Elon Musk announced on Tuesday that SpaceX, the rocket manufacturer, will generate roughly $15.5 billion in revenue this year, highlighting the company’s increasing supremacy in the commercial space industry.
In a post on X, Musk predicted that the company’s space-related commercial earnings would surpass NASA’s about $1.1 billion budget for the upcoming year.
NASA is still providing funding for research and deep space exploration projects, but SpaceX has relied on the rising demand for affordable launch services and satellite communications to make money.
As stated by the richest person in the world, the corporation is working on a 400-foot (122-meter) tall Starship rocket system, which is essential to placing humans on Mars.
Launch costs have been drastically lowered by the company’s reusable Falcon 9 and Falcon Heavy rockets, which have allowed SpaceX to gain a sizable portion of the worldwide launch market.
SpaceX became the world’s most active launch operator in 2024 after setting a record with 134 Falcon launches.
SpaceX stated last week that it hopes to surpass that record with 170 launches by the end of the year in an effort to fulfill the increasing demand for satellite deployment.
However, SpaceX’s core business is its satellite internet service, Starlink, which Musk has stated would go public but has not specified when.
Musk announced that Starlink had reached breakeven cash flow at the beginning of November 2023. SpaceX has launched thousands of satellites under the Starlink brand to provide broadband internet throughout the world.
According to Reuters, which cited six people with knowledge of the situation, SpaceX and two partners have become the front-runners to win a key component of US President Donald Trump’s “Golden Dome” missile defense shield. This information was revealed in April.
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