SpaceX is projected to earn $15 billion in sales in 2024. Starlink is expected to significantly contribute to the company’s sales next year.
Elon Musk’s aerospace company is currently on track to report a revenue of $9 billion this year through rocket launches and its Starlink internet service. If the projections are accurate, SpaceX will increase sales by 60% next year.
According to Bloomberg sources, Starlink is expected to outpace SpaceX’s launch business next year. SpaceX’s low-earth orbit internet business is currently expanding across the globe. Starlink is expected to become available in even more regions worldwide next year. People familiar with the matter stated that with Starlink’s continued expansion, it will eventually represent the majority of SpaceX’s revenue.
In 2022, Starlink made $1.4 billion in revenue, up from $222 million in 2021. Given those numbers, Starlink was able to increase its revenue by 500% in a year. However, Starlink hasn’t reached SpaceX’s initial goals just yet. In a 2015 presentation, SpaceX estimated that Starlink satellite internet services would generate $12 billion in revenue and $7 billion in operating profit by 2022.
Earlier this month, SpaceX CEO Elon Musk announced that Starlink achieved breakeven cash flow.
“Starlink is also now a majority of all active satellites and will have launched a majority of all satellites cumulatively from Earth by next year,” Musk stated.
Considering Musk’s recent remarks about Starlink and its projected sales for next year, 2024 may be a big year for SpaceX’s internet service.