Amazon is looking to expand its empire and Morgan Stanley believes Jeff Bezos' ambitious satellite internet plan may become one of its most lucrative businesses.

Called Project Kuiper, Amazon aims to launch a network of 3,236 small satellites to create an interconnected network that beams high-speed internet to anywhere on Earth. While Amazon has yet to outline a timeline or cost for Project Kuiper, in a note on Monday to investors, Morgan Stanley analyst Adam Jonas highlighted the network's potential.

Jonas said Project Kuiper represents as much as a "$100 billion opportunity," marking it as a play in the consumer broadband sector of the space economy. Morgan Stanley's estimate is based on its expectation that the space economy will grow to more than $1 trillion over the next 20 years. The firm's comments came in a feature on Bezos' space business Blue Origin, the latest in Morgan Stanley's series on "space disruptor" companies.