The two companies have already begun working on two of the three ViaSat-3 satellites, which will deliver more than 1 Terabit (1,000 Gbps) of capacity each. ViaSat will design and manufacture the payload and Boeing will be tasked with developing the "associated satellite bus platforms" ahead of a 2019 launch. The first two satellites cover the Americas and Europe, Middle East and Africa (EMEA) and the third will serve Asia.

Once in orbit, the ViaSat-3 array will be capable of delivering 100 Mbps internet to residential properties and will offer gigabit speeds to commercial companies in the air and oceanic sectors. Most importantly, ViaSat-3 aims to provide affordable internet to millions of people, many of whom are out of the reach of traditional networks and currently don't have access to the internet.

ViaSat says it already has much of its infrastructure in place -- its first generation 140 gigabit satellite already serves 687,000 subscribers in the US -- giving it an edge over other companies and consortiums looking to connect the world from space. "The key technologies underlying ViaSat-3 are in hand today," says ViaSat CEO Mark Dankberg. "[It'll enable] us to move forward in building the first broadband platform to bring high-speed internet connectivity, including video streaming, to all."