Elon Musk says SpaceX revenue could reach roughly $1 trillion a year by 2030, and likely more in 2031. That projection sits far above the forecasts of the bankers who just took his company public.
Musk made the claim on X (Twitter) over the weekend, days after SpaceX completed the largest stock market debut in history. His own underwriters model only a fraction of that number.
SpaceX Revenue Math Faces a Steep Climb
SpaceX reported $18.7 billion in revenue for 2025, according to its IPO filing. Revenue climbed from $14 billion in 2024, growth of about 33%.
Revenue stood near $10 billion in 2023, so the trajectory is steep but not vertical.
Even so, hitting $1 trillion by 2030 would demand a 53-fold jump in five years. No company near this size has ever grown that fast.
Musk framed the goal directly on the platform he owns.
I think SpaceX might be able to reach approximately $1T revenue in 2030,” he said in a post.
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He added that he would be surprised if revenue fell below $1 trillion in 2031.
Wall Street Forecasts Sit Far Below
Morgan Stanley, a lead underwriter, estimates SpaceX revenue near $330 billion in 2030. The bank models $160 billion as early as 2028.
Goldman Sachs leans harder on artificial intelligence yet still lands well short of Musk. Both banks assume years of flawless execution.
The optimism arrived alongside the company’s historic IPO debut, which pushed its valuation past $2 trillion. That session produced a string of surprising IPO facts, including Musk keeping 82.4% of voting power.
The AI Bet Carries the Forecast
Both forecasts rest on AI infrastructure rather than rockets. Morgan Stanley sees AI delivering roughly $190 billion of its 2030 total.
However, that unit earned just $3.2 billion in 2025 while losing $6.4 billion. It would need to outgrow the world’s leading AI labs to deliver.
For now, the Starlink satellite network carries the business, generating $11.4 billion last year. Subscribers reached 10.3 million by March 2026, up from 8.9 million a year earlier.
Meanwhile, SpaceX still posted a steep quarterly loss in early 2026.
Musk has repeatedly missed his own timelines while eventually delivering results.
Investors weighing the space stocks in play must now decide which pattern holds.