GLOBAL VALUE OF REMOTE SENSING PRODUCTS TO REACH $12.4 BILLION IN 2017 Wellesley, Mass.

In a recent release, REMOTE SENSING TECHNOLOGIES AND GLOBAL MARKETS (IAS022C) from BCC Research (www.bccresearch.com), the global value of remote sensing products is estimated to be $9.1 billion in 2012, and is expected to be $12.4 billion in 2017, increasing at a compound annual growth rate (CAGR) of 6.4%. The global market for remote sensing products can be broken down into four segments by platform type space-based, airborne, terrestrial, and aquatic. The space-based segment will account for a projected $3.6 billion in 2012, and in 2017 the segment should be worth $5 billion, a CAGR of 6.8%. The airborne segment is expected to be worth $2.6 billion in 2012 and should be worth $3.1 billion in 2017, a CAGR of 5.5%. The terrestrial segment, expected to be worth $2.2 billion in 2012, should be worth $3 billion in 2017, a CAGR of 6.4%. The aquatic segment, estimated to be worth $700 million in 2012, should be worth $1 billion in 2017, a CAGR of 7.4%. Sensors are devices that convert natural forces into electronic signals that can be processed in ways that yield useful information and are a well-established branch of electrical engineering. Originally developed for military and intelligence-gathering applications, remote sensing technology makes it possible to examine objects and phenomena using only the targets emitted or reflected radiation. Remote sensing has continued to evolve as one of the most powerful, dynamic, and useful analytic tools of modern science. In recent years remote sensing has moved further from its technological roots as instrumentation for space exploration and Earth observation into the commercial mainstream. Customers of remote sensing products today include not only the disciplines core constituency in the defense and geophysical communities, but also hundreds of millions of individuals who rely upon the technology for personal and business decision-making. While the global financial crisis triggered by the 2008 recession reduced the demand for remote sensing products in 16 of 20 application areas, that setback proved to be short-lived. One reason for this is the migration of numerous remote sensing products to portable access devices, such as smart phones and tablet computers. Another reason is the enormous productivity increases that remote sensing products bring to municipal and county government operations.

This study will be of interest to executives and investors in industries serving the remote sensing market, and manufacturers and marketers of remote sensing instruments and platforms. It will be equally useful for decision-makers for national and state governments, multinational organizations, and nongovernmental organizations. SUMMARY FIGURE VALUE OF REMOTE SENSING PRODUCTS, BY PLATFORM, 2011-2017 ($ BILLIONS)

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