Satellite navigation plan maps future growth
China has mapped out a plan for its satellite navigation industry, which is set to be worth 400 billion yuan ($65.37 billion) by 2020, the State Council said on Wednesday.
The industry's production value in 2012 hit 81 billion yuan.
The plan will further extend the industry's application fields and boost its international competitiveness in the coming eight years, according to Xinhua News Agency.
The homegrown BeiDou Navigation Satellite System will play a major role in the long-term development of China's satellite navigation industry.
The system is expected to account for 15 percent of the total domestic satellite navigation market by 2015 and achieve 30 percent before 2020, according to the plan.
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, it said.
It also stressed the need to improve the system's infrastructure and achieve breakthroughs in core technologies, including energy, finance and communication.
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.
