Covid 19 impact on BeiDou Navigation Satellite System market :
Covid 19 pandemic broke out in 2019. Ever since WHO declared 'Pandemic,' it has created disruptions in almost all markets. Remote working, supply chain disruptions, and lockdowns were phenomena produced by this pandemic.
This report offers an overview of businesses changing modus operandi, business strategies, and investment strategies that leaders are adopting across the globe to tackle the challenges possessed by this pandemic. The COVID-19 epidemic affected nearly every country on the planet. Almost every industry was affected by the epidemic. Some industries have faced downfall, and some have experienced positive effects due to this pandemic.
This pandemic has affected the BeiDou Navigation satellite system market positively. Due to COVID-19 constraints on travel restrictions and in-person physical gatherings, the globe has become increasingly reliant on space infrastructure, resulting in increased demand for broadband internet for communication and satellite-based internet.
Segment by Application:
Agriculture, Aviation, LBS (Location-Based Services), Traffic, and Transportation are the application segments of the BeiDou Navigation Satellite System market. Agriculture is making use of this navigation technology. Nanjing Agricultural University has created the BeiDou tech-supported autonomous wheat sowing and harvesting system, which uses superior navigation technology to boost agricultural productivity. Navigation applications include inland river navigation, ocean transportation, docking, ship anchorage, etc. Aviation applications include airport scene monitoring, route navigation, precision, etc. Land applications include monitoring, autonomous vehicle navigation, networking applications, vehicle tracking, intelligent information systems, railway operation monitoring, etc.
Segment by Geography:
The BeiDou Navigation Satellite system market is segmented into North America, South America, Europe, and the Asia Pacific based on geography. BeiDouc navigation satellite system has provided precision agriculture, vehicle and ship monitoring, and smart ports in ASEAN, South Asia, Eastern Europe, and other regions. China uses this navigation system extensively. Countries like Thailand, Pakistan, and other 165 countries use the BeiDou navigation system.
Segment by Type:
The BeiDou Navigation Satellite system market is segmented into Satellite-Based Augmentation Systems (SBAS) and Constellation. Satellite constellations could greatly improve communications and monitoring of Earth phenomena ranging from climate and weather to disaster management. A Satellite-Based Augmentation System (SBAS) is a primary air navigation system that provides integrity and augmented accuracy to a GNSS (Global Navigation Satellite Systems) navigation signal such as BeiDou Navigation Satellite System.
The BeiDou Navigation Satellite System, developed by China, is a self-contained worldwide navigation system. As an important space infrastructure, the BDS offers worldwide users with all-time, all-weather, and high-accuracy location, navigation, and timing services. BeiDou also allows users to send and receive brief messages. Beidou-related items have already been sold to over 120 countries, servicing over 100 million people throughout the world.
China has aggressively pushed the use of its BeiDou Navigation Satellite System overseas. Countries from China's Belt and Road Initiative are included in this push. Chinese government support and its push to produce high precision positioning chips will drive the growth of this market. As China has many inexpensive smartphones connected to the BeiDou system, it transmits twice as many signals transmitted by the U.S. system. Many domestic firms have created modules, chips, and other components that may be used with BDS in a variety of applications. As a result, the market for BeiDou navigation satellite systems is likely to grow. To individuals who sign up for the BeiDou navigation satellite system, it claims to be 100 times more accurate as a navigation system. It also aspires to improve the internet and technology experience for all countries, particularly those in Asia, Africa, and Latin America. These are some driving factors of growth in market growth. The BeiDou Navigation Satellite System market is expected to register a 15.0% compound annual growth rate in terms of revenue. The global BeiDiu Navigation satellite system market size will reach USD 87 billion by the end of forecast period.
Concerns in some Western countries regarding Chinese technology can act as a restraining factor in BeiDou Navigation satellite system growth. Trade war with U.S. and U.S. restrictions over Chinese tech companies can restrain BeiDou market growth.
The Key BeiDou Navigation Satellite System market players and major vendors/manufacturers are Beijing BDStar Navigation, Hi-Target, Hwa Create, Haige Communication, Guoteng Electronic Technology, Corpro AutoNavi Holdings, UniStrong China Aerospace Science and Industry Corporation, and China North Industries Group.
Latest Trends and Developments:
- Changsha-based satellite navigation positioning chipmaker Haige Changsha BeiDou Information Technology Co. demonstrated its self-developed BeiDou "Dolphin series" chips. Chips with brief communications services and high accuracy location were also displayed.
- On June 2020, China successfully launched the third GEO-3 (geostationary Earth orbit satellite), completing the BeiDou Navigation Satellite System space segment building project and the BDS global constellation deployment.
BeiDou Navigation Satellite System Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 87 billion|
|Growth Rate||CAGR of 15.0 % during 2021-2028|
|Segment Covered||by Type, by Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Beijing BDStar Navigation, Hi-Target, Hwa Create, Haige Communication, Guoteng Electronic Technology, Corpro AutoNavi Holdings, UniStrong China Aerospace Science and Industry Corporation, and China North Industries Group.|
Key segments of BeiDou Navigation Satellite System Market:
Segment by Type:
- SBAS (Satellite-Based Augmentation Systems)
Segment by Application:
- Location-Based Services (LBS)
- Traffic and Transportation
Segment by Region:
· Rest of Europe
· Rest of Asia Pacific
· Rest of South America