Latest news with #commercialspace
CNA
7 hours ago
- Business
- CNA
Elon Musk projects SpaceX revenue of about $15.5 billion in 2025
Elon Musk's SpaceX will record revenue of about $15.5 billion this year, the billionaire said on Tuesday, underscoring the rocket maker's growing dominance in the commercial space sector. The company's commercial revenue from space will exceed NASA's budget of roughly $1.1 billion next year, Musk said in a post on X. While NASA continues to fund deep space exploration and research missions, SpaceX has leaned on growing demand for cost-effective launch services and satellite communications to generate revenue. The company is developing a 400-foot (122-meter) tall Starship rocket system, which the world's richest person has said will play a crucial part in sending humans to Mars. The company's reusable Falcon 9 and Falcon Heavy rockets have significantly reduced launch costs, enabling SpaceX to secure a substantial share of the global launch market. In 2024, SpaceX achieved a record-breaking year with 134 Falcon launches, making it the most active launch operator globally. SpaceX is targeting to beat that record with 170 launches by the end of the year, the company said last week, as it attempts to meet growing demand for satellite deployment. Still, SpaceX's revenue is driven largely by its satellite internet service, Starlink, which Musk has said will go public, but has not provided a timeline. In early November 2023, Musk reported that Starlink had achieved breakeven cashflow. Under the Starlink banner, SpaceX has deployed thousands of satellites to deliver broadband internet globally. SpaceX and two partners have emerged as frontrunners to win a crucial part of U.S. President Donald Trump's "Golden Dome" missile defense shield, Reuters reported in April, citing six people familiar with the matter.
CNA
8 hours ago
- Business
- CNA
SpaceX will record revenue of about $15.5 billion in 2025, Elon Musk says
04 Jun 2025 01:27AM (Updated: 04 Jun 2025 01:31AM) Elon Musk's SpaceX will record revenue of about $15.5 billion this year, the billionaire said on Tuesday, underscoring the rocket maker's growing dominance in the commercial space sector. The company's commercial revenue from space will exceed NASA's budget of roughly $1.1 billion next year, Musk said in a post on X. SpaceX's success is driven largely by its satellite internet service, Starlink, which Musk has said will go public, but has not provided a timeline. In early November 2023, Musk reported that Starlink had achieved breakeven cashflow. Under the Starlink banner, SpaceX has deployed thousands of satellites to deliver broadband internet globally.
Reuters
8 hours ago
- Business
- Reuters
SpaceX will record revenue of about $15.5 billion in 2025, Elon Musk says
June 3 (Reuters) - Elon Musk's SpaceX will record revenue of about $15.5 billion this year, the billionaire said on Tuesday, underscoring the rocket maker's growing dominance in the commercial space sector. The company's commercial revenue from space will exceed NASA's budget of roughly $1.1 billion next year, Musk said in a post on X. SpaceX's success is driven largely by its satellite internet service, Starlink, which Musk has said will go public, but has not provided a timeline. In early November 2023, Musk reported that Starlink had achieved breakeven cashflow. Under the Starlink banner, SpaceX has deployed thousands of satellites to deliver broadband internet globally.
Independent Singapore
11 hours ago
- Business
- Independent Singapore
Bidding wars at the void deck: Are we pricing out the heart of our heartlands?
SINGAPORE: The void deck, once the cornerstone of neighbourhood life, is fast becoming a site of fierce corporate competition. A recent round of public rental tender results has brought attention to an emerging trend: rising rental bids for commercial spaces in heartland areas, and the growing disconnect between what the community needs and who can afford to serve it. In Telok Blangah, Normanton Healthcare Pte. Ltd. secured a unit at Block 88A for S$16,800 a month. In Tengah Garden Walk, a clinic space was snapped up for an eye-watering S$40,088 monthly — a bid that outpaced established players like HMI Onecare, Normanton itself, and Qualitas Healthcare. Over in Tampines, Lum Sian Wei Shaun, a medical practitioner, put in the highest winning offer yet: S$52,188 for a single unit. These are not isolated cases. At Woodlands Street 82 and Circuit Road, successful bids ranged from S$4,200 to S$5,000 — a relatively modest but still competitive range. Some sites saw up to a dozen bids. The pattern is clear: demand for heartland space is rising sharply, and with it, the price to participate. Medicine, meals, and margin pressures Medical providers made a strong showing among successful bidders. Companies like Caring Medical Clinic Pte. Ltd., Kindred Medical Holdings, and My Family Clinic (TH) Pte. Ltd. featured prominently, with Caring securing two units — one in Tampines at S$25,388 and another at Champions Way for S$25,900. Retail and vending businesses weren't far behind. Juicy Fresh Pte. Ltd. won three Sengkang locations at S$1,560 per month, while other bids for smaller kiosks ranged between S$120 and S$2,000, depending on size and zoning. While the tender process has always been competitive, the scale and consistency of high-value bids suggest a deeper shift, one that residents in the form of price increases could soon feel. A general practitioner renting a unit at S$40,000 per month has few options but to revise consultation fees, especially when labour and equipment costs are also climbing. The same logic applies to retail and F&B outlets: groceries, beverages, and essentials may become incrementally more expensive as businesses seek to recover their margins. The cost of entry — and who gets left behind However, the most worrying outcome may be what doesn't get built. High rental thresholds are increasingly squeezing out sole proprietors, social enterprises, and community-minded cooperatives. Anecdotally, smaller bidders often enter the tender process knowing they will likely lose out, not because their concepts are poor, but because the cost of securing a foothold is too high. A potential long-term consequence? A slow and quiet shift in the character of heartland commerce — from vibrant, eclectic neighbourhood spaces to chain-dominated clusters. The kind where the tenant could just as easily be in a mall. Balancing books and the social contract The Ministry of National Development maintains that tender awards are not determined by rent alone. Bids are assessed on multiple criteria, including business concept, relevance to community needs, track record, and operational sustainability. Rental amount is just one piece of the puzzle. In theory, this hybrid model is designed to balance financial prudence with social value; however, critics argue that in practice, it favours applicants with more resources and experience who tick the most boxes. High rental bids still tend to align with final awards, particularly in tenders involving clinical or retail giants. While there's no formal preference for large companies, the competitive nature of the process often crowds out smaller players who might bring new ideas, local knowledge, or a deeper connection to the community, but not the capital. As public interest in this issue grows, questions are being raised about whether policy tweaks are needed to preserve accessibility in heartland commercial spaces. Can financial viability coexist with social diversity? Or will economic logic — unchecked — homogenise the void deck economy? The crossroads ahead Singapore's heartlands have never just been about proximity. They're about personality. The vendors who anchor a neighbourhood, who adapt to residents, and who reflect the rhythms of daily life. However, as rents climb and bids become a battleground for corporates, the heartlands risk becoming more like any high-rent district. Whether future policy will restore space for community-led commerce or continue to support current trends remains to be seen. For now, the ground beneath our feet may still be familiar, but the shops we walk past are changing.
Entrepreneur
6 days ago
- Business
- Entrepreneur
Even Without Orbit, Spectrum Signals a Lift-Off Moment for Europe's Space Startups
Each launch attempt, support for new startups, and student inspiration edges Europe closer to building a space ecosystem that's not only competitive but uniquely its own. Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur Europe, an international franchise of Entrepreneur Media. With so much focus on how AI is propelling us into the future, other areas of innovation have been overlooked. The scientific breakthroughs currently unfolding within the space industry are just as—if not more—transformative than AI. This suggests that the next great leap isn't just digital; it's interstellar. While the United States and China often grab the spotlight in this industry, Europe has recently taken monumental steps forward, servicing this fast-growing market with space-based data and software solutions. Meanwhile, startups and researchers are fueling a sector that goes beyond traditional aerospace as we know it, advancing progress in regular launches and addressing unique space-based challenges such as orbital debris. This is thanks in part to a range of European government-backed research, funding, and regulations focused on developing homegrown knowledge and capabilities, securing long-term growth and influence in the future of commercial space technology. Europe's first step toward a bigger role in commercial spaceflight Last month, Europe made history by launching its first orbital rocket from European soil—the Spectrum. While the German-developed rocket from Isar Aerospace exploded less than a minute after takeoff, it set the tone for what's to come: More European startups looking to build the continent's infrastructure in space. Looking ahead this is expected to include satellites that support everything from communications to defence, agriculture, and more. The U.S. has dominated commercial rocket launching for almost two decades. In 2024, 55% of orbital launch attempts were made by the U.S. Out of the 145 of those space launches, Elon Musk's SpaceX was responsible for an overwhelming 95% of the country's total missions. Europe accounted for less than 2%. The European Space Agency is looking to change that through various projects, like its Boost program. "ESA is boosting commercial initiatives that offer transportation services to space, in space, and returning from space," the agency's website reads. Last year, the ESA awarded €44.22 million in co-funding, backing four startups as part of its push to elevate Europe's commercial launch capabilities. The support helped pave the way for the recent Spectrum launch attempt. ESA-backed Rocket Factory Augsburg and Orbex are also preparing for their own missions in the near future. Josef Aschbacher, head of the European Space Agency, voiced his support on X following the launch from Andøya Spaceport in the Arctic—one of just two designated sites in Europe set to host more launches. Aschbacher noted the importance of getting off the ground and the valuable data collected during the brief flight. "I'm confident Isar Aerospace will take a lot away from this. Rocket launches are never easy. The key is to keep pushing forward with even greater determination," he wrote. Before building up, Europe's looking out—for debris The ESA is also focused on supporting startups that address pressing issues like space pollution. If Europe wants to build infrastructure through commercial rockets, it needs to ensure there's space—literally, because it's filling up fast. With more than 2,500 satellites launched in 2023 alone, experts believe we're on track to have more than 100,000 in orbit within the next decade. Right now, there are over 36,000 pieces of space debris large enough to destroy a satellite. One startup working to address this is SpaceFlux, a UK-based company building a global, independent network for real-time tracking and early warnings. Their open-data model is aimed at improving space safety for everyone. In less than two years, SpaceFlux has developed one of the most advanced space situational awareness systems in the world. Using ground-based optical sensors and proprietary tracking technology, they monitor both satellites and debris. Their efforts have already earned them contracts with the UK Space Agency and the ESA as they help tackle the growing problem of orbital congestion. "Europe is well known for its contributions to space activities, particularly around research and exploration. It is therefore little surprise that the continent's commercially-focused space ecosystem is thriving, too", says Dr. Marco Rocchetto, Founder and CEO of SpaceFlux, highlighting how valuable support from the private and public sectors has enabled innovation and startups to thrive in the region. "Plus, an established supply chain that provides the components and subsystems needed, as well as access to the talent necessary for a young company to commercialise and grow strategically." Satellites don't just beam back images of our planet—they tell a story that helps shape how nations respond to conflict, manage threats, and make real-time decisions. In today's shifting geopolitical and environmental climate, access to independent space data is a matter of security, diplomacy, and safety, especially when national and regional interests are at stake. The push to grow space talent Playing the long-game, Europe is also focusing heavily on its youth to secure its future in the aerospace industry. The continent requires a skilled workforce to design, launch, and manage space technologies which starts with fostering ambition, talent, and homegrown career opportunities. However, interest in STEM education is trending downward across the continent, meaning this could be the most crucial investment of all. In Germany, STEM enrollment fell by roughly 3% between 2022 and the 2023/2024 academic year. Spain is facing a similar challenge. The proportion of graduates in STEM fields has dropped by more than six percentage points within the last decade, with slightly fewer than 19% of university graduates in 2022 earning degrees in science or technical subjects. In hopes of combating this trend, the European Space Education Resource Office (ESERO), launched by the ESA, is focused on promoting STEM education related to space across the continent. The initiative uses space science as a tool to spark curiosity and improve engagement in physics, math, and technology among students of all ages, while also giving educators the resources they need to do so. The goal is simple: use the wonder of space to ignite curiosity and build confidence in core STEM subjects. There are also startups with the same mission, like AmbaSat, an English startup that creates build-it-yourself satellite kits and learning programs that help students understand how space tech works by actually putting it in their hands. From classroom projects to real satellite launches, AmbaSat is making access to space more affordable and more personal, helping to open doors for students who might not otherwise see a place for themselves in science or engineering. By highlighting the breakthroughs happening in this field and showing that careers in space are within reach—not just for scientists, but across a range of roles—Europe is helping the next generation believe in their place within it. Each European launch attempt, support for new startups, and student inspiration edges the continent closer to building a space ecosystem that's not only competitive but uniquely its own. Relying less on the resources and assistance of other countries as we move to a future where space doesn't feel so far away.
