Remote sensing products generated $7 bln in 2006

Total global market expenditures for remote sensing products was more than $7 bln in 2006 and will reach almost $7.3 bln in 2007. At a compounded annual growth rate (CAGR) of 6.3%, the market will grow to more than $9.9 bln by 2012. Weather forecasting holds the highest share of the market throughout the forecast period, hovering at approximately 38% of the total global market through 2012. Public health applications hold the highest growth potential through the forecast period. These products will be worth $402 mln in 2007 and grow at a CAGR of 10.9% to reach $675 mln in 2012, BCC Research says.