SpaceX wants to beam internet across the southern U.S. by late 2020

New York (CNN Business) SpaceX wants to become one of the world's largest internet providers by deploying a constellation of thousands of satellites to beam broadband from space. And it wants to get it done fast.

Over the past week, the company laid out plans to launch an unprecedented number of rockets next year, with as many as 24 missions dedicated solely to hauling batches of its broadband-beaming satellites into space. SpaceX recently asked regulators for permission to rearrange its planned constellation, dubbed Starlink, in a way that would allow fewer satellites to cover more territory, according to documents filed with the Federal Communications Commission.

By the end of 2020, SpaceX could be delivering high-speed internet coverage across the southern United States.

Separately, a report published by Morgan Stanley on Tuesday estimates that Starlink could turn SpaceX into a $52 billion company, adding about $20 billion to its current valuation and potentially making it the most valuable private company in the US.

Its coverage area could grow to include US territories, such as the US Virgin Islands and Puerto Rico, by the time the 2021 hurricane season ends, according to the documents. One key benefit of reaching those areas: satellite internet access wouldn't be wiped out by bad weather. Currently, those areas — and the majority of consumers around the world — get service via ground-based systems, such as cell towers or fiber optic cables, that can be knocked offline during storms.