Elon Musk, chief executive of SpaceX, said the company's Starlink Satellite Internet service "will double the speed of customers later this year.". "Later this year, the speed will double to ~ 300MB / s and the delay will drop to ~ 20ms," Musk said on social media on Monday.

By the end of 2021, Starlink's services will reach most of the world's customers, musk added, and is expected to reach full coverage next year.

Starlink, like other satellite broadband services, is targeted at customers in "low and medium population density areas," he stressed.

Starlink is a satellite internet project of SpaceX. From 2019 to 2024, SpaceX plans to use five years to send thousands of satellites needed for networking into low earth orbit to form a "star chain" network to provide high-speed Internet services.

SpaceX's leadership had previously estimated that Starlink's construction cost was about $10 billion or more, but believed that the network service could generate $30 billion a year, more than 10 times the annual revenue of its existing rocket business.

SpaceX completed an equity financing of $850 million two weeks ago, which is expected to be used for Starlink and starship.

So far, SpaceX has launched more than 1000 satellites for Starlink. Last October, SpaceX launched its early services in the form of a public beta to customers in the United States, Canada and the United Kingdom. The service price is $99 per month, plus the upfront cost of the hardware required to connect to the network is $499.

The company recently expanded the scope of the public beta and allowed potential users to book Starlink services. SpaceX disclosed in a filing with the Federal Communications Commission (FCC) earlier this month that its Starlink Satellite Internet service now "has more than 10000 users in and outside the United States.".