China’s State Council, or cabinet, has approved a mid and long-term plan for the development of its satellite navigation industry, according to a document released.
By 2020, when China is expected to expand its home-grown regional BeiDou Navigation Satellite System to global coverage, the industries’ annual profit will hit 400 billion yuan (US$65.11 billion), under the plan.
The BeiDou system will have about 800 million users by then, predicted a white paper released by the Global Navigation Satellite System and Location Based Service Association of China on Sept. 24.
The system and its compatible products will receive general acceptance in the national economy’s key sectors and fields, and will be promoted in the mass market by 2020, said the plan.
It also stressed the need to improve the system’s infrastructure and make breakthroughs in core technologies.
The BeiDou system will include more than 30 satellites and a ground control operation system by 2020 in order to serve global clients, the plan added.