Elon Musk has floated one of his biggest projections yet for SpaceX: the company could generate about $1 trillion in revenue by 2030. Responding to a revenue forecast from Morgan Stanley, Musk said SpaceX may hit that level by the end of the decade and added that he would be surprised if revenue were still below $1 trillion in 2031. The remark quickly became a talking point across social platforms.
A bold revenue target lands just after the IPO
The timing is central to why the statement drew so much attention. SpaceX began trading on Nasdaq on June 12 under the ticker SPCX, with an opening price of about $174. Its market capitalization briefly climbed above $1.765 trillion. According to the source material, the company had just completed the largest IPO on record, and the listing also made Musk the first trillionaire in history.
How large is a $1 trillion revenue business?
Set against today’s biggest public companies, the scale is clear. Walmart posted roughly $681 billion in revenue for fiscal 2025, while Apple reported about $391 billion for fiscal 2024. On that basis, Musk’s projection implies a future SpaceX with annual revenue above the current leaders of the global corporate world.
For now, SpaceX is still mainly tied to launch services and Starlink. The source says that by 2026, Starlink had expanded to more than 100 countries, with user numbers continuing to grow and the business moving deeper into enterprise and government network markets. The other major growth thesis is Mars transportation. If Starship reaches maturity as a fully reusable rocket, the source argues that launch costs per unit could theoretically fall by one to two orders of magnitude, opening new markets in space cargo, lunar bases, and Mars settlement.
The gap from current revenue remains enormous
By conventional revenue-growth standards, the target is still extremely aggressive. Based on the source’s estimate of $3 billion to $5 billion in 2025 revenue, SpaceX would need to expand sales by roughly 20 to 30 times over the next four years to reach $1 trillion by 2030. That is a steep path even for a fast-growing company.
The article also points to Musk’s history of making ambitious projections during Tesla’s rise. Tesla produced only 35,000 vehicles in 2014, and that figure had climbed to 1.8 million by 2024. In that framing, the post-IPO case around SpaceX is no longer just about valuing a launch company. It is also a bet on how large the space economy can become.