On July 15, 2005 at 1510 eastern daylight time a Cessna 525A, N3ST, registered to Beehawk Aviation Inc., operating as a 14 CFR Part 91 business flight, collided with a localizer antenna during a go-around at Newnan Coweta County Airport, Newnan, Georgia. Visual meteorological conditions prevailed and an instrument flight rules flight plan was filed. The airplane received substantial damage. The airline transport rated pilot and four passengers reported no injuries. The flight originated from Venice, Florida, on July 15, 2005, at 1345. The pilot stated he obtained a computer weather briefing before departing Venice, Florida. No thunderstorms or rain was forecast for the destination airport. The pilot was cleared by Atlanta Center to descend to11,000 feet. The pilot listened to the Aviation Weather Observation Service for Newnan, Georgia, and there was no report of thunderstorms or rain showers in the vicinity. The pilot requested a visual approach from the controller. The controller informed the pilot to intercept the localizer for runway 32 and informed the pilot their was weather to his front. The pilot observed the weather at 25 miles on his radar screen. When the flight was 10 miles from the locator outer marker the controller asked the pilot if he wanted to continue with the visual approach. The pilot stated no and was cleared for the localizer runway 32 approach. The pilot lowered the flaps to 15-degrees, upon reaching the locator outer marker lowered the landing gear was lowered, and the airspeed was reduced to 125 knots. When the airplane was 5 miles from runway 32, the pilot observed rain showers crossing the final approach course; however the runway remained in sight. The pilot slowed the airplane to 115 knots and crossed through and out the other side of the rain shower while descending through 200 feet. The airplane touched down on runway 32 at the 1,000-foot marker. The pilot lowered the flaps to 60 and brakes were applied and the airplane started to hydroplane. The airplane began to drift nose right and left rudder was applied. The hydroplaning increased so the pilot released the brakes. The airplane slowed to 78 knots and the airplane continued to hydroplane. The pilot applied brakes again and the airplane continued to hydroplane. The pilot initiated a go-around with 2,300 feet of runway remaining. The flaps were raised to 15-degrees and the thrust levers were set for take off. The airspeed increased to 80 knots and the airplane continued to hydroplane for the next 500 to 800 feet. The pilot could see the end of the runway approaching and observed the localizer antennas off the departure end of the runway. The pilot rotated the airplane, and the airplane became airborne 300 feet from the end of the runway. The airplane was slow to climb and the pilot informed his front seat passenger that the airplane was going to collide with the localizer antennas. The airplane collided with the antennas on leading edge of the right wing and left gear door. The pilot continued the climb to traffic pattern altitude and checked the airplane for responsiveness and damage. At the same time he called the fixed base operator and informed him he was going to make a low pass down runway 14 and asked them to check for damage. He made the low pass and was informed by personnel on the ground that everything seemed ok. The pilot landed the airplane with out further incident. Review of airport information revealed the Newnan asphalt runway is 5, 500 feet long and 100 feet wide. According to the Airport Manager the runway is in good condition and is crowned in the middle for water drainage. Additional crowning is scheduled to be added to the airport in August 2005. The runway is not grooved and there are no plans to groove the runway. Review of information obtained from Aeronautical Learning Laboratory For Science Technology And Research, Hydroplaning is a condition that can develop whenever a tire is moving on a wet surface. The tire squeezes water from under the tread generating water pressures which can lift portions of the tire off the runway and reduce the amount of friction the tire can develop. On a runway contaminated by rain or wet snow, it can be possible for an airplane to accelerate to take-off speed and then to stop on the runway in an aborted take-off. During landing, deceleration and stopping an airplane can be similarly compromised.