The space economy is heating up, offering opportunities for companies across a multitude of industries. AST SpaceMobile is one such company set to benefit from the growth of the space economy. It is on a mission to build a global cellular broadband network in space. The SpaceMobile Service would provide high-speed broadband services to everyday smartphone users as well as commercial and government customers.

The SpaceMobile Service is intended to be powered by a constellation of satellites in low earth orbit (LEO). The broadband service has yet to launch and therefore has not generated any revenue. However, there is a large addressable market for the SpaceMobile Service, with around 6 billion mobile subscribers globally. Many mobile users move in and out of coverage and experience issues with consistent connectivity.

Headquartered in Texas, AST SpaceMobile has been on a winning streak. In February 2026, AST SpaceMobile entered into a $30 million contract with the U.S. Space Development Agency. The company is also a prime beneficiary of the U.S. Missile Defense Agency’s $151 billion defense budget. In April 2026, the Federal Communications Commissions (FCC) granted the company authorization to deliver supplemental cellular broadband coverage from space to mobile devices across the United States. This is a major breakthrough for AST SpaceMobile and their plans to launch a 248-satellitle non-geostationary orbit constellation to provide cellular broadband services in LEO.

The satellite designer has also entered into a number of contracts with leading mobile network operators. AST SpaceMobile has entered into a space-based wireless connectivity agreement with AT&T to provide its high-speed broadband services to AT&T users in the United States. AST SpaceMobile has signed a similar agreement with Verizon for U.S. coverage. It has also signed agreements with Vodane and Saudi Telecom Company to provide its SpaceMobile Service to end users in Europe and the Middle East, respectively. AST SpaceMobile has agreements with more than 50 mobile network operators and has secured more than $1 billion in revenue commitments from strategic partners.

Abel Avellan, the founder and CEO of AST SpaceMobile, is optimistic about the recent positive developments for the company: “We are accelerating deployment of our constellation, advancing integration with leading mobile network operators, and preparing to deliver seamless, space-based cellular broadband directly to everyday smartphones, bringing us closer to connecting people everywhere.”

According to a report published by McKinsey, the space economy could be worth $1.8 trillion by 2035. The space economy includes everything from satellite technologies to space tourism. A significant portion of growth in space economy is expected to stem from space-based technologies for communications, earth observation, monitoring, navigation, and defense systems for detecting threats from space objects.

Building and launching as satellite network in space involves significant costs and regulatory approvals. Furthermore, AST SpaceMobile faces competition from SpaceX’s Starlink, Globalstar, and other more established companies developing satellite communication technologies.

Despite the competitive landscape, AST SpaceMobile remains a leading player. The company has an intellectual property portfolio consisting of nearly 4,000 patents and pending patent applications.