The value of China's BeiDou Navigation Satellite System (BDS) industry is expected to reach RMB 1 trillion ($15.6 billion) by 2025, Xinhua news agency said on Wednesday, citing information released at the 12th Annual China Satellite Navigation Conference.
The annual meeting, held in Nanchang on May 26, is the first annual meeting of BDS to start globalization and industrialization.
By 2020, the overall output value of China's satellite navigation industry has exceeded 400 billion yuan, with an average annual growth of more than 20 percent, data released at the annual meeting showed.
BDS-related products have been exported to more than 120 countries and regions, providing services to hundreds of millions of users.
China has formed a complete, independent BDS industry development chain, which including chips, modules, boards and other key basic products of comparable nature with similar international products, according to the report.
The number of terminals equipped with BeiDou positioning function exceeds 1 billion units, the data also showed.
Up to now, more than 7 million operating vehicles, 36,300 postal and express vehicles, about 1,400 public vessels and about 350 general aviation vehicles in China have been equipped with BeiDou system.