I am new to the world of Sensors. I wanted to know what would i need to track movement of objects(200 kmph) at high speed and also to monitor rotations(5000 RPM).
I also need to track the exact location across three dimensions relative to other sensors.
What all devices(hardware) and software tools I would need to get started?
Tracking "objects" in three dimensions is usually done with cameras. If you are also tracking the position of "objects" rotating at 5000 RPM you will need very high speed cameras and VERY fast processors.
Meaning: This is not an Arduino question.
I also need to track the exact location
There is no such thing as exact, quantum theory puts a stop to that.
Now what is your real requirement, it seems unlikely you will be able to get anything under a $4000 budget.