Stock Markets April 14, 2026 01:36 PM

Analysts Say Amazon’s $11.6 Billion Globalstar Purchase Won’t Solve Launch Shortfall

Deal expands Amazon’s spectrum and satellite footprint but does not address the bottleneck in rocket availability limiting constellation deployment

By Nina Shah AMZN
Analysts Say Amazon’s $11.6 Billion Globalstar Purchase Won’t Solve Launch Shortfall
AMZN

Amazon’s acquisition of Globalstar for $11.6 billion strengthens its position in satellite and wireless spectrum assets, but industry analysts caution the transaction does not resolve the critical shortage of rocket launches that has slowed deployment. With only 243 of the 3,236 satellites Amazon promised in 2019 placed in orbit, the company remains exposed to third-party launch constraints even as it competes with SpaceX’s much larger, internally launched Starlink network.

Key Points

  • Amazon’s $11.6 billion acquisition of Globalstar enhances its satellite and spectrum holdings but does not remove the shortage of available rocket launches that has slowed its deployment.
  • Amazon has placed 243 of the 3,236 satellites it pledged in 2019 into orbit, while SpaceX has reached about 10,000 satellites using its own rockets, giving SpaceX a substantial lead in scale and coverage.
  • Sectors most affected include aerospace manufacturers and launch service providers, satellite broadband operators, and regulatory bodies overseeing spectrum and deployment timelines.

Amazon’s move to buy Globalstar for $11.6 billion adds radio spectrum and satellite technology to its space ambitions, but it does not remove the most immediate barrier to building a large-scale low-Earth orbit broadband network - the limited supply of reliable rocket launches, analysts say.

Company filings and industry commentary show Amazon has launched just 243 of the 3,236 satellites it pledged in 2019. That shortfall stems from a combination of rocket shortages, manufacturing interruptions and launch postponements, which together have slowed the pace at which Amazon can put hardware into orbit.

That constraint has forced Amazon to rely on external launch providers. In one indication of that reliance, the company has used Falcon 9 rockets owned by a competitor to carry payloads into space. Such dependence on third-party launch services constrains how quickly Amazon can expand its network, analysts warn.

By contrast, SpaceX has largely used its own rockets to accelerate Starlink deployment. The company has reached a markedly larger scale and coverage with an estimated 10,000 satellites in orbit, creating a significant lead in constellation size.

Both firms are targeting the market for satellite-delivered internet, a segment that could include airlines, cruise operators, remote business sites and populations without reliable terrestrial broadband. But analysts say that, even after the Globalstar deal, the structural gap in deployment speed between Amazon and SpaceX remains.

"Unless Amazon can solve deployment speed and launch access, the gap remains structural, not just numerical," said Gregory Radisic, a senior teaching fellow and lecturer at Bond University.

Globalstar’s existing network architecture is tailored toward direct connections to mobile devices. Starlink has concentrated on broader broadband services, and is pursuing similar mobile device connectivity through partnerships with telecommunications firms.

This year Amazon formally asked the U.S. Federal Communications Commission for a two-year extension to a July deadline to deploy about 1,600 satellites, roughly half of its originally planned constellation. The FCC has not ruled on that request.

Regulatory scrutiny has increased as deployment has lagged. FCC Chair Brendan Carr publicly criticized Amazon’s pace after the company objected to a proposal by a rival to launch a much larger constellation. Carr, who will have influence over the approval of the Globalstar transaction, described the agency as "very open-minded" about the acquisition.

Amazon may ultimately look to in-house launch capacity to reduce its dependence on outside providers. Blue Origin, the rocket-maker founded by Jeff Bezos, is developing New Glenn, a partially reusable heavy-lift vehicle intended to carry substantial satellite payloads. New Glenn conducted a debut flight in January 2025 and is undergoing additional testing as Blue Origin works towards more frequent missions.

However, New Glenn has not yet reached the steady launch cadence Amazon would need to scale its constellation rapidly, so third-party launch reliance persists for the near term.

Market observers note the sector is attracting substantial capital and competition. "What’s certain is that the space race is heating up and big money is expected to be ploughed into this industry over the coming years," said Dan Coatsworth, head of markets at AJ Bell.

The transaction adds spectrum and a different technical approach to Amazon’s toolbox, but analysts say those assets will not overcome the operational bottleneck created by limited rocket availability and launch schedule risk. Until deployment speed and consistent launch access are addressed, Amazon will be working to close a lead that SpaceX has already built through vertical integration of manufacturing and launch capabilities.

Separately, some retail-facing commentary in the market has referenced the question of whether investors should allocate capital to Amazon shares, with the ticker AMZN referenced in investor tools and strategies assessing the company’s prospects amid these developments.

Risks

  • Launch cadence risk - continued shortages and delays in rocket availability could prolong Amazon’s deployment timeline and keep it dependent on competitors and third-party launch providers, affecting aerospace and satellite service markets.
  • Regulatory uncertainty - the FCC has yet to rule on Amazon’s request for a two-year extension for deployment and will have input on the Globalstar acquisition; regulatory decisions could influence timing and strategy for satellite rollouts, impacting telecom and spectrum-dependent services.
  • Operational execution - New Glenn’s current testing phase and its unproven regular launch cadence mean Amazon cannot yet rely on that in-house option to scale rapidly, creating execution risk for the company’s satellite ambitions and related capital allocation decisions.

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