Hood Tech Likely to Continue Growth

Aug. 11, 2011 - PRLog -- Press Release
From:  Hood Tech Corp Vision, Inc., Hood River, Oregon
Date:  August 11, 2011
Subject:  Hood Tech Likely to Continue Growth
Contact:  Dr. Lars Bergstrom, Hood Tech Corp, Vision Inc. (AltiCam Vision), 541-490-9909, lars@hoodtech.com

Hood Tech Corp. Vision, Inc. (Hood Tech), headquartered in the small town of Hood River, Oregon, is likely to continue to grow, thanks to projections of the overall growth of the market for unmanned aircraft (UAVs) and the sensors they carry.  Hood Tech provides stabilized camera systems to small UAVs, notably the ScanEagle and Integrator platforms (http://www.alticamvision.com/), and according to a recent study by the Teal Group Corporation, published in the Earth Imaging Journal (http://eijournal.com/uncategorized/uav-market-set-for-10-years), the UAV market is poised for 10 years of growth.

Hood Tech products are featured prominently in the article, which begins with a photograph of the launch and retrieval systems developed and manufactured by Hood Tech Corp. Mechanical, Inc., a sister company of Hood Tech Corp. Vision, Inc.  The Earth Imaging article opens with this statement, “Unmanned aerial vehicles (UAVs) make up the aerospace industry’s most dynamic growth sector. UAV spending is on pace to double during the next decade from current worldwide expenditures of $5.9 billion annually to $11.3 billion, totaling just more than $94 billion, as detailed in a recent Teal Group market study: World Unmanned Aerial Vehicle Systems—2011.”

Well-positioned by past success in developing and manufacturing stabilized camera systems that contain optical and infrared imaging, Hood Tech Corp. Vision, Inc. is expected to be a major contributor (particularly in the small tactical unmanned aircraft systems—STUAS—sector) over the next several years, about which the authors write, “The UAV electro-optical/infrared sensors (EO/IRS) system market has entered a period of continuing steady growth. Teal Group estimates that U.S. spending alone on such systems will grow from $813 million in fiscal year 2011 to nearly $1.7 billion in fiscal year 2020”, a more than two-fold increase in nine years.  Despite an expected “…lull in UAV electro-optics funding during the next year or two, as funding for several new programs declines and full-rate production ramps up”, the market bodes especially well for Hood Tech, with a newly developed system, the Alticam 11 EOIR2 featuring optical and infrared cameras, as well as a full range of scan, pan, tilt, and zoom capability, already prototyped and ready for production.  This system matches with the prediction that “…development and production of increasingly sophisticated sensors for smaller tactical and mini/micro/nano UAVs”, along with “…sensors for the U.S. Air Force Reaper and U.S. Army Grey Eagle” (large UAVs) will “…drive continued growth”.

Hood Technology (http://www.hoodtech.com/) was founded by Dr. Andy von Flotow in Hood River in 1993.  In addition to camera systems for UAVs, Hood Technology develops, tests, and manufactures launch and retrieval systems for UAVs and monitors blade vibrations in industrial turbines and jet engines, a diagnostic method for predicting possible future failures.

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Hood Technology Corp. Vision, Inc. (Hood Tech) designs and manufactures imaging and video processing systems for manned and unmanned aerial vehicles (UAVs), boats, land vehicles, and stationary mounts.