Elon Musk said that SpaceX’s revenue in 2024 will be $15.5 billion. If the growth rate continues, next year the company will overtake NASA in terms of funding for space activities.
Elon Musk said that SpaceX’s revenue in 2024 will be $15.5 billion. If the growth rate continues, next year the company will overtake NASA in terms of funding for space activities.
The founder of SpaceX announced this on his page on the social network X. According to Musk, the company’s revenues are growing so rapidly that in 2025 they may exceed NASA’s budget for space missions, which is approximately $1.1 billion. The main source of profit remains the Starlink satellite internet project, which has already broken even in 2023.
A key role in SpaceX’s financial success is played by its high launch frequency: in 2024, the company carried out a record 134 missions, and next year it plans to carry out 170. Most launches are carried out by reusable Falcon 9 and Falcon Heavy rockets, which have made access to orbit much cheaper compared to competitors.
SpaceX’s financial growth story is an example of the transformation of the space industry under the influence of private business. In 2008, the company was on the verge of bankruptcy, but its first contract with NASA saved it from closure. Since then, SpaceX has become a global player in the field of orbital transportation and satellite communications. If in 2020 the company earned $2 billion, then in 2023 it will already be over $9 billion. Now Musk sets a new goal — to dominate not only the launch market, but also in the field of global internet, defense and colonization of other planets.
In parallel, the company is actively developing the Starship mega-rocket as the main element of future manned missions to the Moon and Mars. During the last, ninth test, both stages of the rocket were lost, but the flight itself partially achieved its technical goals. Musk regularly emphasizes that Starship should become the main tool of interplanetary transport of the future.
Beyond launches and Starlink, SpaceX is also expanding beyond the purely commercial sector. According to Reuters, the company could be given a role in building elements of the US missile shield known as Golden Dome, part of a defense initiative launched by the Trump administration.
Recently, our page also published an article about how SpaceX’s Starship recently exploded during a test flight, which was the third consecutive failure for Elon Musk’s company.
