Remote sensing technology market to grow at CAGR of 6.6% by 2011-2014

Telecom Lead India: The global remote sensing technology
market is expected to grow at a CAGR of 6.6 percent over the period 2011-2014,
due to increasing adoption of remote sensors in various industries.


Lockheed Martin, General Dynamics, Northrop Grumman, and
Raytheon are the key vendors dominating the current market space.


The global remote sensing technology market has also been
witnessing advancement in aerial remote sensing technology. However,
inconsistent, or highly variable, governmental policies could pose a challenge
to the growth of this market, according to Research and Markets.


According to the report, data users are appraising the
replacement of multispectral data with hyper spectral data.


The report suggests that growth will be seen in the key
areas of hyperspectral, SAR, and LIDAR for aircraft, especially as sensor
systems develop the capability to provide low-cost, broad area coverage.
Hyperspectral sensor systems in advancement will offer automated feature
detection, identification and classification. Diverse markets, such as defense,
agriculture and forestry, all benefit from the change in detection


There is an evident transition, in aerial remote
sensing, to digital sensor technologies, which are capable of elevation collection
and direct geo-registration. This transition has resulted in new markets for
infrastructure inventory and analysis, and urban mapping. During the past few
years, sensor technologies are becoming more and more diverse. Digital aerial
cameras that come with inertial measurement and on-board GPS provide easy
access to geo-located information. This will assist in opening up new markets,
especially where pricing has limited acceptance of remotely sensed
information,” said an analyst from TechNavio’s Enterprise Applications team.


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