SpaceX’s New Venture – Internet-Satellite Business Projections
Aside from pure exploration and innovation, it seems that Elon Musk-led SpaceX is now pursuing new avenues that have the potential to make a fortune. Currently, Space-Ex makes most of its money through its rocket launch offering, where they have commercial or governmental entities pay them to send goods or people into space. Now, SpaceX president Gwynne Shotwell claims their satellite-internet business is expected to profit this year. Starlink, the subdivision that works with these satellites, is expected to generate positive earnings, however, this may be excluding launch-related costs. What has been driving the development of such a feat have been the funds SpaceX has generated from other projects such as sending supplies to the ISS and even sending astronauts into space.
In 2022, the global broadband services market value was estimated to be $419.44 billion, thus capturing a small portion of this value would be a great moneymaking step for SpaceX. At the moment, SpaceX has deployed a total of 3,875 Starlink satellites into orbit, with hopes to add thousands more in the coming years. The current sole partner who uses these satellites is T-Mobile, which just recently partnered with the space rocket company late last year. Although SpaceX is currently a privately held company, it is remarkable to see the transition from tower to satellite-based internet, and how this will affect the revenues of the world’s most popular internet providers.
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I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.