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SpaceX’s Crew Dragon spacecraft nears launch debut as Falcon 9 tests wrap up

DM-1's rocket booster, Falcon 9 B1051, is nearly done with acceptance testing in Texas. (SpaceX)

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Known as Demonstration Mission 1 (DM-1), the inaugural flight of SpaceX’s Crew Dragon spacecraft is closer than ever before as the company wraps up ground testing of the rocket that will launch it.

Meanwhile, astronauts Doug Hurley and Bob Behnken are continuing to prepare for DM-2 – the first launch of Crew Dragon with crew onboard – by familiarizing themselves with SpaceX’s completed hardware, software, and procedures.

Originally expected to occur before the end of 2017, Commercial Crew partners SpaceX, Boeing, and NASA have been forced to repeatedly delay the inaugural uncrewed and crewed launches of both the Crew Dragon (SpaceX) and Starliner (Boeing) crew transport vehicles, which have slipped roughly 3-6 months with every quarterly schedule update.

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Generally speaking, the sources of those delays can be split evenly between NASA and its two commercial partners. A majority of the commercial-side slips can be attributed to unexpected hardware failures between the beginning of the Commercial Crew Program (CCP) and expected launch dates, with SpaceX experiencing two catastrophic failures of Falcon 9 (CRS-7 and Amos-6) and Boeing suffering a major anomaly while performing ground tests ahead of a Starliner pad-abort. Prior to the September 2016 Amos-6 failure of Falcon 9, SpaceX was arguably on track for the inaugural launch of Crew Dragon in late-2017/early-2018, having already completed a successful pad-abort demonstration in 2015 and eight successful launches since the CRS-7 failure.

The Statue and the Hare

Aside from serious hardware failures, the rest of SpaceX’s Commercial Crew delays can be blamed on the company’s tendency to relentlessly iterate, improve, and generally modify both its hardware and software, to the extent that SpaceX’s Vice President of Production stated in mid-2018 that “[SpaceX has] never built any two vehicles identically”. For NASA’s often dysfunctionally and counterproductively risk-averse human spaceflight divisions, that sentence alone is probably enough to trigger panic attacks. As a result, SpaceX has been led to significantly change its style of operations over the last several years, reaching some sort of compromise that was more acceptable to NASA.

Further, despite the failures of CRS-7 and Amos-6, SpaceX continued to dramatically modify Falcon 9’s design – a major vehicle-wide upgrade known as Falcon 9 1.2 (Full Thrust, Block 1) debuted on the CRS-7 return-to-flight, while Amos-6 would have been the first launch of Falcon 9 Block 3 and likely failed as a result of faster fueling procedures and much colder propellant. Less than a year later, SpaceX debuted Falcon 9 Block 4. Roughly half a year after that, SpaceX debuted Falcon 9 Block 5, perhaps the most significant upgrade to the rocket yet. Ultimately, all changes made to Falcon 9 and Crew Dragon translate into additional work for NASA and SpaceX, known formally as “certification” and informally as exhaustive testing sandwiched by mountains of paperwork.

 

In the case of the CCP, NASA itself has been a major source of delays as Boeing and SpaceX get much closer to launch dates and hardware is effectively completed, integrated, and ready to go. According to both Hans Koenigsmann (VP of Flight Reliability) and Gwynne Shotwell (President and COO) in the last few months, both executives were supremely confident that the hardware (Crew Dragon: capsule, trunk; Falcon 9: Merlins, upper stage, booster; Launch Complex 39A) would be ready for DM-1 no later than December 2018. Those statements imply that additional delays were unlikely to be a consequence of hardware readiness, indicating that delays beyond December would presumably be caused by paperwork and/or ISS scheduling.

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In this sense, it could well be the case that NASA’s behind-schedule completion of critical certification and approval paperwork – paperwork that NASA alone required and knew it would have to finish prior to launch for the last several years – will or already have delayed SpaceX’s first Crew Dragon launch by at least a month. DM-1 is currently targeting a launch in January 2019.


For prompt updates, on-the-ground perspectives, and unique glimpses of SpaceX’s rocket recovery fleet check out our brand new LaunchPad and LandingZone newsletters!

Eric Ralph is Teslarati's senior spaceflight reporter and has been covering the industry in some capacity for almost half a decade, largely spurred in 2016 by a trip to Mexico to watch Elon Musk reveal SpaceX's plans for Mars in person. Aside from spreading interest and excitement about spaceflight far and wide, his primary goal is to cover humanity's ongoing efforts to expand beyond Earth to the Moon, Mars, and elsewhere.

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Investor's Corner

SpaceX IPO is coming, CEO Elon Musk confirms

However, it appears Musk is ready for SpaceX to go public, as Ars Technica Senior Space Editor Eric Berger wrote an op-ed that indicated he thought SpaceX would go public soon. Musk replied, basically confirming it.

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Joel Kowsky, Public domain, via Wikimedia Commons

Elon Musk confirmed through a post on X that a SpaceX initial public offering (IPO) is on the way after hinting at it several times earlier this year.

It also comes one day after Bloomberg reported that SpaceX was aiming for a valuation of $1.5 trillion, adding that it wanted to raise $30 billion.

Musk has been transparent for most of the year that he wanted to try to figure out a way to get Tesla shareholders to invest in SpaceX, giving them access to the stock.

He has also recognized the issues of having a public stock, like litigation exposure, quarterly reporting pressures, and other inconveniences.

However, it appears Musk is ready for SpaceX to go public, as Ars Technica Senior Space Editor Eric Berger wrote an op-ed that indicated he thought SpaceX would go public soon.

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Musk replied, basically confirming it:

Berger believes the IPO would help support the need for $30 billion or more in capital needed to fund AI integration projects, such as space-based data centers and lunar satellite factories. Musk confirmed recently that SpaceX “will be doing” data centers in orbit.

AI appears to be a “key part” of SpaceX getting to Musk, Berger also wrote. When writing about whether or not Optimus is a viable project and product for the company, he says that none of that matters. Musk thinks it is, and that’s all that matters.

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It seems like Musk has certainly mulled something this big for a very long time, and the idea of taking SpaceX public is not just likely; it is necessary for the company to get to Mars.

The details of when SpaceX will finally hit that public status are not known. Many of the reports that came out over the past few days indicate it would happen in 2026, so sooner rather than later.

But there are a lot of things on Musk’s plate early next year, especially with Cybercab production, the potential launch of Unsupervised Full Self-Driving, and the Roadster unveiling, all planned for Q1.

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SpaceX reportedly mulling IPO, eyeing largest of all time: report

“I do want to try to figure out some way for Tesla shareholders to participate in SpaceX. I’ve been giving a lot of thought to how to give people access to SpaceX stock,” Musk said.

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Credit: SpaceX

SpaceX is reportedly mulling an initial public offering, eyeing what would be the largest valuation at the time of availability of all time, a new report from Bloomberg said on Tuesday.

It is one of many reports involving one of Elon Musk’s companies and a massive market move, as this is not the first time we have seen reports of an IPO by SpaceX. Musk himself has also dispelled other reports in the past of a similar nature, including an xAI funding round.

SpaceX and Musk have yet to comment on the report. In the past, untrue reports were promptly replied to by the CEO; this has not yet gained any response, which is a good sign in terms of credibility.

However, he said just a few days ago that stories of this nature are inaccurate:

“There has been a lot of press claiming SpaceX is raising money at $800B, which is not accurate. SpaceX has been cash flow positive for many years and does periodic stock buybacks twice a year to provide liquidity for employees and investors. Valuation increments are a function of progress with Starship and Starlink and securing global direct-to-cell spectrum that greatly increases our addressable market. And one other thing that is arguably most significant by far.”

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Musk has discussed a potential IPO for SpaceX in recent months, as the November 6 shareholder meeting, as he commented on the “downsides” of having a public company, like litigation exposure, quarterly reporting pressures, and other inconveniences.

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Nevertheless, Musk has also said he wants there to be a way for Tesla shareholders to get in on the action. At the meeting in early November, he said:

“I do want to try to figure out some way for Tesla shareholders to participate in SpaceX. I’ve been giving a lot of thought to how to give people access to SpaceX stock.”

Additionally, he added:

“Maybe at some point., SpaceX should become a public company despite all the downsides of being public.”

Musk has been historically reluctant to take SpaceX public, at times stating it could become a barrier to colonizing Mars. That does not mean it will not happen.

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Bloomberg’s report cites multiple unidentified sources who are familiar with the matter. They indicate to the publication that SpaceX wants to go public in mid-to-late 2026, and it wants to raise $30 billion at a valuation of around $1.5 trillion.

This is not the first time SpaceX has discussed an IPO; we reported on it nine years ago. We hope it is true, as the community has spoken for a long time about having access to SpaceX stock. Legendary investor Ron Baron is one of the lucky few to be a SpaceX investor, and said it, along with Tesla, is a “lifetime investment.”

Tesla bull Ron Baron reveals $100M SpaceX investment, sees 3-5x return on TSLA

The primary driver of SpaceX’s value is Starlink, the company’s satellite internet service. Starlink contributes 60-70 percent of SpaceX’s revenue, meaning it is the primary value engine. Launch services, like Falcon 9 contracts, and the development of Starship, also play supporting roles.

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SpaceX reaches incredible milestone with Starlink program

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Credit: SpaceX

SpaceX reached an incredible milestone with its Starlink program with a launch last night, as the 3,000th satellite of the year was launched into low Earth orbit.

On Monday, SpaceX also achieved its 32nd flight with a single Falcon 9 rocket from NASA’s Kennedy Space Center.

The mission was Starlink 6-92, and it utilized the Falcon 9 B1067 for the 32nd time this year, the most-used Falcon booster. The flight delivered SpaceX’s 3000th Starlink satellite of the year, a massive achievement.

There were 29 Starlink satellites launched and deployed into LEO during this particular mission:

SpaceX has a current goal of certifying its Falcon boosters for 40 missions apiece, according to Spaceflight Now.

The flight was the 350th orbital launch from the nearby SLC-40, and the 3,000 satellites that have been successfully launched this year continue to contribute to the company’s goal of having 12,000 satellites contributing to global internet coverage.

There are over five million users of Starlink, the latest data shows.

Following the launch and stage separation, the Falcon 9 booster completed its mission with a perfect landing on the ‘Just Read the Instructions’ droneship.

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The mission was the 575th overall Falcon 9 launch, highlighting SpaceX’s operational tempo, which continues to be accelerated. The company averages two missions per week, and underscores CEO Elon Musk’s vision of a multi-planetary future, where reliable connectivity is crucial for remote work, education, and emergency response.

As Starlink expands and works toward that elusive and crucial 12,000 satellite goal, missions like 6-92 pave the way for innovations in telecommunications and enable more internet access to people across the globe.

With regulatory approvals in over 100 countries and millions of current subscribers, SpaceX continues to democratize space, proving that reusability is not just feasible, but it’s also revolutionary.

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