Elon Musk says Goldman Sachs’ $1.8 trillion estimate for the global space economy by 2035 is too conservative, arguing reusable rockets, satellite networks and orbital computing could create a far larger market.
Goldman Sees A $1.8 Trillion Market
"It will be much bigger," Musk wrote on X Tuesday, responding to a post highlighting Goldman Sachs’ new "Second Space Age" report. Goldman says space is becoming "a new pillar of the industrial economy" as lower launch costs, private capital and commercial infrastructure reshape an industry once dominated by governments.
The report cites a global space economy reaching $1.8 trillion by 2035 and says more than $55 billion flowed into the space ecosystem in 2025. Goldman notes launch costs have fallen from roughly $55,000 per kilogram during the Space Shuttle era to around $3,000 today, largely because of rocket reusability.
SpaceX Expands Starlink And Orbital AI
Space Exploration Technologies Corp. (NASDAQ:SPCX) is already pushing several markets that could stretch those forecasts. Its second-quarter revenue nearly doubled to $7.8 billion, while Starlink revenue rose 66% and subscribers doubled to 12 million. The company expects to launch at least 1,000 next-generation Starlink V3 satellites within a year.
Musk is also betting on orbital AI infrastructure. SpaceX has sought approval for up to one million solar-powered data-center satellites, while executives aim to begin orbital AI computing demonstrations by late 2027. Musk has argued much of the required technology already exists in Starlink.
Starship Could Unlock Much Bigger Markets
That ambition rests heavily on Starship. SpaceX says rapid, full reusability could lower launch costs and support much higher flight rates. Musk has also tied Starship to lunar logistics, Mars settlement and eventual point-to-point transportation on Earth. Recent coverage noted SpaceX is considering additional "spaceports" as it targets thousands of Starship flights each year.
SpaceX’s first public quarterly report showed $7.81 billion in revenue, a $47.5 billion backlog and 78 launches year-to-date, while Starlink operates across 167 countries.
Goldman frames the opportunity broadly, spanning communications, defense, Earth observation, launch and orbital infrastructure. Musk’s view is that those categories may describe only the opening phase. If orbital AI, mass satellite connectivity and reusable interplanetary transport become commercial realities, the market could extend well beyond that $1.8 trillion benchmark.
According to Benzinga Edge Rankings, SpaceX stock provides a favorable price trend in the Short, Medium and Long term.
Price Action: SpaceX Shares were down 0.73% to $142.29 during overnight trading on Tuesday.
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