Falcon and Dragon launch services
Main launch business for government and commercial customers, including NASA crew missions. Reported under the Space segment.
The numbers
Space segment revenue$4.0 billionFY2025 · source ↗
What it is
Falcon 9 and Falcon Heavy rockets launch satellites for commercial and government customers. Dragon carries crew and cargo to the International Space Station under NASA contracts.
Why it matters to the stock. Launch is the company's proven business and the source of recurring NASA and Space Force revenue. The Space segment's $4 billion in 2025 revenue is mostly this business, and its margins are the baseline for judging Starship.
News
NASA Crew-12 mission set to launch four astronauts to the ISS on SpaceX Dragon
NASA scheduled its SpaceX Crew-12 mission to carry four astronauts to the International Space Station, with liftoff set for February 13, 2026 at 5:15 a.m.
Project