AMAZON.COM, INC.

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Amazon, SpaceX snag NASA space communications contracts

04/20/2022 | 06:57pm EDT
FILE PHOTO: SpaceX Starlink 5 satellites are pictured in the sky seen from Svendborg

WASHINGTON (Reuters) - Amazon's satellite venture, SpaceX's Starlink network and other satellite firms on Wednesday won a combined $278.5 million in contracts from NASA to demonstrate communications in space as the U.S. space agency moves to replace its current satellite network in orbit with privately-built systems.

NASA is increasingly looking to rely on private space companies for its operations and wants to stimulate more commercial activity in areas from space communications to sending humans to orbit.

Amazon's Project Kuiper, a planned network of over 3,000 satellites built to beam broadband internet to remote regions, won $67 million, while SpaceX's Starlink venture, a larger satellite-internet network with some 2,000 satellites in space already, received $70 million.

NASA uses its current system, called the Tracking and Data Relay Satellite network, to communicate with spacecraft in orbit, such as SpaceX's Crew Dragon capsule when it ferries astronauts to and from the International Space Station.

"The goal here is really to get industry to kick in with us and develop these capabilities for customers that are not just NASA, but other space-based customers as well, hopefully bringing down our costs," Eli Naffah, the head of NASA's Communications Services Project, told Reuters.

Each company is expected to complete development and demonstrations of their satellites under the contract by 2025, NASA said in a statement.

The other awardees include Inmarsat, SES, Telesat and ViaSat. Competition is fierce primarily among Elon Musk's SpaceX, Amazon and Telesat to provide broadband internet from space, a costly commercial endeavor that could generate billions in revenue once fully operational, analysts say.

Starlink, while not yet completed, has thousands of customers in various countries. Amazon, further behind, aims to launch its first two prototype satellites in late 2022.

(Reporting by Joey Roulette, Editing by Rosalba O'Brien)

By Joey Roulette


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM, INC. 1.12% 144.78 Delayed Quote.-13.16%
ENDEAVOR GROUP HOLDINGS, INC. 1.04% 24.31 Delayed Quote.-30.32%
TELESAT CORPORATION -3.74% 16.75 Delayed Quote.-51.61%
VIASAT, INC. 0.67% 40.57 Delayed Quote.-8.91%
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Financials (USD)
Sales 2022 522 B - -
Net income 2022 488 M - -
Net Debt 2022 25 148 M - -
P/E ratio 2022 2 949x
Yield 2022 -
Capitalization 1 475 B 1 475 B -
EV / Sales 2022 2,87x
EV / Sales 2023 2,43x
Nbr of Employees 1 608 000
Free-Float 85,8%
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Number of Analysts 52
Last Close Price 144,78 $
Average target price 173,71 $
Spread / Average Target 20,0%
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Andrew R. Jassy President, Chief Executive Officer & Director
Brian T. Olsavsky Chief Financial Officer & Senior Vice President
Jeffrey P. Bezos Executive Chairman
Patricia Q. Stonesifer Independent Director
Jonathan Jake Rubinstein Lead Independent Director
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