Space Exploration Technologies SPCX is benefiting from the rapid expansion of its Starlink broadband business. Solid subscriber addition, expanding global coverage and continuous improvement in networking capacity are major driving factors. As of March 31, 2026, the company boasts a subscriber base of around 10.3 million. With approximately 9,600 satellites in orbit, Starlink service is available in 164 countries and markets. Segment adjusted EBITDA reached $7.2 billion in 2025 and $2.1 billion in the first quarter of 2026, showing that satellite broadband has moved beyond the concept stage.
SpaceX’s key differentiation lies in its launch leadership, which enables faster Starlink network expansion. SpaceX has completed around 650 orbital launches, including 620 Falcon 9 missions. The mission success rate exceeds 99%. Its reusable launch systems and capability to conduct frequent launches in a short period have significantly lowered satellite deployment costs.
The company places a strong focus on technology upgrades to improve customer experience. Its satellite constellation operates in low earth orbit, allowing significantly lower latency compared to legacy satellite systems. Its architecture can deliver residential download speeds of approximately 225 Mbps during peak hours. Moreover, the company’s ability to launch upgraded satellites frequently ensures continuous network advancements.
Through its Starlink business, the company is working to open up a new growth avenue. It has developed one of the largest satellite-to-mobile constellations, and its services include messaging, voice and data. The company is collaborating with leading mobile network operators across six continents, covering approximately 1.7 billion people.
How Are Competitors Faring?
In the satellite communication space, SpaceX faces competition from Viasat, Inc. VSAT and AST SpaceMobile ASTS. AST SpaceMobile is developing a direct-to-device satellite network. Its commercial deployment remains at an earlier stage. The company recently announced the successful orbital launch of BlueBirds 8, 9 and 10 aboard a Falcon 9 rocket. The satellites feature approximately 2,400-square-foot communications arrays and are designed to provide direct broadband connectivity to standard smartphones. AST SpaceMobile also announced that BlueBirds 11, 12 and 13 are targeted for launch during the first half of August aboard a Falcon 9 rocket from Cape Canaveral. With a growing ecosystem that includes 60 global mobile network operator partners covering over 3 billion subscribers, ASTS is gaining ground on the expanding direct-to-device space.
Viasat has completed the next-generation global ViaSat-3 constellation with the successful launch of ViaSat-3 Flight 3 on April 29, 2026, targeted to the Asia-Pacific region. Management said radiator and solar array deployments were completed and orbit raising is underway, with service entry expected in August or September 2026. ViaSat-3 Flight 2 also completed all deployments, including the reflectors and boom, with service entry pending FCC authorization. The ViaSat-3 class is designed to deliver more than 1 Tbps of throughput capacity and to use advanced beamforming and flexible bandwidth allocation so capacity can be directed to the highest-demand commercial, enterprise and defense markets.