Space Exploration Technologies Corp.'s
American Tower Sees a Potential Customer
Speaking on American Tower's third-quarter earnings call, Vondran said satellite services and terrestrial networks are complementary. A company seeking to operate in U.S. wireless, he argued, still needs a ground-based presence.
"It also reinforces what we've been saying all along, which is satellites are a complementary technology to terrestrial networks, that you need a terrestrial presence if you're going to try to operate in the wireless space in the U.S. market," Vondran said.
He cited Starlink's public statements and "the concrete steps that they're taking to build that layer cake of spectrum" needed to become a viable U.S. wireless player.
Vondran declined to discuss specific conversations with Starlink, but said any company seeking to build a U.S. network at scale would likely approach American Tower. "You should assume that anybody who wants to build a network in the U.S. at scale is going to come to American Tower as one of their premier tower vendors, if not the premier tower vendor," he said.
Dish Equipment Adds Another Angle
American Tower also owns equipment left on its towers after Dish Network's bankruptcy. Vondran said a court abandonment order transferred ownership of that equipment to American Tower, which can provide access to interested parties.
He did not say Starlink had expressed interest in using the equipment. Asked about conversations with other satellite companies, Vondran said American Tower was talking to parties exploring ways to enter wireless, including building, buying or operating a network.
'Upside' Not in the Forecast
American Tower is not counting satellite operators as a long-term growth driver in its assumptions. CFO Rodney Smith said the company is "not really building any of that into the long term," adding that satellite-carrier investments "could certainly represent upsides," depending on their ambitions and scale.
For now, that upside remains prospective. American Tower's broader leasing outlook is supported by rising mobile-data use, network densification and future spectrum deployment. Vondran also said AI-related equipment has yet to become a meaningful driver on tower sites.
Investors should watch for concrete network plans, spectrum developments and disclosed customer agreements. A Starlink deployment could create incremental leasing and services opportunities, but until American Tower confirms a deal or provides timing details, the potential is optionality rather than revenue investors can model.
