SpaceX is on pace to break records again as Elon Musk estimates the company’s 2025 revenue at $15.5 billion. That projection reflects an aggressive push in both satellite internet services and rocket launches. SpaceX’s progress is quickly outpacing what most in the industry expected just a few years ago.

Elon Musk said,

“SpaceX revenue this year will be ~$15.5B, of which NASA is ~$1.1B.”

This estimate places SpaceX’s commercial earnings above NASA’s 2025 space operations budget. The bulk of that income is tied to Starlink, the satellite internet project that has already reached breakeven cash flow and continues to grow. Starlink’s expansion now stretches across continents, including recent partnerships in India, though subject to regulatory review.

Elon Musk said,

“@SpaceX commercial revenue from space will exceed the entire budget of @NASA next year.”

Last year, SpaceX pulled in between $12 billion and $13 billion, up from about $9 billion in 2023. This year, the target includes an ambitious plan to launch 170 missions, surpassing the 134 completed in 2024. Those missions are supported by the company’s reusable Falcon rockets, which are in high demand in multiple commercial and defence sectors.

At the same time, SpaceX is actively working on its 122-meter Starship rocket, meant for future Mars missions. Despite two massive explosions during test flights in March and May 2025, the company continues to improve and enhance its development. The uncrewed Mars mission is still tentatively set for late 2026.

SpaceX also finds itself in the mix for the U.S. government’s ambitious “Golden Dome” missile defence shield. Alongside Palantir and Anduril, the company has proposed launching hundreds of satellites to track and neutralize threats from orbit. That program could bring tens of billions in federal funding by 2026.

Many milestones have stacked up; recent growth has also attracted scrutiny. Starlink’s rapid satellite deployments raised concerns about space debris and interference with scientific observation. Still, Musk’s long-term strategy shows no signs of slowing down, with plans for a Starlink IPO still on the horizon.