OQ Technology is thrilled to announce the successful launch of its new Low Earth Orbit (LEO) satellite, MACSAT, aboard Arianespace’s Vega (mission VV23). This pivotal development will strengthen its space and ground infrastructure while broadening its satellite coverage.
The satellite was launched from French Guiana at 10:37 p.m. local time on Sunday, October 8, 2023 (3:37 AM on Monday, October 9, 2023 Luxembourg time), and the signal was acquired by a ground station in Lithuania on Sunday (07:24 PM UTC).
By deploying the MACSAT satellite and augmenting its existing constellation of five satellites in orbit, with an additional four satellites set for a 2023 launch, OQ Technology underscores its deep commitment to the rapidly growing Satellite IoT market. This market is predicted to exhibit a CAGR of 20% from 2023 to 2032, with an expected valuation of US$18 billion by 2032. OQ Technology is strategically positioned at the vanguard of this shift, poised to seize a significant market portion and elevate its commercial achievements.
Omar Qaise, founder and chief executive officer of OQ Technology, remarked, "We are immensely proud to unveil the successful launch of the MACSAT satellite. I seize this moment to extend gratitude to the Luxembourg Government and the European Space Agency (ESA) for their unwavering trust and support for this mission. This significant stride will bolster both our space and terrestrial infrastructures and further our commercial triumphs in the future."
At the heart of this revolution lies the integration of 5G technology with Satellite IoT. This combination heralds remarkable commercial advantages for businesses, governments, organizations, and individuals. As we advocate for a more interconnected, intelligent, and efficient world, we are also laying the groundwork for a future that is secure and sustainable.
Moreover, in the midst of rising demand for cellular Direct-to-Device (D2D) services, OQ Technology has emerged as a leader. Since their pioneering Narrowband IoT Waveform mission in 2019, they've successfully connected cellular IoT devices to LEO satellites. As sectors like energy, logistics, agriculture, maritime, and leading telecom firms show increasing interest in satellite cellular IoT solutions, OQ Technology is exceptionally positioned to cater to a wide clientele in the upcoming year.
