China’s BeiDou creates $31.5 bn in turnover for customers

China’s BeiDou creates $31.5 bn in turnover for customers

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China: China’s navigation satellite system BeiDou launched commercial operations only two years ago, but is already racking in big bucks for its clients. Miao Qianjun, secretary-general of the Global Navigation Satellite System and Location-based Services Association of China, or GLAC, has told China Daily, “"The system will help create 200 billion yuan ($31.5 billion) in turnover for its customers this year.” The system’s clients include China Aerospace Science and Industry, AutoNavi Holdings, and China North Industries Group. GLAC has estimated that annual turnover for BeiDou will reach $63 billion by 2020.

Source: China Daily