BofA Sees $14B Annual Revenue Opportunity for Amazon Leo by 2032

Bank of America now projects Amazon Leo could generate roughly $14 billion in annual consumer broadband revenue by 2032 on a 25% market share, citing accelerating launches and nearing commercial service. The bullish outlook follows rapid technical progress revealed in mid-May, when Amazon disclosed ~300 satellites in orbit and production scaling to tens per week. Momentum continued with an EU spectrum allocation proposal on 26 May and Delta Air Lines’ 18 May decision to equip 500 aircraft with Leo service starting in 2028, underscoring growing commercial traction ahead of Q3 2026 revenue.