The Economic Benefits of Precise Positioning Systems – the Latest Industrial Revolution

Introduction  “The only thing that is constant is change” Heraclitus of Ephesus c. 535 BC-475BC As with recent advances in the fields of biotechnology, materials sciences and computing, the advent of new technologies in the field of geospatial engineering have the ability to radically reshape nearly every facet of human endeavour, creating opportunities for new jobs, new industries and new economies. The ability to integrate satellite and land based navigation positioning systems with three (3) dimensional computer models, real time communication networks and laser and inertial guidance technologies has underpinned a paradigm shift across multiple industries that has been described as the biggest change since the Industrial Revolution. (Caterpillar, 2006) Since its initial development for strictly military purposes,