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China’s satellite navigation industry sees sound recovery in 2020

Abstract : The total output value of China's satellite navigation and location services industry reached 403.3 billion yuan (about 62.75 billion U.S. dollars) in 2020, up 16.9 percent from the previous year, according to an annual report.

BEIJING, May 18 (Xinhua) — The total output value of China’s
satellite navigation and location services industry reached 403.3
billion yuan (about 62.75 billion U.S. dollars) in 2020, up 16.9 percent
from the previous year, according to an annual report.

The data was published in the White Paper on the Development of
China’s Satellite Navigation and Location Services Industry (2021),
which was released by the GNSS (global navigation satellite system)
& LBS (location-based service) Association of China on Tuesday.

The industry’s core sectors, which are directly related to the
development and application of satellite navigation technology, include
chip, device, algorithm, software, navigation data, terminal equipment
and infrastructure.

These sectors reported 129.5 billion yuan in output value, a
year-on-year increase of 11 percent, accounting for 32.11 percent of the
industry’s total.

The related output value of satellite navigation applications and
services increased by 19.9 percent year on year to 273.8 billion yuan,
accounting for 67.89 percent of the total, according to the white paper.

In the first quarter of 2020, the industry growth slowed
significantly compared to the same period in 2019 due to the COVID-19
epidemic. Thanks to the country’s effective control of the epidemic, the
industry steadily recovered with the resumption of economic activities.

The opening of the new BDS-3 system to global users has further
stimulated the demand for the application of BDS satellite navigation
technology in various industries, bringing the industry back to the
development fast track.

There are 14,000 enterprises and institutions in the field of
satellite navigation and location services in China, with more than
500,000 employees. By the end of 2020, 84 companies in the industry had
been listed. Enditem

About Xinhua Silk Road

Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal. China’s silk road economic belt and the 21st century maritime silk road website, include BRI Policy, BRI Trade, BRI Investment, Belt and Road weekly, Know Belt and Road, and the integrated information services for the Belt and Road Initiative (BRI).

Source: China’s satellite navigation industry sees sound recovery in 2020

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