The European Union launched Friday its first satellite navigation system last Friday that is seen to compete with GPS network of the U. S.

The Russian rocket Soyuz launched the first two satellites of EU's Galileo navigation system from French Guiana on the northern coast of South America. The rocket is expected to place into orbit the Galileo IOV-1 PFM and FM2 satellites during the mission.

After the initial launch, two satellites will go up every quarter as of the end of 2012 until all 30 satellites are up.

The Galileo system is expected to start operations in 2014 as a free consumer navigation service, with more specialized services to be rolled out until 2020, when it should be fully operational.

EU authorities wants Galileo, which will be controlled by civil authorities, to dominate the future with a system that is more precise and more reliable than GPS with applications ranging from precision seeding on farmland to pinpoint positioning for search-and-rescue missions.

Herbert Reul, head of the EU parliament's industry, research and energy committee noted that if Europe wants to be competitive and independent in the future, it needs to have its own satellite navigation system, which will also create new economic opportunities.

The EU expects to will make a financial windfall from the project. EU authorities said the new navigation system's economic impact will stand at about euro90 billion ($125 billion) in industrial revenues and public benefits over the next two decades.

Over the past decade, the American GPS network has become the global consumer standard in satellite navigation, reducing the need for large maps and other directional materials.

Laurent Wauquiez, France's higher education minister and former deputy minister for European affairs, said Europe should not be dependent on a U.S. military-based GPS system as it could shut down at any time for security purposes.

"It means overnight we could lose our autonomy," he said. "There is an issue of sovereignty. We must not neglect this aspect even in a period of globalization," he added.