Light Attack Reconnaissance Aircraft Market Trends

Global Light Attack & Reconnaissance Aircraft Market Overview

The Light Attack & Reconnaissance Aircraft Market Size was valued at USD 1.5 billion in 2022. The Light Attack & Reconnaissance Aircraft market is projected to grow from USD 1.564 Billion in 2023 to USD 2.016 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 4.32% during the forecast period (2023 - 2030). Several prominent players are concentrating on developing their business operations in advancing countries. The jet aircraft fleet is tiring out too quickly, which is the key market driver enhancing market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Light Attack & Reconnaissance Aircraft Market Trends

• Development of business operations in advancing countries is driving the market growth

Light attack and reconnaissance aircraft are used for light counterinsurgency, ground attack, and surveillance operations. Only a few nations can afford to maintain a fleet of conventional military aircraft with heavy armor and high-intensity munitions. Even though many nations need such aerial platforms for defense, they are constrained by their constrained defense budgets. Significant players are expanding their business operations in developing nations, which is anticipated to propel the market's growth for light attack and reconnaissance aircraft during the forecast period. The fleet of jet aircraft is also aging too quickly, which is another factor expected to fuel the market for light attack and reconnaissance aircraft.

Additionally, it is predicted that the fleet of conventional fighters, innovative unmanned aerial vehicles and turboprop-powered light attack aircraft will restrain the market's expansion for these types of aircraft. On the other hand, due to lockdowns and other restrictions imposed by various governing bodies, the operations of many industries have temporarily ceased or are only being carried out by a small number of people. This is further expected to impede the expansion of the market for light attack and reconnaissance aircraft over the timeline.

Additionally, the market for light attack and reconnaissance aircraft will likely have more room to grow in the years to come due to the rising adoption of these aircraft. The market for light attack and reconnaissance aircraft may need help shortly due to the rising costs associated with their installation and maintenance. Thus, driving the Light Attack & Reconnaissance Aircraft market revenue.

Light Attack & Reconnaissance Aircraft Market Segment Insights

Light Attack & Reconnaissance Aircraft Application Type Insights

Based on application type, Light Attack & Reconnaissance Aircraft Market segmentation includes surveillance, reconnaissance, combat, and intelligence. The surveillance segment dominated the market, and the expansion can be attributed to the rise in demand for the hardware and software tools needed for transportation infrastructure. As a result, passengers can access information both physically inside a vehicle and remotely via mobile applications or web browsers has enhanced the Light Attack & Reconnaissance Aircraft market CAGR across the globe in recent years.

Light Attack & Reconnaissance Aircraft Product Type Insights

Based on product type, the Light Attack & Reconnaissance Aircraft Market segmentation includes rotatory-wing and fixed-wing. The fixed-wing segment held the majority share in 2022 concerning the Light Attack & Reconnaissance Aircraft Market revenue. Fixed-wing light attack and reconnaissance aircraft are a class of military aircraft that are used to launch attacks and survey the terrain. Its main duty in any military operation is to provide close air support to infantry, tanks, or other combat vehicles that are engaged in combat. An essential part of every war effort is the fixed-wing light attack and reconnaissance aircraft, which can carry weapons like machine guns, rockets, or bombs on its wings.

Figure 1: Light Attack & Reconnaissance Aircraft Market by Product Type, 2022 & 2030 (USD billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Light Attack & Reconnaissance Aircraft take-off weight Insights

Based on the take-off weight, the Light Attack & Reconnaissance Aircraft Market data includes <6000 pounds and >6000 pounds. The < 6000-pound category generated the most income; the Global 6000 aircraft has a large cabin with room for workstations and mission equipment, class-leading power for mission equipment, almost 17 hours of endurance, and proven reliability with class-leading maintenance intervals, implants for Light Attack & Reconnaissance Aircraft s, positively impacting the market growth.

Light Attack & Reconnaissance Aircraft Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North America Light Attack & Reconnaissance Aircraft market, will dominate due to having the largest UAV fleet used in military and civilian applications. Additionally, during the forecast period, the market for light attack and reconnaissance aircraft will grow due to the increasing acceptance of electric aircraft for urban air mobility.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: LIGHT ATTACK & RECONNAISSANCE AIRCRAFT MARKET SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe’s Light Attack & Reconnaissance Aircraft market is the second-largest market share. This fleet of conventional fighters, along with the innovative unmanned aerial vehicles and turboprop-powered light attack aircraft, will restrain the market's expansion for these types of aircraft. Further, the German Light Attack & Reconnaissance Aircraft market held the largest market share. The UK Light Attack & Reconnaissance Aircraft market was the fastest-growing market in the European region.

As air traffic increases, the Asia Pacific Light Attack & Reconnaissance Aircraft Market is expected to grow at the fastest CAGR from 2023 to 2030. Furthermore, the region's market for light attack and reconnaissance aircraft is anticipated to expand in the upcoming years due to the rising demand for new and advanced aircraft. Moreover, the India Light Attack & Reconnaissance Aircraft market held the largest market share. The China Light Attack & Reconnaissance Aircraft market was the fastest-growing market in the Asia Pacific region.

Light Attack & Reconnaissance Aircraft Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development to expand their product lines, which will help the Light Attack & Reconnaissance Aircraft market grow even more. Market participants are also undertaking various strategic activities to expand their Global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Light Attack & Reconnaissance Aircraft industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Global Light Attack & Reconnaissance Aircraft industry to benefit clients and increase the market sector. The Light Attack & Reconnaissance Aircraft industry has recently offered some of the most significant medical advantages. Major players in the Light Attack & Reconnaissance Aircraft market, including American Technologies Network Corp. (US), Collins Aerospace (US), Meopta Optica S.R.O (Czech Republic), L3 Technologies Inc. (US), Harris Corporation (US), FLIR Systems Inc. (US), BAE Systems plc (UK), Bharat Electronics Limited (India), Thales Group (France) and Elbit Systems Ltd. (Israel) and others, are attempting to increase market demand by investing in research and development operations.

L3 Technologies Inc. (US) specializes in government services, aircraft maintenance and modernization, and C3ISR (command, control, communications, intelligence, surveillance, and reconnaissance) systems. The company also sells electronic systems for use on commercial and military platforms. The DoD, DHS, DoS, DoJ, and other organizations are some of L-3's clients.

Harris Corporation (US), The American technology company Harris Corporation served as a defense contractor, provider of information technology services, and manufacturer of wireless equipment, tactical radios, electronic systems, night vision devices, and both terrestrial and spaceborne antennas for use in the public, private, and commercial sectors. Their areas of expertise included electronic warfare, microwave weapons, and surveillance systems. To create L3Harris Technologies in 2019, it merged with L3 Technologies. The company had an annual revenue of about $7 billion and was headquartered in Melbourne, Florida. It employed about 6,000 people, making it the largest private employer in Brevard County, Florida. The business, which went by Harris Semiconductor from 1988 to 1999, served as Intersil's parent company. 2016 saw Harris ranked by Defense News as one of the top 100 federal contractors. Harris Corporation was ranked by Wired Magazine in January 2015, tied with U. S. The second biggest risk to online privacy and communications are the Marshals Service.

Key Companies in the Light Attack & Reconnaissance Aircraft market include

• American Technologies Network Corp. (US)


• Collins Aerospace (US)


• Meopta Optica S.R.O (Czech Republic)


• L3 Technologies Inc. (US)


• Harris Corporation (US)


• 
  FLIR Systems Inc. (US)
  


• BAE Systems plc (UK)


• Bharat Electronics Limited (India)


• Thales Group (France)


• Elbit Systems Ltd. (Israel)

Light Attack & Reconnaissance Aircraft  Industry Developments

For instance,August 2021 Bangladesh will receive two Mi-171A2 heavy multirole helicopters from the Russian Helicopters Group.

For instance,September 2022 24 helicopters were ordered under the terms of foreign military sales, and the Indian Navy received two MH-60R multi-role helicopters from the US in July 2021.

Light Attack & Reconnaissance Aircraft Market Segmentation

Light Attack & Reconnaissance Aircraft Application type Outlook

• Surveillance


• Reconnaissance


• Combat


• Intelligence

Light Attack & Reconnaissance Aircraft Product Type Outlook

• Rotatory-wing


• Fixed-wing

Light Attack & Reconnaissance Aircraft take-off weight Outlook

• <6000 Pounds


• >6000 Pounds

Light Attack & Reconnaissance Aircraft Regional Outlook

• 
  North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• 
  Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• 
  Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• 
  Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America