BeiDou Satellite

Although China launched its first BeiDou navigational satellite
in 2000 and initiated the BeiDou Navigation Satellite System in 2003, the system did not officially enter service until 2012. It now covers one-third of the globe and is used by an estimated four billion people in the Asia-Pacific region, becoming the third-most mature global satellite navigation system after the US’s GPS and Russia’s GLONASS. The value of BeiDou and related industries reached 173.5 billion yuan (US$26bn) in 2015, up from 81 billion yuan (US$12bn) in 2012. During the same period, the number of BeiDou-enabled chips in use hit 100 million, growing from one million three years ago. The main reason behind the success of BeiDou is its marketization, via China’s burgeoning automotive tech and cell phone industries. Experts say that while State support created BeiDou, its future success will depend on the market.