DUBLIN /BUSINESS WIRE/ -- Research and Markets has announced the addition of the "Global Remote Sensing Technology Market 2011-2014" report to its offering.
Analysts of TechNavio forecast the global remote sensing technology market to grow at a CAGR of 6.6% over the period 2011–2014. One of the key factors contributing to this market growth is the increasing adoption of remote sensors in various industries. 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.
The report covers the Americas, and the EMEA and APAC regions. It also covers the global remote sensing technology market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors dominating this market space include Lockheed Martin Corp., General Dynamics Corp., Northrop Grumman Corp., and Raytheon Co.
Commenting on the report, an analyst from TechNavio's Enterprise Applications team said, "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 onboard 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.
According to the report, data users are appraising the replacement of multispectral data with hyperspectral data. 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.