Elon Musk projects SpaceX revenue of about $20b in 2025
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In 2024, SpaceX achieved a record-breaking year with 134 Falcon launches.
PHOTO: REUTERS
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WASHINGTON - Elon Musk’s SpaceX will record revenue of about US$15.5 billion (S$20 billion) this year, the billionaire said on June 3, underscoring the rocket maker’s growing dominance in the commercial space sector.
The company’s commercial revenue from space will exceed Nasa’s budget of roughly US$1.1 billion in 2026, Mr Musk said in a post on X.
While Nasa continues to fund deep space exploration and research missions, SpaceX has leaned on growing demand for cost-effective launch services and satellite communications to generate revenue.
The company is developing a 122m-tall Starship rocket system, which the world’s richest person has said will play a crucial part in sending humans to Mars.
The company’s reusable Falcon 9 and Falcon Heavy rockets have significantly reduced launch costs, enabling SpaceX to secure a substantial share of the global launch market.
In 2024, SpaceX achieved a record-breaking year with 134 Falcon launches, making it the most active launch operator globally.
SpaceX is targeting to beat that record with 170 launches by the end of the year, the company said last week, as it attempts to meet growing demand for satellite deployment.
Still, SpaceX’s revenue is driven largely by its satellite internet service, Starlink, which Mr Musk has said will go public, but has not provided a timeline.
In early November 2023, Mr Musk reported that Starlink had achieved breakeven cashflow. Under the Starlink banner, SpaceX has deployed thousands of satellites to deliver broadband internet globally.
SpaceX and two partners have emerged as front runners to win a crucial part of US President Donald Trump’s “Golden Dome” missile defence shield, Reuters reported in April, citing six people familiar with the matter. REUTERS
