SpaceX's Starlink internet authorized for boats, planes and RVs
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In a big win for Elon Musk's Starlink (STRLK) satellite internet network, the Federal Communications Commission has authorized the company's plan to expand broadband offerings to vehicles in motion. "Authorizing a new class of [customer] terminals will meet the growing user demands... whether driving an RV across the country, moving a freighter from Europe to a U.S. port, or while on a domestic or international flight," wrote Tom Sullivan, International Bureau Chief of the FCC. Starlink (STRLK) also made headlines during the war in Ukraine, with President Volodymyr Zelenskyy praising Musk for helping the country stay online and conduct military operations.
What is Starlink? Operator SpaceX (SPACE) has launched a constellation of 2,700 Starlink satellites since 2019, blasting batches of them into low-Earth orbit on its Falcon 9 rockets. The service is meant to deliver high-speed internet with few delays, and has FCC approval to expand its network to 12K satellites. As of June, operator SpaceX (SPACE) told the agency that Starlink (STRLK) had more than 400K subscribers, including many who pay $110 a month for broadband internet using $599 self-install terminal kits.
Contracts in recent years have focused on remote and rural users, though business clients are starting to be drawn in. Delta Air Lines (DAL) is testing the service and Hawaiian Airlines (HA) and charter provider JSX are adding it to their routes. That has raised the alarm for the competition, including OneWeb, Viasat (VSAT) and Jeff Bezos's Kuiper project, which is planning a similar network to Starlink (STRLK) with the first prototype satellites to launch later this year.
Can Tesla (TSLA) drivers expect Starlink internet in the future? Back in March, Elon Musk tweeted that such a plan is not in the works since "our terminal is much too big" and would be more suitable for large trucks & RVs. He has also said that Starlink (STRLK) would IPO "once we can predict cash flow reasonably well" and suggested that retail investors will get "top priority" in the coming offering.