Mr. Patompob Suwansiri, Chief Executive Officer of Thaicom Public Company Limited (SET: THCOM or Thaicom), stated that the company has set a clear revenue structure target for the next 3-5 years, divided by key business segments. The core geostationary satellite (GEO) business will account for about 70% of revenue, mainly from Thaicom 10 satellite and the Indian market, focusing on stable income from long-term lease contracts.
Meanwhile, the low earth orbit satellite (LEO) business is expected to contribute about 10% of revenue through Gateway services and high-speed internet on ships and aircraft. The Geo-Intelligence or Space Tech business will make up around 10% from the sale of AI-powered satellite imagery analytics services to the agricultural sector and applications in Carbon Credit projects. Additionally, the defense business will provide another 10% of revenue from border security projects, satellite imagery for military purposes, and anti-drone systems.
Currently, Thaicom earns about THB 2.5–3 billion per year and expects that from 2027 onwards, revenue will multiply, targeting THB 8–10 billion annually once Thaicom 10 is fully operational. Together with adapting to the space and AI business, these will become sustainable drivers of long-term revenue. The company also expects revenue from overseas markets to surpass 50%, and the Space Tech business to become Thaicom’s second main revenue engine in the future.
For this year, overall operations mark a foundational year, progressing according to the strategic plan set three years ago. The emphasis is on preparing for new satellites, Thaicom 9 and Thaicom 9A, which is a significant investment decade-wise, with a shareholder-approved budget of THB 14 billion for service continuity. Plans are to launch Thaicom 9 into orbit in late 2Q26 to retain the customer base and meet rapid demands, providing services to both Thai and Indian markets.
Revenue is expected to surge considerably in 2026 after launching Thaicom 9 and sending Thaicom 10 into the orbital system in 2027. Thaicom 10 will be a large broadband satellite with a capacity of 100 Gbps, 10 times that of Thaicom 9, using cutting-edge technology in the Asia-Pacific region. Starting 2028, once Thaicom 10 serves a full year, the revenue growth will reflect its full potential.
For the satellite TV business, although the market is not growing, it remains a critical infrastructure, especially in upcountry regions. Thaicom has introduced Addressable TV Ads, adopting proprietary U.S. technology to deliver different advertisements to targeted households simultaneously. This stimulates ad spend in the system and drives channels toward High-Definition (HD), aiming to upgrade consumer experiences. Currently, there are nearly 400 satellite TV channels and approximately 10 million viewers (according to third party survey data).
In the Indian market, Thaicom considers it the satellite market with the highest potential in the world, supported by factors like a population of 1.4 billion, diverse and hard-to-access topography, and higher internet demand than existing satellite service capacity. Thaicom has been licensed and doing business in India for over 20 years via its subsidiary IPSTAR India and partners with BSNL (Indian state-owned telecom).
Most recently, Thaicom has teamed up with Hughes India, which has a 70% market share, to lease signals from Thaicom for corporate clients such as banks, with plans to use Thaicom satellites for in-flight Wi-Fi on Indian airlines. Currently, revenue from India is about 10-15% and is expected to increase significantly after the launch of Thaicom 9 and Thaicom 10.
In addition, Thaicom is expanding into defense technology, particularly anti-drone systems, aiming to become part of the defense industry through research and development in collaboration with global partners. This approach is intended to build domestic knowledge and technology, with a focus on continuously advancing software to keep pace with rapidly evolving drone technology, supporting the missions of the military and security agencies.
