Rescue teams are using high-tech equipment in their search for millionaire adventurer Steve Fossett, as friends remain hopeful the 63-year-old aviation record-holder will be found safe.

Fossett was last seen Monday at 8:45 a.m. local time at a ranch south of Smith Valley in western Nevada, before he left in a single-engine plane.

Nevada National Guard planes and helicopters are using infrared cameras to locate his plane in the state's rugged terrain.

Meanwhile, his friend Sir Richard Branson, the U.K. billionaire who has helped finance many of Fossett's daredevil escapades, said he is working with Google Inc. to study satellite images of the area for clues.

He told The Associated Press the images could help determine the plane's direction and "whether there was anything unusual."

Three airplanes and one helicopter took off on the search shortly after sunrise on Wednesday, said Gary Derks, operations officer for the Nevada Division of Emergency Management.

The winds had diminished from Tuesday's heavy gusts and turbulence. Those conditions prevented pilots from flying low or close to mountain peaks.

The calmer winds were expected to "definitely help us put more aircraft in the air and hopefully make the search more successful," Derks said.

Fossett was scouting dry lake beds in his aircraft in the area to find a location suitable to attempt a world land speed record.

The adventurer is known for setting five world records for non-stop circumnavigations of the globe in hot air balloons, airplanes, gliders and sailboats.

It was not known if Fossett was in possession of a survival kit as he had planned a short flight.

When Fossett didn't return at noon on Monday, as scheduled, the Flying M Ranch sent out its own search planes. Fossett was reported missing to the authorities on Monday evening when the search proved unsuccessful, Civil Air Patrol Maj. Cynthia Ryan said Tuesday.

An aerial search conducted by 14 aircraft over western Nevada and eastern California that lasted until 11 p.m. Tuesday night, combed 19,000 square kilometres searching for the adventurer.

"It is a very large haystack, and an airplane is a very small needle, no doubt about it,'' Ryan said.

Searchers have had little information to go on as Fossett did not file a flight plan, according to Federal Aviation spokesman Ian Gregor.

Despite the challenges in the search for the adventurer, there is hope for a positive outcome.

Fossett is considered a very experienced pilot and while his plane is quite capable of performing tricks, he is known to be a very cautious pilot who would avoid risky moves.

"Steve is a tough old boot. I suspect he is waiting by his plane right now for someone to pick him up," Branson told the Associated Press. "Based on his track record, I feel confident we'll get some good news soon."

Fossett's plane, a Bellanca Citabria Super Decathlon, carries a locator that sends a satellite signal after a rough landing. However, a signal has yet to be received, which is positive news according to Miller.

"Those things fail very, very rarely, so again what we're just hoping is that he's sitting safe and sound."

With files from The Associated Press