SpaceX is projected to generate approximately $9 billion in revenue this year, according to sources familiar with the matter. The revenue will come from the company’s rocket launch and Starlink businesses. In 2024, sales are expected to increase to around $15 billion.
Sales for the Starlink business are anticipated to surpass the rocket launch business next year as the product becomes available in more regions worldwide. This growth in availability is expected to drive increased demand for Starlink services.
Excluding certain items, SpaceX is on track to report earnings of over $3 billion.
SpaceX has not yet responded to a request for comment.
As a private space exploration company founded by Elon Musk, SpaceX has gained significant attention for its accomplishments in the aerospace industry. The company’s achievements include successful rocket launches, the development of the Falcon and Starship series of rockets, and the creation of the Starlink satellite constellation.
The Starlink project aims to provide global broadband internet coverage by deploying a massive network of low Earth orbit (LEO) satellites. As of now, Starlink has already initiated beta testing and has begun providing internet service to select areas. The expansion of Starlink’s coverage is expected to drive substantial revenue growth for SpaceX in the coming years.
With the projected increase in revenue, SpaceX is well-positioned to continue its ambitious plans for space exploration and technological advancements. The company’s success in generating substantial revenue will likely support its ongoing mission of revolutionizing space travel and satellite communication technology.