Wednesday, March 23, 2011

China provides a business of 60 billion dollars with its own GPS

.- The global navigation system (GPS, for its acronym in English) created by China, Beidou, will become a business of 60 billion dollars (42 million euros in 1300) by 2020, according to forecasts collected today the local press. "Before 2015, our project will have generated an industry Beidou valued at thirty thousand 400 million dollars," said Liu Jingnan, chief executive of Global Navigation Satellite Congress of China, was quoted by Xinhua news agency.

According to earlier reports, the first phase of the Chinese GPS between 2011 and 2015, China will put in orbit between 12 and 14 satellites that provide navigation services, time and text messages in the Asia Pacific. For now, China has launched seven satellites. In a second phase, until 2020, the number of satellites will increase to 30.

The architects say Beidou system may be used in areas where it operates the U.S. GPS, currently the dominant system for navigation in China, since it is used by 95 percent of subscribers to this service.

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