Space is on the path to becoming a multi-trillion-dollar industry. While endeavors like Starship and Mars colonization may seem ambitious, we often overestimate what can happen in the near term and underestimate what can happen in a decade. Not long ago, SpaceX landed its first rocket; today, they're launching three times a week, revolutionizing the space and satellite industry and setting their sights on Moon, Mars and beyond.
Delivering >80% of the world's payload to orbit: In 2023, SpaceX achieved a record 96 launches, a 57% increase from 2022, and aims for over 140 launches in 2024, including six Starship missions. SpaceX now accounts for >80% of the world's payloads (87% in 1Q 2024), lifting over 1.2 million kilograms into orbit. The Falcon rockets boast 330 successful launches, delivering approximately 1,000 metric tonnes of payload, with 290 landings and over 260 re-flights, remaining the only reusable orbital-grade rockets.
Starship advancements: The third test flight of Starship on March 14, 2024, achieved orbital velocity and completed its full-duration ascent burn. A fourth test flight is planned for late 2Q 2024. Once operational, Starship will radically change space economics, enabling unprecedented missions and lowering the cost of access to space.
Starlink rapid growth: Starlink is addressing significant market needs, with over 3 billion people globally unconnected and 42 million Americans lacking broadband access. The US alone represents a potential $10 billion annual market. As of May 21, 2024, Starlink reached 3+ million users across 100 countries, with over 6,000 satellites launched, making up about 70% of all active satellites. Starlink achieved breakeven cash flow in November 2023, marking a key milestone towards an IPO.
Starlink's potential: Traditional regional network carriers are valued as high as $300 billion in enterprise value individually. Starlink, while not directly competing with land-based infrastructure, offers a more cost-effective solution compared to building out traditional networks, and has the potential to become a super-regional / global network operator, offering expansive connectivity and substantial economic impact.
What’s next: In the next 3-7 years, we could see SpaceX achieve multiple Moon landings with Starship, send missions to build colonies on Mars, realize Earth point-to-point travel, and expand Starlink, potentially increasing the global telecommunications market by over 10% by connecting currently unconnected populations.