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 technology.
“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.