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By 1944 the Luftwaffe was no longer capable of guaranteeing the needed air superiority for the strike aircraft. Imagine a couple of squadrons of Hs 129s on the Western front in the summer/fall of 1944. Even with Two squadrons of 109s/190s for every squadron of Hs 129s for escort the Allied fighters, available in much greater numbers, would have made the record of the Hs 129 resemble that of the fairly battle in 1940.That doesn't prevent a modern day A-10 from performing CAS. Why should the WWII era Hs-129 be any different?
As for engines....
The historical Hs-129 program got crumbs for resources. Hence the use of French manufactured engines. If the Hs-129 had a higher priority it could have been designed for a pair of 950hp BMW132 radial engines. The BMW132 was inexpensive to produce, reliable and in mass production by the mid 1930s. These more powerful engines would also give the aircraft better aerial performance.
The ineffectiveness of air attack against tanks should have caused no surprise because the weapons available to the fighter-bombers were not suitable for destroying them. Put simply, the heavy machine guns and 20 mm cannon were capable of hitting the tanks easily enough, but insufficiently powerful to damage them, except occasionally by chance. The RPs and bombs used were certainly capable of destroying the tanks but were too inaccurate to hit them, except occasionally by chance.
Experience showed that the best way of knocking out tanks was to use a cannon powerful enough to penetrate the armour.
That doesn't help an infantry unit about to be over run by an enemy armored force. They need CAS that can kill tanks on the battlefield.best way to knock out tanks and other AFV was to knock out the supplies needed by them to operate.
P47s and Typhoons were ineffective at destroying tanks. If you cannot accomplish the primary mission then survivability is a moot point. Anthony Williams sums up the issue nicely.
The Ju-87G was a viable alternative to the Hs-129. Makes me wonder why the Hs-129 tank buster was built at all. RLM could have purchased cannon armed Ju-87s from the late 1930s onward rather then designing the Hs-129 and producing it in small numbers.