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Amazon To Invest More Than $10 Bln In US For Satellite-based Broadband Services

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Amazon said it will invest more than $10 billion in satellite-based broadband services in the United States, following approval by the Federal Communications Commission (FCC) for the project.

Amazon's ambitious project called Kuiper is the company's plan to launch a constellation of 3,236 low-Earth orbit (LEO) satellites to provide high-speed, affordable broadband service to people around the world, who are not able to access such facility.

"There are still too many places where broadband access is unreliable or where it doesn't exist at all. Kuiper will change that. Our $10 billion investment will create jobs and infrastructure around the United States that will help us close this gap," said Dave Limp, Senior Vice President, Amazon.

The project will also serve wireless carriers extending LTE and 5G service to new regions, Amazon said.

The space industry could generate more than $1 trillion by 2040, Morgan Stanley cited in a release last week.

Elon Musks' SpaceX, which is moving along the same lines has launched 540 satellites out of 12,000 planned, to be used for its Starlink project of providing satellite internet access.

Starlink, whose product development began in 2015, is aiming to provide service in the Northern U.S. and Canada this year, expanding to near-global coverage by 2021, its website said.

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