China will start launching the third generation of BeiDou navigation satellites in July 2017, reports 21st Century Business Herald. By 2020, the company aims to have 35 satellites in orbit, providing global coverage to consumers, while simultaneously boosting their market to 240-320 bn, notes 21st Century Business Herald. Global navigation systems are currently led by US’s GPS, with BeiDou, Russia’s GLONASS and Europe’s Galileo following close behind, adds the paper.

Around 30 percent of mobile phones in China are compatible with BeiDou and more manufacturers have started to produce chips compatible with multiple navigation systems, potentially increasing accuracy and avoiding problems caused by one system malfunctioning, note industry insiders.

BeiDou has had continuous government support, adds 21st Century Business Herald, highlighting

Beijing, Shanghai, Guangdong, Hunan, Hubei, Shenzhen and Changsha have published plans for the BeiDou industry, viewed as a strategic industry to upgrade their economies. Beidou aims to be the ‘third national business card’, following on from high speed rail and nuclear, adds 21st Century Business Herald.