DUBLIN, November 2, 2017 /PRNewswire/ --

The "Global Light Attack and Reconnaissance Aircraft Market 2017-2021" report has been added to Research and Markets' offering.

The global light attack and reconnaissance aircraft market to grow at a CAGR of 3.49% during the period 2017-2021 .

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 report also includes a discussion of the key vendors operating in this market.

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.

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.

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.

Key Market Trends

• Development of cheaper export variant aircraft by developing countries
• Focus on development of low-cost ISR aircraft
• Extended strike range of light attack aircraft due to integration of laser-guided rockets

Key vendors

• AIR TRACTOR
• Embraer
• IOMAX USA
• Textron

Other prominent vendors

• AHRLAC
• Hindustan Aeronautics Limited (HAL)
• Hongdu Group.

Key Topics Covered:

Part 01: Executive Summary

Part 02: Scope Of The Report

Part 03: Research Methodology

Part 04: Introduction

Part 05: Market Landscape

Part 06: Market Segmentation By Platform

Part 07: Regional Landscape

Part 08: Decision Framework

Part 09: Drivers And Challenges

Part 10: Market Trends

Part 11: Vendor Landscape

Part 12: Appendix

For more information about this report visit https://www.researchandmarkets.com/research/qqfjl7/global_light

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SOURCE Research and Markets