Elon Musk said Tuesday that SpaceX will record about $15.5 billion in revenue this year, highlighting the company’s rising dominance in the commercial space industry.
“The company’s commercial revenue from space will exceed NASA’s budget of roughly $1.1 billion next year,” Musk said in a post on X.
The company’s growth is largely fueled by strong demand for cost-effective satellite communications and launch services, a market where SpaceX now holds a substantial share thanks to its reusable rockets. The Falcon 9 and Falcon Heavy systems have significantly lowered launch costs, helping the company become the most active launch operator in the world.
In 2024, SpaceX completed a record-breaking 134 Falcon launches. The company aims to top that with 170 launches by year-end, it said last week, citing rising demand for satellite deployment.
Still, the bulk of SpaceX’s revenue comes from its satellite internet service, Starlink. Under that program, the company has deployed thousands of satellites to provide broadband coverage globally. Musk said in November 2023 that Starlink had reached breakeven cash flow and has signaled intentions to take the business public, though no timeline has been given.
While NASA continues to focus on deep space exploration and research, SpaceX has taken a more commercially driven path. The company is developing the 400-foot (122-meter) tall Starship rocket system, which Musk has said will be critical to sending humans to Mars.
