SpaceX is authorized to construct, deploy, and operate an additional 7,500 Gen2 Starlink satellites, bringing the total to 15,000 satellites worldwide, FCC said.
- The expansion will enable SpaceX to deliver high-speed, low-latency internet service globally, including enhanced mobile and supplemental coverage from space.
- The FCC has given SpaceX the green light to deliver unprecedented satellite broadband capabilities, strengthen competition, and help ensure that no community is left behind, said Brendan Carr, Chairman at FCC.
- SpaceX is currently one of the world’s largest privately held players.
The U.S. Federal Communications Commission (FCC) has granted Elon Musk’s Space Exploration Holdings, LLC (SpaceX) an authorization to advance its second-generation Starlink satellite system.
Under the grant, SpaceX is authorized to construct, deploy, and operate an additional 7,500 Gen2 Starlink satellites, bringing the total to 15,000 satellites worldwide, the FCC said.
The expansion will enable SpaceX to deliver high-speed, low-latency internet service globally, including enhanced mobile and supplemental coverage from space.
“By authorizing 15,000 new and advanced satellites, the FCC has given SpaceX the green light to deliver unprecedented satellite broadband capabilities, strengthen competition, and help ensure that no community is left behind,” said Brendan Carr, Chairman at FCC.
SpaceX is currently one of the world’s largest privately held players. Its Starlink segment operates broadband satellite network in low-earth orbit while its Falcon 9 rocket shepherds government and private players to space and back.
SpaceX IPO Plans
SpaceX is moving ahead with plans for an IPO and targeting a valuation of about $1.5 trillion in what could be the largest IPO of all time, according to a report from Bloomberg News.
The company’s current valuation is around $800 billion, established through private share sales, and has overtaken ChatGPT owner OpenAI’s $500 billion valuation.
Satellite Internet Market Boom
According to a research report from Grand View Research, the global satellite internet market size is expected to reach USD 22.6 billion by 2030.
“The rise in government programs for the uptake of advanced satellite internet services to develop a digitized economy and to provide enhanced public safety & security drives the market's growth,” the report added. Several governments across the globe are significantly funding satellite internet companies to provide broadband services.
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