The correct answer is option 1: A pilotless target aircraft.

The meaning of ‘Lakshya’ in Indian defense context refers to a pilotless target aircraft.

Option 2, a supersonic cruise missile, is incorrect. A supersonic cruise missile is a different weapon system altogether, used for offensive purposes, while ‘Lakshya’ is mainly used as a target for training and testing of missile systems.

Option 3, a medium-range surface-to-surface missile, is also incorrect. Again, ‘Lakshya’ is not a missile but a target aircraft.

Option 4, a light combat aircraft, is unrelated to ‘Lakshya’. A light combat aircraft is a different type of weapon system used for combat missions by the Indian Air Force.

Therefore, the correct answer remains option 1, as ‘Lakshya’ is indeed a pilotless target aircraft.