Global Market For Remote Sensing Technologies To Be Worth $11 Billion In 2014
December 04, 2009
Wellesley, Mass. – According to a new technical market research report, REMOTE SENSING TECHNOLOGIES AND GLOBAL MARKETS (IAS022B) from BCC Research (www.bccresearch.com), the global market for remote sensing technologies is an estimated $8.2 billion in 2009, but is expected to increase to $11 billion in 2014, for a 5-year compound annual growth rate (CAGR) of 6.1%.
The largest segment of the market, space-based platforms, is estimated to be worth $3.3 billion in 2009, and is expected to increase at a CAGR of 5.9% to reach $4.4 billion in 2014.
The second-largest segment, airborne platforms, is expected to reach $6.2 billion in 2014, after increasing at a CAGR of 6.2% from an estimated $2.3 billion in 2009.
Revenue in the terrestrial-based platforms is expected to be $2 billion in 2009, and rise to $2.6 billion in 2014, for a 5-year CAGR of 5.4%.
The smallest segment, aquatic-based platforms, is estimated at $600 million in 2009, and is projected to increase at a CAGR of 8.4% to $900 million in 2014.
VALUE OF REMOTE SENSING PRODUCTS, BY PLATFORM, 2008-2014
Source: BCC Research
Originally developed for military and intelligence-gathering applications, remote sensing technology makes it possible to examine objects and phenomena using only the target’s emitted or reflected radiation. In this report, BCC describes the technology used in 20 applications that correspond to the 20 robust markets that account for virtually all of the demand for commercial remote sensing products.
Although depressed as the result of the recession, which began in the last quarter of 2007 and which was exacerbated by the mortgage crisis and global financial crisis that took hold in 2008 and continued into 2009, BCC anticipates a rapid rebound. This hopeful attitude stems from the more rapid than expected recovery of economies in Europe and the massive infrastructure spending programs begun in the U.S. and Communist China. In the U.S., the funding for Geographic Information Systems (GIS) and expanded research into global warming will further stimulate growth.
This study will be of interest to market planners in industries serving those 20 application areas that define the remote sensing market. it will be equally useful for those working in or with multinational organizations, national and state governments, and nongovernmental organizations (NGOs), and those involved with efforts to build or expand GIS.
Remote Sensing Technologies and Global Markets( IAS022B )
Publish Date: October 2009
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