Fund Manager Alicia Daurignac Identifies Satellite Connectivity as the New Frontier for Global Telecom Investment

LFDE fund manager Alicia Daurignac explains how falling launch costs and D2D connectivity are transforming satellites into a $20B+ growth sector.

By: AXL Media

Published: Mar 28, 2026, 9:20 AM EDT

Source: Information for this report was sourced from finews.asia

The Structural Shift From Terrestrial to Non-Terrestrial Networks

The demand for ubiquitous connectivity—the ability to remain online while traversing oceans or high-altitude flight paths—is outstripping the capabilities of traditional cell towers. According to Alicia Daurignac, satellites are no longer merely "emergency" tools but are becoming integrated into the primary network fabric. This evolution is synchronized with the development of 6G, where non-terrestrial networks (NTN) will ensure there are no "dead zones" on the planet. This shift fundamentally redefines the value chain for telecommunications providers, who must now integrate space-based assets to remain competitive.

Economics of Orbit: Falling Costs and Rising Constellations

The primary catalyst for this sector's explosive growth is the dramatic reduction in launch costs, driven largely by reusable rocket technology. Over the past two decades, the cost of sending payloads to space has plummeted, making large-scale constellations of SmallSats economically viable. In 2025, SpaceX achieved a milestone by conducting more launches than the rest of the global industry combined, leveraging its vertical integration to scale its Starlink network.

The Competitive Race for Orbital Real Estate

Space has become a contested commodity, with companies and nations racing to secure finite resources: orbital positions and frequency licenses. Low Earth Orbit (LEO), situated between 500 and 1,200 kilometers, is becoming increasingly crowded.