Global Light Attack and Reconnaissance Aircraft Market 2017-2021

Light attack and reconnaissance aircraft industry opportunities

The global light attack and reconnaissance aircraft market research report identifies that the alternative to heavy and cost-intensive fighter aircraft will be one of the major factors that will have a positive impact on the growth of the market. Many countries around the world are finding it hard to maintain and operate their aircraft though they have a capable portfolio of aerial platforms. These countries are compelled to operate outdated aerial platforms with ineffective qualities in securing the safety and integrity of their country. To counter this, countries are gradually shifting their focus toward light attack and reconnaissance aircraft with low procurement, operational, and maintenance costs. These aircrafts are the fine alternatives to the conventional military aircrafts without lowering their aerial defense capabilities. Technavio’s market research analysts predict that this market will post a revenue of close to USD 11 billion by 2021.

The development of cheaper export variant aircraft by emerging countries is one of the key light attack and reconnaissance aircraft market trends that will contribute to the market growth in the forthcoming years. The rising prices of aircraft manufacture in the developed countries provides a leverage to the emerging countries. Lower manufacturing costs and labor in the developing countries offer the players an advantage to develop aircraft at an inexpensive rate. Though the setup of the platforms will be expensive initially, the platforms will be cheaper compared with their competitors in developed countries. This trend is likely to gain popularity during the forecast period and the aircraft manufacturers are expected select developing countries for the export variants of light attack and reconnaissance aircrafts.

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