Elon Musk, the world’s richest person, forecasts that his aerospace company SpaceX will generate revenue of about US$15.5 billion (A$24 billion) in 2025.
This would exceed the budget of National Aeronautics and Space Administration (NASA) of about $1.1 billion, Musk wrote in a post on his social media site X.
“Perhaps an interesting milestone: @SpaceX commercial revenue from space will exceed the entire budget of @NASA next year. SpaceX revenue this year will be ~$15.5B, of which NASA is ~$1.1B,” he wrote.
SpaceX (Space Exploration Technologies Corp.) was founded by Musk in 2002 to revolutionise space technology and allow people to travel to other planets including Mars.
SpaceX's revenue for 2024 has been estimated at between $13.1 billion and $14.2 billion, up from $8.7 billion in 2023.
SpaceX is known for its reusable rocket technology which has significantly reduced launch costs and allowed the company to command a large share of the global launch market.
The company has set a target of 170 launches of its reusable Falcon rockets in 2025, surpassing the record of 134 set last year.
But most of SpaceX’s revenue is from its Starlink satellite internet service, leveraging rising demand for cost-effective launch services and satellite communications.
