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.↗ source
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