How Has the BeiDou Navigation Satellite System Chips Market Size Evolved in Recent Years?
The beidou navigation satellite system chips market has seen considerable growth due to a variety of factors.
• In recent times, the market size for Beidou Navigation Satellite System chips has witnessed a significant surge. The market, which is projected to escalate from $0.61 billion in 2024 to roughly $0.78 billion in 2025, is projected to expand at a Compound Annual Growth Rate (CAGR) of 28.8%.
Several factors have contributed to this growth in the historic period, including a sturdy demand from the defense industry, a burgeoning demand for navigation systems, an increased need for precision agriculture, the rising usage in maritime navigation, and the expansion of the geospatial industry.
What Are The Predictions for The BeiDou Navigation Satellite System Chips Market in the Coming Years?
The beidou navigation satellite system chips market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are set high for the Beidou Navigation Satellite System chips market, with predictions of substantial expansion in the coming years. It's projected value could reach around $2.14 billion by 2029, with a CAGR of 28.6%.
The anticipated surge during the forecast period can be associated with the increased integration of the navigation system in smartphones, the development of the Beidou system, the rise in autonomous vehicles and consumer electronics, as well as the advancement of wearable technology. Further trends projected to dominate the forecast period include 5G infrastructure, integration with intelligent structures, incorporation of BDS chips, utilization in UAVs and drones, and further integration into smartphones and wearable technology.
Which Drivers Are Accelerating Growth In The BeiDou Navigation Satellite System Chips Market?
The upward trend in demand for autonomous vehicles projects a surge in the growth of the BeiDou navigation satellite system chips market. Autonomous vehicles, equipped with sophisticated sensors, control mechanisms, and artificial intelligence are capable of functioning without human input. This demand is driven by factors like safety, convenience, proficiency, accessibility, and their eco-friendliness. BeiDou navigation satellite system chips offer precision navigation in autonomous vehicles by capturing signals from BeiDou satellites and delivering vital positioning and timing data. As an example, in December 2022, a study conducted by the Insurance Institute for Highway Safety, a US-based philanthropic organization, anticipates a growth of autonomous vehicles in the U.S. roads to 3.5 million by 2025 and to 4.5 million by 2030. Consequently, the burgeoning demand for autonomous vehicles fuels the expansion of the BeiDou navigation satellite system chips market. Predictions show solid demand from the defense sector poised to drive the growth of the BeiDou navigation satellite system chip market. This growing demand from the defense sector can be attributed to escalating geopolitical conflicts, modernization drives, military clashes, cyber threats, and partnerships, which together prompt higher investment in defense systems and equipment. The BeiDou navigation satellite system chips offer accurate and reliable positioning, navigation, and timing information, thus augmenting situation awareness, command and control features, and overall operational efficiency in military operations. For instance, in March 2022, as per the information from the United States Department of Defense, a government agency in the U.S., the total budget authority requested for fiscal year 2023 was $773 billion, a surplus of $30.7 billion or 4.1% over fiscal year 2022's enacted level. Hence, strong demand from the defense sector is fuelling the growth of the BeiDou navigation satellite system chip market.
What Are The Core Segments Of The Global BeiDou Navigation Satellite System Chips Market?
The beidou navigation satellite system chips market covered in this report is segmented –
1) By Type: High Precision, Ordinary Precision
2) By Application: Special (Security) Applications, Civil Industrial, Mass Consumption
3) By End-User Industry: Automotive, Consumer Electronics
Subsegments:
1) By High Precision: Centimeter-Level Accuracy Chips, Millimeter-Level Accuracy Chips
2) By Ordinary Precision: Meter-Level Accuracy Chips, Sub-Meter Level Accuracy Chips
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Which Emerging Market Trends Are Altering The BeiDou Navigation Satellite System Chips Industry?
Leading firms in the BeiDou navigation satellite system chip market are broadening their operations to gain a competitive advantage. These companies are branching out their businesses to vary their product line and penetrate into new markets. By offering a wide array of products and services, companies are able to lessen their reliance on a solitary market or clientele.Thus, for example, in November 2022, China unveiled its strategy to broaden the international reach of its indigenous Beidou satellite navigation system, primarily in South Asia and Southeast Asia. These are crucial areas under the Belt and Road Initiative (BRI). This calculated move is intended to boost Beidou's penetration in these areas by amplifying its coverage and services. This aligns with China's comprehensive strategy to reinforce regional cooperation and technology outreach through the Beidou system.
Who Are the Key Players In The BeiDou Navigation Satellite System Chips Market?
Major companies operating in the beidou navigation satellite system chips market are:
• RTX Corporation
• China Electronics Technology Group Corporation (CETC)
• Thales Group
• Beijing Enterprises Holdings
• Trimble Inc.
• Kongsberg Gruppen
• Topcon Corporation
• Furuno Electric Co Ltd.
• U-blox Holding AG
• BDStar Navigation Co Ltd.
• Shanghai Huace Navigation Technology Ltd.
• NovAtel Inc.
• South China University of Technology (SCUT)
• GNSS Technologies Inc.
• Unicore Communications Inc.
• SST Technology Corporation Limited
• Wintec Industries Inc.
• RunXin Information Technology Co Ltd.
• Huatek Technology Corporation
• Navisys Technology Corp.
• Raco Wireless LLC
• NavtechGPS
• Nevco Technology Co Ltd.
• Techtotop Co Ltd.
• Hwa Create Corporation Limited
• ComNav Technology Ltd.
• Nanjing Veritas Electronic Technology Co Ltd.
• Changsha Zhongke Electric Co. Ltd.
What Are The Regional Insights Into The BeiDou Navigation Satellite System Chips Market?
Asia-Pacific was the largest region in the BeiDou navigation satellite system chips market in 2024. The regions covered in the beidou navigation satellite system chips market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
