Amazon this week announced plans to acquire Globalstar, the satellite company that powers Apple's satellite features on the iPhone 14 and newer and the Apple Watch Ultra 3. In turn, Amazon announced that it has signed an agreement with Apple to provide satellite connectivity for current and future iPhone and Apple Watch features.

The transaction, subject to regulatory approval, is expected to close in 2027. At that point, Apple's features will be powered by Amazon Leo satellites.
Apple's current satellite features:
All of the features are currently free to use in supported areas without Wi-Fi or cellular connectivity. Availability varies by country.
There were already five more iPhone satellite features or enhancements rumored to be in the works, even before Amazon announced this deal with Apple. At least some of the improvements may be part of iOS 27, which is expected to be available in beta starting in June and widely released in September this year.
Those enhancements are as follows:
Amazon's announcement mentioned future features, too, so Apple's suite of satellite functions should expand even more over the coming years.