Faster? no. The speed of light is the speed of light :-). When you do a ping test over a satellite connection, you’ll see how much further it has to go.
Higher capacity? Maybe
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If you need to connect to a server in Edmonton from here, which would be “faster”?
A fibre line from Fort Mcmurray to Edmonton, or sending a signal to space and back down again? Which is farther? The ‘speed’ of the packet (the ping time or latency) is going to be much higher with the satellite.
They both go at the speed of light. One isn’t ‘faster’ but it has much farther to go.