SpaceX is looking to bring super-fast Internet to the world by launching 4,425 satellite into space. The company provided the details of the project in its filing with Federal Communications Commission. SpaceX CEO Elon Musk had first floated this idea in 2015. He had estimated the cost to be around $10 billion.

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SpaceX plans to send 800 satellites into space during the first phase of the super-fast internet project. These satellites will be used for expanding internet reach in the United States. The filing did not provide the timeline for the launch of these and subsequent satellites.

The satellites are expected to orbit at the altitude of 1,150 kilometers and 1,275 kilometers. Each satellite will cover an area of 2,120 kilometers and is expected to weigh 850 pounds. The estimated lifespan of the satellites is expected to be five to seven years.

At full capacity, the system will able to offer 1gb per second bandwidth. The current average speed for Internet stands at 5.6 megabytes per second, according to the Akamai State of the Internet report released at the end of last year.

Apart from SpaceX, Boeing, and OneWeb, an Airbus-backed company is also said to be involved in similar projects for offering Internet through satellite networks. Boeing has already filed an application with the FCC.

In its filing, SpaceX stated, "The system is designed to provide a wide range of broadband and communications services for residential, commercial, institutional, government and professional users worldwide."

Earlier this year, it was speculated that Google and Fidelity might have pumped $1 billion into SpaceX for this super-fast internet project. However, the filing did not provide the cost structure or financing details of the project. The FCC filing also revealed that Musk has a 54 percent stake in SpaceX, in comparison to 22 percent share he holds in Tesla.