The typical combat modes of two-fighter cooperation for Air-to-Air Missile (AAM) guidance in target attacking are summarized, and the key realization process of two of the most important cooperative modes is discussed. A contrastive analysis is made to the target indication models of the cooperative launching/guidance and the single-fighter launching/guidance. It is shown that the target indication error in the situation of cooperative guidance is increased. The realization of cooperative guidance is at the expense of some guidance precision, but it can greatly improve the operational efficiency of the fighter planes at the same time.