Amazon prepares to launch first batch of Project Kuiper satellites
Seeking Alpha News (Wed, 02-Apr 3:12 PM)
Amazon's (NASDAQ:AMZN) countdown to launching an initial batch of satellites for its new internet network known as Project Kuiper approaches, with a date set for April 9.
The 27 satellites will blast off aboard the United Launch Alliance Atlas V rocket from Cape Canaveral Space Force Station in Florida. It will deploy the satellites 280 miles above the Earth's surface. This marks the first of more than 80 planned launches, which will eventually deploy about 3,200 low Earth orbit satellites.
The satellites will allow Amazon to deliver high-speed, low-latency internet to nearly any spot on the planet. Amazon expects to begin rolling out service to customers later this year. No pricing details are available yet
"We've designed some of the most advanced communications satellites ever built, and every launch is an opportunity to add more capacity and coverage to our network," said Rajeev Badyal, vice president of Project Kuiper.
Amazon shares were up 2% by afternoon trading on Wednesday.
In addition to utilizing United Launch Alliance, which is a joint venture between Boeing (BA) and Lockheed Martin (LMT), other launch providers will include Arianespace, Blue Origin and SpaceX.
SpaceX, which is run by Tesla (TSLA) CEO Elon Musk, also happens to be the primary competitor for Amazon's Project Kuiper. SpaceX's Starlink, a global internet provider, currently has more than 7,000 satellites in orbit. Starlink prices range from $50 to $5,000 per month.
Amazon's satellites will use electric propulsion systems to eventually reach an assigned orbit of 392 miles above the Earth, and will travel at 17,000 miles per hour, circling the planet every 90 minutes.
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