OQ Technology has announced the recent, successful launch of the company’s new LEO satellite, MACSAT, aboard Arianespace’s Vega (mission VV23).
This pivotal development will strengthen OQ Technology’s space and ground infrastructures, while broadening satellite coverage. The satellite was launched from French Guiana on Sunday, October 8, 2023, and signal was acquired by a ground station in Lithuania.
By deploying the MACSAT satellite and augmenting its existing constellation of five satellites on-orbit, and with an additional four satellites set for a 2023 launch, OQ Technology underscores the deep commitment to the rapidly growing satIoT 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.
At the heart of this revolution lies the integration of 5G technology with satIoT. This combo heralds remarkable commercial advantages for businesses, governments, organizations, and individuals. OQ Technology has successfully connected cellular IoT devices to LEO satellites. As sectors such as energy, logistics, agriculture, maritime, and telecom firms show increasing interest in satellite cellular IoT solutions, OQ Technology is well positioned to cater to a broad range of clientele during the upcoming year.
“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.” — Omar Qaise, Founder and Chief Executive Officer of OQ Technology