of small countries’ requirements for defense capabilities in war scenarios. This has fueled demands for airpower capable of conducting punitive strikes without needing to place ground forces at direct risk in such cases. 

Key Players

The key players in global light attack and reconnaissance aircraft market are IOMAX USA Inc. (U.S.), Air Tractor (U.S.), Embraer (U.S.), Textron (U.S.), AHRLAC (South Africa), Hindustan Aeronautics Ltd (India), and Hongdu Group (China). Agreements and product developments are expected to assist these players in maintaining their market position.

Embraer (ERJ) is about to get into a major joint venture agreement with Boeing (BA). There are talks of creating a new joint venture for Embraer’s commercial jet business that Boeing could control with a majority stake in it.

Ahrlac aircraft, which was built by Paramount and Ahrlac Holdings, has exceeded 300 testing hours and has been followed by a second prototype as the factory prepare for full production of the Ahrlac and its military variant the Mwari. This move will pave the way to Ahrlac being free from export restrictions.

Scope of Report

The report for Global Light Attack and Reconnaissance Aircraft Market of Market Research Future comprises extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

Get More Information on Light Attack & Reconnaissance Aircraft Market Research Report – Forecast to 2024 @ https://www.marketresearchfuture.com/reports/light-attack-reconnaissance-aircraft-market-5925 

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
Table 4 Asia Pacific Light Attack and Reconnaissance Aircraft Market: by Country, 2018-2024
Table 5 Middle East & Africa Light Attack and Reconnaissance Aircraft Market: by Country, 2018-2024
Table 6 South America Light Attack and Reconnaissance Aircraft Market: by Country, 2018-2024
Table 7 Global Light Attack and Reconnaissance Aircraft Market, by Type, by Regions, 2018-2024
Table 8 North America Light Attack and Reconnaissance Aircraft Market, by Type, by Country, 2018-2024
Table 9 Europe Light Attack and Reconnaissance Aircraft Market, by Type, by Country, 2018-2024
Table 10 Asia Pacific Light Attack and Reconnaissance Aircraft Market by Type, by Country, 2018-2024

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List of Figures

Figure 1 Research Process of Mrfr
Figure 2 Top Down & Bottom Up Approach
Figure 3 Market Dynamics
Figure 4 Impact Analysis: Market Drivers
Figure 5 Impact Analysis: Market Restraints
Figure 6 Porter’s Five Forces Analysis
Figure 7 Value Chain Analysis
Figure 8 Global Light Attack and Reconnaissance Aircraft Market Share, by Type, 2016 (%)
Figure 9 Global Light Attack and Reconnaissance Aircraft Market, by Type, 2015-2024 (Usd Million)
Figure 10 Global Light Attack and Reconnaissance Aircraft Market Share, by Application, 2016 (%)

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