A report in Oriental Outlook magazine stated that China's BeiDuo satellite navigation system now covers one third of the globe and could potentially be used by an estimated 4.2 billion people in the Asia-Pacific region, becoming the third mature system after the US GPS and Russian GLONASS. China launched its first BeiDou navigational satellite in 2000, and the BeiDou Navigation Satellite System in 2003, before it officially entered service in 2012.
The value of BeiDou or “Big Dipper,” and related industries, reached 173.5 billion yuan (US$26bn) in 2015, up from 81 billion yuan (US$12bn) in 2012. During the same period, the use of BeiDou-enabled chips hit 100 million, growing from 1 million three years ago.
Cao Chong, an expert with the Global Navigation Satellite System and Location-Based Services Association of China, said the main reason behind the success of BeiDou is its marketization, via China’s burgeoning automotive tech and cell phone industries.
“While State support created BeiDou, its future success will depend on the market,” he said.
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