Thaicom Public Company Limited (SET: THCOM) has set its sights on a 5-10% revenue increase for 2026, driven by heightened efficiency across its existing satellites—Thaicom 4, 6, 7, 8, and 9A—and strategic international expansion. CEO Patompob Suwansiri stated the company aims to lift its satellite utilization rate from 64% to at least 75%, targeting customer growth in primary markets, notably Thailand and India.
A pivotal development for THCOM in 2026 will be the planned launch of the Thaicom 9 satellite, marking the firm’s first new satellite in a decade. Scheduled for the second half of the year, Thaicom 9 is designed to address growing demand and support the firm’s bid for long-term, international growth. THCOM also plans to expand its service capacity by tenfold and boost revenue contributions from both overseas markets and new innovation-centric businesses through 2028.
Progress continues on the critical Thaicom 10 broadband satellite, set for orbital deployment in 2028. Notably, this satellite features software defined satellite technology—allowing dynamic beam and frequency allocation over a 16-year lifespan. Over 50% of its capacity (about 50 Gbps) has already been committed by Eutelsat, reducing revenue risk and promising swift utilization. Thaicom 11 is currently undergoing a feasibility study for both commercial and security aspects.
THCOM also revealed new ventures in low earth orbit (LEO) satellites by collaborating with U.S.-based Globalstar—Apple/iPhone’s satellite partner—to enable direct-to-cell technology. This will allow mobile phones in remote areas to connect directly via satellite. System upgrades in Pathum Thani gateway station are ongoing, with another LEO partnership announcement expected this year. THCOM’s LEO strategy will focus on the mobility sector (high-speed internet for ships, trains, cars) and retail customers in locations lacking 4G/5G and fiber infrastructure.
Domestically, THCOM is focusing on government and security sector clients, including projects with the Royal Thai Armed Forces. The company is also bidding for the National Broadcasting and Telecommunications Commission’s (NBTC) USO3 project—a government contract valued at over THB 5.5 billion, with results expected in 1Q26. THCOM’s prior success in earlier USO project phases enhances confidence in this bid.
The firm’s Geo-Informatics (GEOINT) platform is also expanding, targeting coverage of economic crops like rice, sugarcane, and palm oil, with aspirations to extend reach from 10% to 100% of Thailand’s farmland by year-end.
India is spotlighted as a vital growth market, especially for mobility services like in-flight WiFi, following ongoing industry expansion and local partnerships.
Financially, THCOM retains robust liquidity, with over THB 3.2 billion in cash and net debt of THB 2.6 billion as of end-2025. More than 90% of current revenue arises from satellite operations. For 2026, a THB 15 billion investment plan approved by shareholders will support new satellite deployments and upgrades, with THB 3 billion designated for further investments in the coming year.
Additionally, nearly THB 100 million will go toward enhancing and maintaining Thaicom 7 and 8. The USO3 project’s outcome remains a key factor in THCOM’s growth trajectory for the year ahead.
Yesterday, the share price of THCOM rose by 8.41%, closing at THB 11.60 with a trading value of THB 395.24 million.
