Starlink Is Dominant—Is There Still Room for Others?

Five years ago, enthusiasm was building. Today, many ask: with Starlink so powerful, is there space for a “number two”?

A pragmatic consensus from recent conversations:
1. On pure commercial grounds, it’s extremely hard to compete head-to-head with Starlink.
2. The most realistic path is to build localized value-added services and industry solutions on top of Starlink.

Yet the world will not have only one satellite-communications system. That’s both fortunate and unfortunate.

Why fortunate?
Multiple systems mean manufacturers, local operators, and supply chains can still capture value.
Just as the dollar’s dominance hasn’t eliminated the euro, yen, or RMB, satcom is likely to be multipolar.

Why unfortunate?
Parallel systems imply massive capex and duplication.
Scarce resources get spread thin—money that could otherwise serve urgent social needs.

The push for “sovereign, controllable” space infrastructure is rising. China recognized this 20+ years ago: what you can buy or access today may not be available tomorrow. Hence the decision to build our own space station, BeiDou, and remote-sensing constellations. Now this awakening is global—nations are pursuing end-to-end capability, from rocket engines to data algorithms—if we set aside commercial returns as the primary constraint.

Think of it as a long game of iterated strategy. The cycle can continue indefinitely; outcomes hinge on where you place your bets. Technological progress and its diffusion deserve pride—but when engineering tries to substitute for millions of years of natural evolution, the costs and side effects are bound to be significant.

As for commercial space: the real bubble may not be here yet—but it will likely come (perhaps in ~10 years). Until then, the party goes on.

Questions to spark discussion:
In a Starlink-led world, where are the local “value-add” wedges: industry apps, compliance, data sovereignty, managed services?
How should companies balance sovereignty and global collaboration across capital and tech roadmaps?
For investors, at which step to place the bet: infrastructure, terminals, vertical SaaS, or data services?