China recently launched two new satellites for mobile telecommunications and remote sensing services on January 20 and January 29, respectively, the Xinhua News reported on February 2. The new mobile telecom satellite, dubbed Tiantoung-1, indecently developed by the China Academy of Space Technology has been successfully launched from the Xichang Satellite Launch Center in Sichuan Province, Southwest China to the planned orbit. The new satellite will set up a mobile network in the space to support ground facilities with stable and reliable mobile communications services such as voice, short messages, and data for users in China and surrounding countries like the Middle East, Africa, and some other counties in the Pacific Ocean and Indian Ocean.
The Jiuquan Satellite Launch Center of Northwest China also sent several remote sensing satellites into the space on January 29. These new remote sensing satellites will be used for electromagnetic environment surveys and other related technology tests.
Global low-earth orbit satellite market value is estimated to reach US$24.8 billion in 2027, according to MIC (Market Intelligence & Consulting Institute), with a 18.86% CAGR (Compound Annual Growth Rate) from 2019 to 2027, a major government think tank and leading IT research institute in Taiwan.