Key Points

SpaceX estimates its total addressable market could exceed $28.5 trillion.
CEO Elon Musk predicts the company may surpass $1 trillion in revenue by 2031.
The elevated valuation places significant pressure on future performance expectations.
10 stocks we like better than Space Exploration Technologies ›

The expansion prospects for Space Exploration Technologies (NASDAQ: SPCX), known as SpaceX, appear substantial. This potential explains why investors have pursued shares even with a market capitalization near $2 trillion. Although the firm reported nearly $19 billion in revenue for the prior year, expectations center on much larger top-line figures ahead.

CEO Elon Musk recently issued a striking forecast regarding the company's scale. Should this outlook hold, SpaceX shares could see further gains.

Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now, when you join Stock Advisor. See the stocks »

Image source: Getty Images.

Musk anticipates SpaceX revenue exceeding $1 trillion within five years

Musk frequently shares ambitious targets, yet his latest statement on SpaceX revenue stands out. In a recent social media update, he noted he would be surprised if revenue failed to exceed $1 trillion by 2031.

This goal implies roughly 5,300 percent top-line expansion, or about 94 percent compounded annually. Achieving it would require the company to double revenue each year through 2031. While demanding, SpaceX has assessed its total addressable market at more than $28.5 trillion and among the largest opportunities in history, lending context to the projection.

Amazon and Walmart currently lead global companies by revenue, with the former near $717 billion and the latter at $713 billion last year. Reaching $1 trillion would position SpaceX ahead of both.

SpaceX must still demonstrate results

Despite the growth outlook, recent performance has not matched the projected pace. Revenue increased 33 percent last year and 35 percent the year prior. Meeting Musk's timeline would require accelerated operational expansion.

Past forecasts from Musk have sometimes missed targets, so caution is warranted with new projections. While SpaceX holds multiple growth avenues across its businesses, investors should avoid assuming the company will reach the forecasted size soon. The high valuation already sets elevated expectations, and falling short could pressure the stock. For now, a cautious stance seems prudent given potential downside risk.

Should you buy stock in Space Exploration Technologies right now?

Before you buy stock in Space Exploration Technologies, consider this:

The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Space Exploration Technologies wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.

Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $393,037!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,280,627!*

Now, it’s worth noting Stock Advisor’s total average return is 913% — a market-crushing outperformance compared to 208% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.

See the 10 stocks »

*Stock Advisor returns as of June 23, 2026.

David Jagielski, CPA has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amazon and Walmart. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.