Elon Musk aims to launch around one rocket per hour into space within five years, according to the US Federal Aviation Administration.
The agency announced this ambitious schedule after meeting with SpaceX President Gwynne Shotwell, who told FAA Administrator Bryan Bedford on Wednesday that Musk’s company plans to boost its annual launches from 170 in 2025 to 10,000 by 2031.
The FAA noted that SpaceX must demonstrate improved reliability to secure licenses for such a high launch rate, Reuters reported. SpaceX currently holds the record for the most rocket launches in a year, having launched 165 spacecraft last year and five suborbital Starship missions.
This number exceeded China’s orbital missions in 2025 and accounted for about 85% of US rocket launches. The launch target was revealed as SpaceX prepares for what could be the largest IPO in history.
The company filed its IPO documents on Wednesday, valuing SpaceX at $1.25 trillion. The filing outlined plans to expand its dominance in space, with Musk already controlling over two-thirds of active satellites.
Future projects include in-orbit data centers, factories on the Moon and Mars, space tourism, and asteroid mining.
The IPO statement said, “We believe space represents the largest economic frontier in human history,” adding, “We currently stand alone in our ability to deliver revolutionary breakthroughs across spaceflight, exploration, global connectivity, and artificial intelligence, enabling an age of abundance that could drive unprecedented economic growth.”
The success of the IPO may depend on the upcoming Starship test, scheduled as its first orbital flight in 2026.
This will be the first test of Starship Version 3, an upgraded rocket designed to carry crew and cargo for NASA’s Artemis IV mission to the Moon in 2028.