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SpaceX ‘sleeves’ Starship-derived propellant tank for the first time – here’s why
In a small but important step towards activating a pad capable of launching the largest and most powerful rocket ever built, SpaceX has ‘sleeved’ one of its Starship-derived propellant storage tanks for the first time.
Starship is a fully-reusable, two-stage liquid rocket designed to ultimately cut the cost of orbital launch by at least one magnitude, opening the door for humanity’s sustainable expansion to Earth orbit, the Moon, Mars, and even beyond. To accomplish that lofty feat, it has to be a massive rocket. Measuring approximately 120m (~395 ft) tall and 9m (~30 ft) wide, Starship and Super Heavy will weigh on the order of 300 metric tons (~675,000 lb) when empty.
Once filled to the brim with cryogenic liquid methane (CH4) and liquid oxygen (LOx) propellant and gas, though, a two-stage Starship will easily weigh more than 5000 tons (11 million lb) shortly before and after liftoff. Further, SpaceX wants to be able to launch at least two Starships from Boca Chica in rapid succession. To meet the staggering needs of back-to-back Starship launches, SpaceX has thus had to design and build what will be the world’s largest launch pad tank farm.
Work on that tank farm is already well underway, though progress has been slower than expected. The site’s foundation and a few associated blockhouses were mostly completed by January 2021. By early April, the company had completed the first of at least seven steel propellant storage tanks at its Starship factory and rolled it to the launch pad for installation.
Notably, SpaceX chose to manufacture those storage tanks itself and ended up building structures virtually identical to the tanks that already make up most of flightworthy Starship and Super Heavy airframes. Depending on whether they’re meant to store liquid oxygen or methane, the seven tanks SpaceX is building are either 26 or 30 meters (85 or 100 feet) tall – though the concrete mounts they’re affixed to at the launch site are sized such that all storage tanks will have the same final height.
Of course, being made with the same tools and out of the same steel as Starship and Super Heavy, that means that SpaceX’s custom storage tanks are little more than 4mm (~1/6″) thick steel shells – about as bad as it gets for keeping cryogenic rocket fuel… cryogenic. If SpaceX were to simply use those unmodified tanks, it would be almost impossible to store Starship fuel for more than a few hours – and maybe just a few minutes – without it warming up past the point of usability.
As such, SpaceX’s final Starship tank farm design involves seven Starship-derived storage tanks and seven contractor-built tank sleeves. Measuring around 12m (~40 ft) wide and 40m (~130 ft) tall, those “cryo shells” will enclose all seven SpaceX-built tanks, allowing the company to fill the 1.5m (~5 ft) gap between them with an insulating solid, gas, or some combination of both. With those shells and insulation, SpaceX’s custom-built Starship tank form should be more than capable of storing cryogenic liquid oxygen and methane for days or even weeks.
As of August 5th, SpaceX has installed three of Starship’s custom ground supply equipment (GSE) tanks (with a fourth moved onsite on Thursday), moved two ‘cryo shells’ to temporary storage spots at the pad, and installed one cryo shell that actually turned out to be a million-gallon water tank. On Thursday, SpaceX ‘sleeved’ one of those storage tanks for the first time ever, marking an important milestone towards the activation of a tank farm capable of supporting Starship’s orbital launch debut. Another four sleeves are more or less complete, with the eighth and final sleeve likely just a week or two away from completion.
A fifth GSE tank is also more or less complete, leaving two more to go. However, with some basic math, it’s possible to determine that SpaceX’s orbital launch pad likely only needs five cryogenic tanks (three oxygen, two methane) – and possibly as few as four – to support Starship’s first orbital test flight(s). With SpaceX finally beginning to install tank sleeves, it’s possible that that four or five-tank milestone – and the first tests of SpaceX’s custom, unproven storage solution – are now much closer at hand.
SpaceX confirmed the date of Starship’s 15th launch window with some massive ambitions for the mission, as it will attempt to catch Ship for the first time.
CEO Elon Musk confirmed during SpaceX’s Earnings Call last night on October 20 that it would launch Starship for its 15th test flight in November, and there are some incredible things the company wants to try, making it perhaps the most groundbreaking launch in the program’s history.
SpaceX delivers blockbuster Q3 results as Super Intelligence segment booms
The most major development of the call was SpaceX’s intention to catch Ship alongside catching the Super Heavy Booster, something that has happened in the past. SpaceX showed an animation of the Ship catch, which will be done on the launch tower’s chopsticks:
SpaceX has released a new Starship tower catch animation for the upcoming Flight 15! https://t.co/kStn01Da8u
— Truthful🛰️ (@Truthful_ast) October 20, 2026
This monumental goal is to catch both the Ship and Booster in a dual-catch scenario, an incredible feat since SpaceX has never been able to reuse a Ship after launch. Musk said it would be “the first time that an orbital launch vehicle has been fully recovered,” and said it would be a “profound technology milestone.”
Musk said the odds of success on this first Ship catch attempt are “more likely than not,” but SpaceX is ultimately prepared for more tries moving forward. The SpaceX frontman said that, starting next year, Starship would have a “steady stream” of flights through the end of the year.
The cadence will accelerate in 2027, with Musk stating the company plans to target weekly flights in the first half of 2027 and twice-weekly by year-end.
The Flight 15 attempt follows that of Flight 14, which took off in late September and was Starship’s first orbital mission. It deployed 26 Starlink V3 satellites, accomplished a controlled ocean splashdown of both stages, and shed more light on potential challenges for the program moving forward.
As of now, the Starship program is firing on all cylinders.
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Wall Street analysts rapidly raised price targets on SpaceX (NASDAQ: SPCX) after the company reported a bullish third quarter for 2026 following the market close on October 20. Shares were sent sharply higher in after-hours and premarket trading.
SpaceX posted revenue of $14.6 billion, a 161 percent year-over-year increase that comfortably topped consensus estimates, which fell near $12.7 billion. The company also posted a net profit of $4.4 billion from a prior-year loss, with adjusted EBITDA reaching $8.8 billion.
More price target movement:
🚀 Cantor Fitzgerald lifted its target to $345 from $246 (Overweight).
🚀 Barclays raised its target to $300 from $254 (Overweight).
🚀 Citi increased its target to $240 from $200 (Buy),
🚀 UBS moved to $230 from $210 (Buy)
🚀TD Cowen raised its target to $224 from $200 (Buy).
🚀Morgan Stanley held an Overweight rating with a $300 target.
🚀Other firms also adjusted higher, including Wells Fargo (to $274 from $214) and Clear Street (to $248 from $217). Analysts broadly cited the strong quarterly print, accelerating AI compute expansion, Starlink progress, and Starship milestones as drivers of higher long-term growth and earnings power.— TESLARATI (@Teslarati) October 21, 2026
Its Super Intelligence (AI) division generated roughly $7.6 billion and became the largest revenue contributor, growing nearly 830 percent year-over-year, while the Connectivity segment delivered $5.2 billion on strong subscriber additions that lifted the consumer base to 13.6 million for Starlink.
The Earnings Call proved especially catalytic, as CEO Elon Musk and CFO Bret Johnsen outlined Q1 2027 revenue guidance of $33 billion to $37 billion, which was far above the roughly $22 billion analysts had modeled, alongside fourth-quarter capital-expenditure plans of $35 billion to $40 billion focused on AI compute infrastructure at sites including Memphis and Southaven.
SpaceX delivers blockbuster Q3 results as Super Intelligence segment booms
Management targets 2.5 to 3 gigawatts of nameplate compute capacity by year-end and discussed pathways to 13 gigawatts or more by the end of 2027. Musk described relentless demand from hyperscalers and other customers, with compute pricing supporting payback periods of less than a year and potentially as short as six months.
Additional highlights included Starship’s recent orbital success and V3 satellite deployment, Starlink pricing and enterprise momentum, rapid Grok Bot adoption, spectrum expansion plans, and the formation of special committees to explore a possible combination with Tesla.
These elements prompted a wave of price-target increases:
- JPMorgan more than doubled its target to $500 from $240 while maintaining an Overweight rating.
- Cantor Fitzgerald lifted its target to $345 from $246 (Overweight).
- Barclays raised its target to $300 from $254 (Overweight).
- Citi increased its target to $240 from $200 (Buy),
- UBS moved to $230 from $210 (Buy), and
- TD Cowen raised its target to $224 from $200 (Buy).
- Morgan Stanley held an Overweight rating with a $300 target.
- Other firms also adjusted higher, including Wells Fargo (to $274 from $214) and Clear Street (to $248 from $217). Analysts broadly cited the strong quarterly print, accelerating AI compute expansion, Starlink progress, and Starship milestones as drivers of higher long-term growth and earnings power.
Shares, which closed at $147.79 on October 20, jumped roughly 8 percent in early premarket trading on October 21 as investors digested the results and the newly elevated Street targets.
The average analyst price target has moved higher, which reflects greater conviction in SpaceX’s trajectory across launch, connectivity, and the Super Intelligence business, even as elevated spending remains a point of focus.
Elon Musk
SpaceX showcases exactly how it plans to catch Starship next month
SpaceX played a new Starship Flight 15 simulation showing the ship caught by tower chopsticks.
SpaceX gave its clearest look yet at how it plans to catch a Starship upper stage, playing a roughly 80 second animation of the maneuver during its third quarter earnings webcast on Tuesday. The clip ran under an “Up Next: Ship Catch” banner moments after Elon Musk confirmed that Flight 15, expected next month, will try to catch both the Super Heavy booster and the ship with the launch tower.
The animation opens at ground level, looking up through the launch mount at a tower with its chopstick arms spread wide. It then cuts to the ship gliding back through the atmosphere in its horizontal belly flop position, with its forward and aft flaps steering the descent. A wide shot from the Starbase shoreline follows, where the ship is a small dot in the sky before it swings vertical and drops toward the launch towers. The final shots show the ship sliding down past the top of the tower, a close view of the hardware along its side meeting the arms, and the vehicle hanging in the chopsticks.
SpaceX has released a new Starship tower catch animation for the upcoming Flight 15! https://t.co/kStn01Da8u — Truthful🛰️ (@Truthful_ast) October 20, 2026
Musk called the catch the step that closes Starship’s reuse loop. “If we succeed, it will be the first time that an orbital launch vehicle has been fully recovered,” he said. He put the odds of success on the first attempt at “more likely than not,” and said SpaceX has “a steady stream of Starship flight attempts through the end of this year” if Flight 15 falls short.
The sequence mirrors work SpaceX has already done with real hardware. In September, Ship 42, the vehicle assigned to Flight 15, was lifted by the Pad 2 chopsticks into a simulated catch position, where crews cycled the arms and connected the ship quick disconnect arm while it hung from the tower. NASASpaceflight has since reported that SpaceX removed Ship 42’s engines before its static fire and sent it back for another cryogenic test.
Gwynne Shotwell covered the regulatory side on the same call. After what she called “significant constructive engagement with the FAA,” SpaceX expects the Flight 15 license “to include return to launch site and tower catch for both stages.” Bringing the ship home means reentering toward land instead of the open ocean, which Musk said in February would only happen once the chance of the ship breaking up over land was very low, after two perfect soft landings at sea.
SpaceX has caught Super Heavy with the tower three times, on Flights 5, 7 and 8, but the ship returns from orbit at far higher speed and has never been caught. Flight 14 on September 28 was the first Starship to reach orbit, and it deployed 26 Starlink V3 satellites before splashing down, a mission SpaceX counted as its first revenue flight in the Q3 results it reported Tuesday.
The timing lines up with what Musk told the crowd at Giga Texas earlier this month, when he said Flight 15 would probably launch a little before Thanksgiving and that Flight 16 could refly both stages. On Tuesday’s call he went further, saying Starship should fly weekly at some point in the first half of 2027 and twice weekly or more by the end of next year as SpaceX works toward landing a rocket and launching it again with no refurbishment.
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