BEIJING -- China's satellite navigation and positioning industry gained a total output value of 345 billion yuan (about $52.8 billion) in 2019, according to the latest report.
The sector's output value is expected to hit 400 billion yuan in 2020, according to the report released by the China Satellite Navigation Office on the construction and development of the BeiDou Navigation Satellite System (BDS).
Over the past decade, China has seen the total output of its satellite navigation and positioning industry grow by an annual average of more than 20 percent, read the report.
The country has cultivated a booming satellite navigation and positioning industry, with a complete industrial chain.
China officially commissioned BDS on July 31, opening the new BDS-3 system to global users.
Along with positioning, navigation and timing services, the BDS-3 system can provide a variety of value-added services like global search and rescue assistance, short message communication, ground-based and satellite-based augmentation, as well as precise point positioning.
BDS has provided comprehensive services for sectors such as transport, public security, disaster relief, agriculture, forestry and urban governance, read the report.
