Transparency Market Research: LIDAR Market to Hit $605M by 2020

market researchA new Transparency Market Research report forecasts the LIDAR market to reach $605.5 million by 2020 from $225 million in 2013 and be driven by growing demand for three-dimensional imagery from government, commercial and consumer clients.

The report indicates that the transmission lines segment is poised to achieve “robust growth in the forthcoming years,“ Transparency Market Research said Thursday.

Transparency Market Research said it expects North America to dominate the global LIDAR market as government support and high spending on research and development would drive defense application of LIDAR technology.

The report profiles Quantum Spatial, Firmatek, Optech and Mosaic 3d as the tier-one market players, with focus on new product development.

Transparency Market Research's report sets the global LIDAR market's compound annual growth rate at 15.3 percent from 2014 through 2020.

You may also be interested in...

CGI

CGI Granted FedRAMP Authorization for Momentum Enterprise Suite

CGI announced on Friday that its Momentum enterprise suite software as a service (SaaS) has been authorized for the Federal Risk and Authorization Management Program (FedRAMP) by the Joint Authorization Board (JAB), enabling the company to work within the cloud at federal agencies. JAB granted CGI the authorization after a six-month certification process.

Keysight

Keysight to Deliver Kits for USAF’s Automatic Test Station

Keysight Technologies has secured a five-year, $39.8 million contract to provide the U.S. Air Force with tools needed to support automatic testing. USAF will gain access to Keysight's test and measurement products for Versatile Diagnostic Automatic Test Station updates and production activities.

USS John C. Stennis

HII to Begin USS John C. Stennis Carrier Modernization Work

Huntington Ingalls Industries is set to commence a four-year project to modernize the USS John C. Stennis nuclear powered aircraft carrier at the company's shipyard in Newport News, Virginia. The CVN 74 supercarrier will be the seventh ship of the U.S. Navy's Nimitz class to undergo a midlife refueling and complex overhaul process, HII said Thursday.