Starlink, Elon Musk's satellite internet service, is experiencing significant global user growth and increased app downloads, according to a market research report. This surge in activity is bolstering expectations for SpaceX's potential public market debut later this year.
In the first quarter, both global app downloads and monthly active users (MAU) for Starlink more than doubled compared to the previous year. The service has now achieved over 100 percent MAU growth for four consecutive quarters.
Investor focus is heavily on Starlink, which is anticipated to drive SpaceX's valuation towards an estimated $1.75 trillion. The unit reportedly generated $11.4 billion in revenue last year.
Growth is robust in both emerging and established markets. Brazil saw a fivefold increase in MAUs year-over-year, now representing about 13 percent of the global user base. Argentina reported 159 percent user growth. These two South American markets now account for over a fifth of all active users.
The United States, Starlink's largest and most profitable market, also demonstrated strong performance, with app downloads tripling year-over-year to 1.2 million in the first quarter. This acceleration in subscriber acquisition comes as Starlink's subscriber base surpassed 10 million in February.
Analysts emphasize that continued subscriber growth is critical for public market investors. Future expansion plans, including the development of orbital data centers, are also being closely watched as the next phase of growth.