The BeiDou system has three segments: space, ground, and the user segment, offering performance standards for precise navigation and timing services. 

BeiDou-1: This first generation constellation was launched in 2000 with three satellites, offering limited services mainly in China and neighboring regions. However, it was decommissioned at the end of 2012.

BeiDou-2: This second generation constellation was launched in 2011 with a partial constellation of 10 satellites, providing services to customers in the Asia-Pacific region. It has been more accurate than GPS within the region and generated a turnover of $31.5 billion per annum for major companies in 2015.

BeiDou-3: This third generation constellation is currently being built with the goal of global coverage. As of October 2018, there are 15 satellites in orbit, and the plan is to have 35 satellites in orbit by 2020, providing global services. Once fully launched and operational. BeiDou-3 will also offer millimeter-level accuracy with post-processing, providing an alternative to USA's GPS, GLONASS, or GALILEO.

BeiDou employs TKS technology which does not require onboard atomic clocks compared to GLONASS and Galileo systems, thus making it a unique and innovative solution in the field of satellite navigation.