Private equity hasn't been particularly active in investing in space in part because firms still see the sector as an emerging market in an uncertain regulatory environment with long development cycles, Emerald Advisors' Jan Grondrup wrote Thursday. While venture capital focuses on high-risk, high-reward opportunities, private equity firms "often seek businesses with predictable cash flows and clear paths to profitability," he said. Many space companies -- especially startups -- have limited recurring revenue and are in capital-intensive development phases, he said. As more space companies mature into sustainable businesses with strong revenue potential, "the risk-reward equation may become more attractive." Space increasingly being tied into terrestrial telecommunications networks could also lead private equity firms to rethink their digital infrastructure investment strategies, he said.
The U.S. Court of Appeals for the D.C. Circuit has shot down financier BIU's challenge of the FCC allowing satellite operator Spectrum Five (S5) to withdraw a complaint against Inmarsat. In a four-page judgment Thursday (docket 24-1189), the three-judge panel said the FCC wasn't being arbitrary and capricious when it found that the reinstatement request was a private contractual dispute, and BIU has the ability to go back to the FCC if it prevails in that contract dispute. In oral argument Jan. 10, the judges seemed satisfied with the idea that BIU could bring its fraud-related claims back to the agency after a state court rules on its rights as a stakeholder in S5 (see 2501100010). Deciding were Judges Sri Srinivasan, Harry Edwards and Michelle Childs.
None of the C-band relocation payment clearinghouse's justification for denying most of Anuvu's reimbursement claim (see 2502250059) squares with the reimbursement program's purpose, according to Anuvu. In a docket 21-333 filing posted Tuesday, Anuvu said a policy with broad applicability -- such as one about C-band clearing work done outside the U.S. not being eligible for C-band clearing reimbursement -- must have a clear statement about its factual underpinnings and can't be implemented via a single footnote.
As of Sunday, SpaceX has launched 7,956 Starlink satellites -- 13% of all satellites ever launched, with all the Starlinks sent during the past five years, satcom consultant Carlos Placido wrote Monday. He said more than 490 direct-to-device Starlinks have been launched, with 489 currently operational. A Starlink report issued last week indicated that the company has 329 satellites in the process of deorbiting and 865 that have deorbited. SpaceX's report said it has one failed satellite in orbit and expects to have none by year-end.
Rocket Lab is committed to a 2025 inaugural launch of its Neutron rocket. "We look forward to unlocking the medium launch bottleneck by bringing Neutron to the pad," CEO Peter Beck told analysts Thursday. Some have questioned whether Neutron would be delayed (see 2502250062). Beck said the company anticipates a trio of Neutron launches in 2026 and is building an ocean-based landing platform for the reusable rocket, meant to compete with SpaceX's Falcon 9.
Globalstar's expanded contract with Apple (see 2411010003) will fund its next satellite constellation, CEO Paul Jacobs told analysts Thursday. In an application earlier this month with the FCC Space Bureau, Globalstar said its planned next-generation low earth orbit mobile satellite service deployment, with a price tag of more than $1 billion for the satellites and ground infrastructure, would augment its connectivity in areas where there's no terrestrial coverage. It said that C-3 system would have greater signal strength and multiple satellites overhead, meaning better in-building and in-vehicle connectivity for users. The constellation will consist of 48 satellites and six orbiting spares, enabling new IoT and consumer-based offerings. Globalstar said its existing direct-to-device SOS emergency messaging service to iPhones is available in the U.S., Canada, 12 European countries, Australia, New Zealand and Japan. Apple’s September release of iOS 18 enabled satellite-delivered two-way messaging in the U.S. and Canada between users, it said. When asked about a deployment timeline, Jacobs didn't comment.
DOD should pause further investment in intersatellite laser link technology until it demonstrates that it works, the Government Accountability Office said Wednesday. GAO said an initial tranche of satellites produced by the Space Development Agency that employ laser tech have yet to demonstrate all the planned communications capabilities, yet the agency has awarded almost $10 billion in contracts for two more tranches of satellites. GAO said DOD concurred with its recommendation that the space agency should demonstrate laser communications capabilities before making further investments in subsequent tranches.
Multi-orbit capabilities are "becoming a must-have" for satellite operators looking to stay competitive, Carolina Daza of consultancy Access Partnership wrote Wednesday. She said the biggest challenge facing multi-orbit networks is "significantly heterogeneous regulatory frameworks." She also cited regulatory hurdles, including the fact that spectrum licensing for non-geostationary and geostationary orbit systems typically follow "distinct regulatory paths" with different technical parameters. There are no standardized criteria for multi-orbit terminals, and regulators "can be reluctant when faced with the unknown, further complicating the licensing process."
Based on data from reentries, the median operational lifetime of a SpaceX Starlink satellite appears to be 5.3 years, Harvard-Smithsonian Center for Astrophysics astronomer Jonathan McDowell wrote Tuesday on X.
As the satellite industry matures, the number of new constellation businesses forming is on the decline, Payload Research said Wednesday. It said 2024 saw seven constellation businesses launch -- those being satcom, earth observation or in-orbit servicing -- compared with 14 in 2023 and 16 in 2022. It said the peak in constellation business formation was 50 in 2015. "Seeing the graveyard of bankrupt competitors and the dominance of entrenched players, new entrepreneurs will then refrain from entering the market" unless they have a differentiated niche.