"The system is designed to provide a wide range of broadband and communications services for residential, commercial, institutional, government and professional users worldwide," SpaceX said in the FCC filing.
SpaceX's satellites will orbit at altitudes between 1,150 kilometers and 1,275 kilometers, allowing each one to cover a space of around 2,120 kilometers wide. According to the official filing, each satellite will weigh around 850 pounds and be the size of a small car.
Once "fully optimized", the system will be able to provide bandwith of 1 gigabytes per second for users globally. That's over 180 times faster than the current global internet speed average of 5.6 megabytes per second which was recorded in the Akamai State of the Internet report at the end of last year.
Reports earlier this year suggested Google and Fidelity had invested $1 billion into SpaceX to support the satellite project.
SpaceX is not the only company with such ambitions. Boeing has filed an FCC application to also launch satellites while OneWeb, a company backed by Airbus, is also planning a similar project.