The application of the Compass Navigation Satellite System, a GNSS from China, will create a market as big as 400 billion yuan ($61.54 billion) by the end of 2020, the head of China’s navigation management office said. Ran Chengqi, director of the China Satellite Navigation Management Office, said the office recently hired a third party to evaluate the country’s navigation market. According to its report, the market is growing by 30 to 50 percent annually and the industrial chain surrounding Compass could generate 400 billion yuan in revenue by 2020.
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People’s Daily Online