SpaceX, the space-exploration firm led by Elon Musk, is expected to bring in approximately $9 billion in revenue this year, with projections indicating that revenue will increase to around $15 billion in 2023. This growth is largely driven by the company’s satellite-based internet service, Starlink, which is projected to contribute $10 billion to next year’s revenue.
According to sources, Starlink has approximately two million subscribers and generated $1.4 billion in revenue in 2022. In 2021, the service earned $222 million in revenue. Elon Musk had previously predicted that Starlink would bring in $12 billion in revenue by 2022.
SpaceX continues to explore various revenue streams related to Starlink. The company recently won a $70 million government contract for Starshield, an offshoot of Starlink. In partnership with T-Mobile, SpaceX is also working to provide direct-to-cell technology using its vast constellation of satellites.
To date, SpaceX has launched a total of 278 rockets, with a majority of them being Starlink missions. The Starlink constellation currently consists of over 5,000 satellites. Additionally, several airlines are partnering with Starlink’s Aviation offshoot to improve in-flight internet connectivity.
These revenue projections come shortly after Elon Musk announced on Twitter that Starlink had achieved break-even cash flow, praising the team’s excellent work.
As SpaceX looks ahead, the expansion of Starlink’s subscriber base and continued advancements in satellite technology are expected to drive significant revenue growth for the company in the coming years.