China’s Beidou navigation system to serve US$156bil home market by 2025

A file photo of a model of the BeiDou navigation satellites system in Beijing. China’s satellite navigation industry has been growing at a rate of over 20% in value on average each year to exceed 400bil yuan (RM258.46bil) in 2020, Xinhua said, citing data presented at an industry conference in the southern province of Jiangxi. — Reuters

BEIJING: Beidou, China’s answer to the US-owned GPS navigation system, will back domestic products and related services worth 1 trillion yuan (RM646.15bil) by 2025, the official Xinhua news agency said on May 26.

The homegrown Chinese navigation network, completed in June 2020, looks to offer an alternative to the Global Positioning System (GPS) run by the US Air Force, spurring further growth in the domestic satellite market.