Satellite sector to boom

Source:Xinhua-Global Times Published: 2013-9-25 0:18:01

The annual product value of China's satellite navigation and location service industries will exceed 225 billion yuan ($36.6 billion) in 2015, a white paper predicted Tuesday.

By 2020, when China is expected to expand its home-grown regional BeiDou Navigation Satellite System to conduct global coverage, the industries' annual product value will hit 400 billion yuan, with 800 million users, according to the white paper released by the Global Navigation Satellite System and Location Based Service Association of China.

However, such products grossed 81 billion yuan in 2012, less than 8 percent of the global share, the paper said.

Xinhua-Global Times

Posted in: Industries

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