It won’t happen without limiting liability. NWS can’t be sued.
Doesn’t the military have their own weather forecasting?
When I was a USAF forecaster back in the day the USAF had Global Weather Central (GWC) at Offut AFB, NE and the Navy had Fleet Weather Central at Monterey, CA. There have been lots of ‘realignments’ over the years but those places were strictly for support of the individual branches of service.
Question 1: Will a privatized service have the financial ability to replace a satellite when one goes down without government subsidy?
Question 2: What’ll all those unneeded NWS Meteorologists and their overpaid and numerous overlords in Silver Springs and DC do?
And finally: What happens when the privatized company(s) goes bust?