Space companies want to deploy an unprecedented number of satellites in the years ahead. A key regulator wants to move faster to potentially approve those efforts.

The Federal Communications Commission recently voted to overhaul satellite-licensing rules, aiming to provide clearer standards for applicants. The FCC plays a major role in reviewing satellite networks and overseeing how fleets use wireless spectrum.

"We need to scale up at the FCC to match the pace and cadence of where industry is going," FCC Chairman Brendan Carr said in a recent interview.

The shift comes as companies including SpaceX and Blue Origin are rushing to secure permission to loft scores of satellites close to the planet. SpaceX's Starlink internet system is powered by around 10,000 satellites.

Policy and strategy firm Capstone expects a total of 50 satellite application submissions to the FCC this year, which would be up from 32 last year and seven in 2015.