Abstract: A system for real-time asset recognition and location includes an image capture and recognition system having a plurality of image capturing devices for capturing image data of an area surrounding a railroad track and a position determination system for determining a position of assets in the area surrounding the track. A processor analyzes captured image data and recognizes assets and correlates a determined position with each recognized asset. The system recognizes assets and determines positions of assets in real-time as the system is transported along a railroad track by a survey vehicle. The captured and analyzed data is stored to a data storage unit for immediate use in updating a railroad asset data base, subdivision files, or positive train control (PTC) files.