Businesses like Intelsat's have high barriers to entry (literally!). If the business were easier to get into, competition would be fiercer, and the margins would be quickly erased.
Consider Uber vs taxis - if there were massive entry costs to the cab / private car category, a company like Uber would have trouble raising enough money to get launched. So the existing cabs wouldn't ever experience the competitive pressure from Uber, because it would never enter the market.