通信行业北斗导航产业深度报告：北斗海外市场增长显著，高精度需求迅速提升

Investment Rating - The report maintains an "Accumulate" rating for the communication industry [1]. Core Insights - The satellite navigation industry in China is developing steadily, with significant growth in overseas markets. The overall output value of the navigation and positioning service industry reached 536.2 billion RMB in 2023, a year-on-year increase of 7.09% compared to 2022 [1]. - The continuous improvement of Beidou's international influence will drive the development of Beidou's overseas applications, with domestic companies actively expanding into international markets, achieving a revenue growth rate of 15% year-on-year [1]. - The demand for high-precision products and applications is the main direction for future development, with high-precision applications such as autonomous driving, outdoor robots, and drones becoming widely popular [1]. Summary by Sections Industry Overview - The overall output value of China's satellite navigation and positioning service industry reached 536.2 billion RMB in 2023, with a core output value of 161.1 billion RMB, accounting for 30.04% of the total [1][89]. - The associated output value from satellite navigation applications and services reached 375.1 billion RMB, accounting for 69.96% of the total [1][89]. Market Growth - The high-precision satellite navigation market in China has grown rapidly, with the market value increasing from 2.3 billion RMB in 2012 to 21.4 billion RMB in 2023, and is expected to reach 126.34 billion RMB by 2028 [1][109]. - The overseas market for Beidou applications is expanding significantly, with a growth rate of 15% year-on-year [1][94]. Application Areas - The demand for high-precision applications is increasing, with significant growth in sectors such as autonomous driving and agricultural machinery automation [1][103]. - The report highlights that the Beidou system has been recognized as one of the four global satellite navigation systems, serving users in over 200 countries and regions [1][94]. Policy Support - The report notes that over 80 policies related to Beidou have been issued by various government departments, promoting its application in key industries such as energy, communication, and transportation [1][86].