WASHINGTON — SpaceX’s ambitious Starlink satellite network is surpassing expectations at a rapid pace, according to a recent report by Quilty Space. Quilty Space, a market research and consulting firm, has discussed a report forecasting Starlink's potential revenue.
The report, discussed by Quilty Space analysts on a webinar May 9, forecasts Starlink is on track to generate a staggering $6.6 billion in revenue for 2024, defying industry skepticism and rewriting the future of satellite internet.
Chris Quilty, founder of Quilty Space, stated that industry veterans were skeptical about the success of SpaceX's Starlink, especially after past satellite broadband ventures failed. However, the success has exceeded expectations.
In May 2019, SpaceX launched the initial 60 Starlink satellites on its Falcon 9 rocket. SpaceX sent the first 60 Starlink satellites into orbit using the company’s Falcon 9 rocket in May 2019.
Currently, Starlink has nearly 6,000 satellites, with over 5,200 operational, providing internet access to 2.7 million subscribers in 75 countries. Starlink now has approximately 5,200 operational satellites and provides internet access to 2.7 million subscribers across 75 countries. Quilty Space's rapid growth prompted the company to further examine Starlink's financial performance.