SpaceX has raised over $1 billion and this will be enough money to make and deploy the 720 Starlink satellites that are needed for an operational constellation.
Musk said SpaceX will have most of the space launch revenue at $3 billion a year. SpaceX already has 60% of commercial launch. Elon believes internet service revenue will be more like $30 billion a year.
Total internet connectivity revenue in the world is about $1 trillion and they will get 3% with Starlink.
SpaceX will rapidly deploy 720 Starlink by about April, 2020. They will scale production and launch rate to between 1,000 satellites to 2,000 satellites per year. If SpaceX is able to stick to its current Starlink schedule, Musk said “SpaceX will have the majority of satellites” in orbit around the Earth within two years.
SOURCES- CNBC, Elon Musk
Written By Brian Wang, Nextbigfuture.com
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
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