China's satellite navigation industry output exceeds 530 billion yuan in 2023: report
Published: May 18, 2024 01:50 PM
A model of the Beidou Satellite Navigation System (Photo: Xinhua)

A model of the Beidou Satellite Navigation System (Photo: Xinhua)

The total output value of China's satellite navigation and positioning service industry reached 536.2 billion yuan ($74.23 billion) in 2023, up by 7.09 percent year-on-year, according to an industry white paper released on Saturday.

The Global Navigation Satellite System (GNSS) and Location Based Services (LBS) Association of China issued this year's white paper on the development of China's satellite navigation and positioning service industry, reported on Saturday.

The association said the supply chain of BeiDou Navigation Satellite System (BDS) applications remains stable, with continuous iteration and upgrade of the BDS-based products such as chips, modules, and antennas. The cost-effectiveness keeps improving, realizing 100-million-scale manufacturing of BDS-based products, strongly supporting the safe and sustainable development of the independent industrial chain and supply chain.

As of the end of 2023, the volume of China's satellite navigation and location service-related companies reached nearly 20,000, and the number of satellite navigation patent applications has crossed 119,000, increased by 4.84 percent year-on-year. 

The Chinese government has placed great emphasis on the satellite internet and navigation industry, concentratedly issued a series of policies related to satellite internet industry especially since around 2021, according to China's industry analysis firm Taibo Research. 

Due to the large number of satellites required to operate increasing navigation and data transmission, China's commercial aerospace sector is speeding up launching capacity expansion and technology development research. 

In 2023, China's commercial aerospace companies completed 26 rocket launch missions, accounting for 39 percent of overall volume of space launch, and the size of China's commercial aerospace market is estimated to surpass 2.3 trillion yuan in 2024, according to China Media Group.

Global Times