SpaceX Aims for $1T by 2030 — Wall Street Bankers Say Hold My Rocket Fuel 🚀

Elon Musk said SpaceX could reach roughly $1 trillion in annual revenue by 2030 and likely more in 2031, a projection that far outpaces the forecasts of the banks that underwrote the company's recent record-breaking IPO. Musk made the claim on X over the weekend, days after SpaceX completed the largest stock market debut in history, with the session pushing its valuation past $2 trillion.

The math behind the target is steep. SpaceX reported $18.7 billion in revenue for 2025, up from $14 billion in 2024 and roughly $10 billion in 2023, according to its IPO filing. Hitting $1 trillion by 2030 would require a 53-fold increase in five years, a pace no company of comparable size has ever achieved. "I think SpaceX might be able to reach approximately $1T revenue in 2030," Musk posted on X. "And I would be surprised if revenue is not greater than $1T in 2031," he added.

Wall Street's own projections sit well below Musk's. Morgan Stanley, a lead underwriter, estimates SpaceX revenue near $330 billion in 2030, with $160 billion as early as 2028 and a 2040 figure of $3.4 trillion. Goldman Sachs also falls short of Musk's number, with both banks assuming years of flawless execution to hit their marks.

Both forecasts rest heavily on artificial intelligence infrastructure rather than rockets. Morgan Stanley expects AI to contribute roughly $190 billion of its 2030 total, though that unit generated just $3.2 billion in 2025 while losing $6.4 billion. Starlink remains the main revenue driver, bringing in $11.4 billion last year with 10.3 million subscribers by March 2026, up from 8.9 million a year earlier. SpaceX still posted a steep quarterly loss in early 2026, and Musk retains 82.4% of voting power following the debut.