London, 10 October 2023.- OQ Technology, a Luxembourg based satellite communication service, announced on the 10th of October that its low-Earth orbit (LEO) satellite, MACSAT, successfully launched aboard Arianespace’s Vega. The satellite was launched from French Guiana at 10:37 pm local time on the 8th of October.
OQ Technology has deployed the MACSAT satellite and has augmented its existing constellation of five satellites in orbit, with an additional four satellites set for a 2023 launch. The company has stated that it has a deep commitment to the rapidly growing Satellite Internet of Things (IoT) market. The Satellite IoT market is predicted to exhibit a CAGR of 20% from 2023 to 2032, with an expected valuation of $18 billion by 2032. OQ Technology intends to make use of the integration of 5G technology with Satellite IoT amidst the rising demand for cellular Direct-to-Device (D2D) services.
“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,” said Omar Qaise, Founder and Chief Executive Officer of OQ Technology. “This significant stride will bolster both our space and terrestrial infrastructures, and further our commercial triumphs in the future.”
OQ Technology has had previous success with the Narrowband IoT Waveform mission in 2019 where they successfully connected cellular IoT devices to LEO satellites.