12:38 PM EDT, 05/04/2026 (MT Newswires) -- STMicroelectronics (STMPA.PA, STMMI.MI) expects the space market to be a major growth driver for the company in the coming years amid revenue opportunities related to its low earth orbit, or LEO, satellite business.

At a media briefing on Monday afternoon CET, Remi El-Ouazzane, the European semiconductor manufacturer's president of microcontrollers, digital ICs and RF (MDRF) products group, said the company has a "very clear"ambition to achieve well above $3 billion in cumulative revenue in the space market as a whole over the 2026 to 2028 period, combining LEO and traditional space, amid the rapid acceleration in LEO growth.

"On the LEO side, these numbers include only the broadband and direct-to-cell opportunities. Additional opportunities will continue to emerge, including LEO data centers, which are not included in this ambition,"El-Ouazzane said.

When asked about the revenue trajectory over the three-year period, El-Ouazzane said the growth rate beyond 2026 will depend on many factors, and that the company factored in market share loss in its assumptions. "The numbers that we are painting right now do not include any potential upside coming from data center in space in the medium term,"he added.