Elon Musk's SpaceX will record revenue of about $15.5 billion this year, the billionaire said 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.