Home News Business Chinese satellite navigation market to reach USD 35 bn

Chinese satellite navigation market to reach USD 35 bn

Beijing, China: The annual output value of China’s satellite navigation industry will reach more than 225 billion yuan (USD 35.64 billion) in 2015, according to a latest research report by the country’s National Administration of Surveying, Mapping and Geoinformation. The report predicted the industry would become the country’s third new IT economic growth point, after mobile communication and Internet.
More than 5,000 Chinese firms and organisations were now involved in the application and services of satellite navigation and the industry generated more than 50 billion yuan of output value in 2010, according to the report, published by the Social Sciences Academic Press.
China aims to increase the total number of satellite navigation terminals used by the public across the country to 340 million by 2015.
China began to build its Beidou Navigation Satellite System in 2000 with a goal of breaking its dependence on the GPS and creating its own global positioning system by 2020.
The indigenous Beidou system began providing initial positioning, navigation and timing operational services to China and its surrounding areas from late last month.
Six more satellites will be launched in 2012 to further expand its service area to cover most parts of the Asia-Pacific region, according to the management office of the China Satellite Navigation System.
Source: Space Daily