The value of industries related to China's homegrown BeiDou Navigation Satellite System is estimated to exceed 1 trillion yuan (about $156.4 billion) by 2025, said an official with the country's satellite navigation administration.

The figure was revealed by Yang Jun, deputy director of China's Satellite Navigation System Management Office, at the three-day 12th China Satellite Navigation Conference that opened Wednesday in Nanchang, capital of East China's Jiangxi province.

China has fostered a complete and independent industrial chain for developing BDS and has exported BDS-powered products to more than 120 countries and regions, Yang said.

He added that based on BDS's performance index in the first half of this year, the system is functioning well with a signal-in-space accuracy of less than 0.5 meters.

To date, more than 7 million commercial vehicles, about 36,300 postal and delivery vehicles, and 350 aircraft in China have been equipped with BDS, according to data provided by Yang.

BDS has also empowered the self-driving system of more than 45,000 agricultural machineries nationwide, helping slash human exertion in the sector.

The total output value of China's satellite navigation and location services industry reached 403.3 billion yuan in 2020, up 16.9 percent from the previous year, according to a recent industry report.

Source: Xinhua News Agency

Related Links
BeiDou Navigation Satellite System
GPS Applications, Technology and Suppliers

Thanks for being here; We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain. With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords. Our news coverage takes time and effort to publish 365 days a year. If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor $5 Billed Once credit card or paypal		SpaceDaily Monthly Supporter $5 Billed Monthly paypal only

Global navigation satellite system technology needs proper protection
Beijing (XNA) May 21, 2021
Global Navigation Satellite Systems (GNSS) such as GPS, the European Galileo system, or indeed China's own BeiDou are a testament to the powerful global services that large superpowers can offer the world. Such potent navigational software that can pinpoint a location down to several centimeters from space are invaluable for everyday life, and are embedded into our smartphones, cars and even now our watches and fridges. However, there is caution around overreliance on such technology as we h ... read more

Read more from original source...