Core Insights - The white paper released by the China Satellite Navigation and Positioning Association indicates that the overall output value of China's satellite navigation and positioning industry will reach 575.8 billion yuan in 2024, representing a year-on-year growth of 7.39% [1][17] - The development of the BeiDou system is advancing steadily, with increasing marketization, industrialization, and internationalization, driven by digital transformation and intelligent upgrades across various industries [1][3] Industry Development - The BeiDou system has been widely applied in transportation, meteorology, communication timing, power dispatch, disaster reduction, and public safety, integrating into the national core infrastructure and generating significant economic and social benefits [3][17] - In 2024, BeiDou's core capabilities, such as high-precision positioning and short-message communication, will continue to empower various industries, leading to innovative breakthroughs and deep applications [3][4] Sector-Specific Applications - In agriculture, BeiDou applications are evolving towards intelligence and precision, significantly enhancing production efficiency and resource utilization [4] - In the transportation sector, BeiDou has become a crucial tool for highway inspection and safety management, with automated container trucks equipped with BeiDou navigation devices improving operational efficiency by 25% [4] - The energy sector is leveraging BeiDou technology for precise monitoring and efficient management, enhancing the efficiency of power system inspections and fault handling [4] Market Trends - By the end of 2024, the total application volume of BeiDou terminal devices across major industries will approach 30 million units, with the domestic satellite navigation terminal product sales exceeding 410 million units [5][7] - The domestic market for BeiDou-compatible chips and modules is expected to reach nearly 2.3 billion units, with over 2 billion terminal products in total [7][19] Low-altitude Economy - The low-altitude economy, a strategic emerging industry in China, is rapidly developing with BeiDou technology as its core, covering various applications such as drone logistics and emergency rescue [9][10] - The market size of the low-altitude economy is projected to exceed 1.5 trillion yuan by 2025, with further growth expected to reach 3.5 trillion yuan by 2035 [9][10] Consumer Market - The consumer market is becoming a core growth area for BeiDou applications, with approximately 98% of smartphones in China supporting BeiDou positioning functions [12][13] - The daily navigation service provided by major electronic map service providers exceeds 1 trillion times, covering over 99% of urban and rural roads [12][20] Future Outlook - By 2035, the satellite navigation industry is expected to evolve into a comprehensive PNT (Positioning, Navigation, and Timing) and spatiotemporal service industry, with an anticipated output value exceeding 1 trillion yuan by 2025 [15][16] - The development will focus on creating a robust spatiotemporal intelligent service system, enhancing industry integration and innovation [16]