BeiDou Headed Upwards of 1 Trillion this Decade. That's Yuan. - Inside GNSS - Global Navigation Satellite Systems Engineering, Policy, and Design

BeiDou Headed Upwards of 1 Trillion this Decade. That’s Yuan.

According to a presentation by China’s Satellite Navigation System Management Office, the value of industries related to the country’s BeiDou Navigation Satellite System (BDS) will surpass 1 trillion yuan (about 156.4 billion U.S. dollars) by 2025.

Yang Jun, deputy director of  the office, made the statement during the 12th China Satellite Navigation Conference held in Nanchang, capital of east China’s Jiangxi Province. The conference website is here.

China2China 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. The agency’s measurements of system performance in the first half of this year showed a signal-in-space accuracy of less than 0.5 meters.
More than 7 million commercial vehicles, about 36,300 postal and delivery vehicles, and 350 aircraft in China have been equipped with BDS.

China has made a significant push for mechanized autonomy in all phases of agriculture: more than 45,000 agricultural machines have been equipped with self-driving systems deriving their position and navigation from BeiDou.

The total output value of China’s satellite navigation and location services industry reached 403.3 billion yuan ($64 billion U.S.) in 2020, up 16.9 percent from the previous year, according to a recent industry report.