25 June 2021, Friday, 07:28 147

China's Beidou-related industry estimated to top 1 trln yuan by 2025

Редактор: Тимофій Борзенко

BeiDou Navigation Satellite System. Photo by Xinhua.

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

The figure was revealed by Yang Jun, deputy director of China's Satellite Navigation System Management Office, at the China Satellite Navigation Conference.

Visitors learn about an unmanned driving system based on the BeiDou Navigation Satellite System at an exhibition. Photo by Xinhua/Peng Zhaozhi.

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.

People try an electric vehicle using the BeiDou Navigation Satellite System (BDS). Photo by Xinhua/Peng Zhaozhi.

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.