Brokerage raises 2035 space revenue forecast to $800 billion as Starlink expansion threatens legacy broadband providers.
SpaceX’s Starlink unit is poised to disrupt the $1.6 trillion U.S. communications industry, according to Oppenheimer, as its satellite broadband expansion pressures legacy providers like AT&T and cable firms. The brokerage increased its 2035 space revenue estimate to $800 billion from $500 billion, citing Starlink’s potential to dominate critical applications and boost pricing power.
Oppenheimer also raised its 2030 U.S. broadband subscriber forecast to 15 million from 10 million, warning that telecom giants may face accelerated subscriber declines. The firm suggested SpaceX could extend its reach into the $500 billion handset market, further challenging incumbents.
SpaceX is set to debut on the Nasdaq on June 12, targeting a $1.75 trillion valuation in its IPO, which could amplify its market influence.