27-Jun-2020 | Market Research Store
China has become an advanced country and a big power in the space by launching its final satellite in its BeiDou-3 navigation system.
This launch by China has made it independent and they will no longer have to depend on the Global Positioning System (GPS), which is owned by the US Government.
The network consists of overall 35 satellites and had an overall cost of $10bn (£8bn). This will now help China to have worldwide navigation coverage.
This vital step was taken owing to the increased tensions between Washington and Beijing over issues such as trade, Hong Kong, and coronavirus.
The 3rd version of Beidou Navigation Satellite System (BDS) provides a substitute to the European Galileo systems, Russia's GLONASS, and the America's GPS.
The future plans assure to sustain a more integrated and accessible system, which is planned to come online by the year 2035 with BDS at its core.
It was in the year 2012 that the first version of BeiDou (meaning Big Dipper) was decommissioned.
There has been a rapid development in the China’s space program owing to the considerable financial support provided by Beijing. The motive behind this support was to develop country’s own advanced technological systems.
China, in the year 2003, was the third nation to launch own crewed space mission. After which there is no looking back as they have sent two rovers to the moon and have build experimental space station.
These steps are grounding for a permanent space station, possibly the first try to send orbiter and rover to Mars, and a potential crewed flight to the moon. These major steps by China make it a serious competitor to America in the space exploration.
The Market Research Store has published the report on the global navigation satellite system market. This report provides a comprehensive analysis of the market along with major trends that will create new market opportunities during the forecast period.