5 shocking facts about Elon Musk-owned SpaceX

SpaceX, one of the tech ventures owned by the tech billionaire Elon Musk, has rapidly transformed from a scrappy startup into one of the most influential companies in modern space exploration.

Founded in 2002 and headquartered at its Starbase development site in Texas, SpaceX has changed the rules of the space industry, with its groundbreaking innovations.

While most people recognise the company for its spectacular rocket launches, there’s a lot more to SpaceX that many might not be aware of.

Here are five shocking, lesser-known facts about the aerospace company that might surprise even the most avid space enthusiasts.

SpaceX went bankrupt in 2008

SpaceX's journey could have ended in only six years after it began. In 2008, the company faced a near-collapse following three failed attempts to launch its first rocket, the Falcon 1.

The consecutive setbacks drained the company’s finances, and Musk himself was nearly out of cash, balancing tight funds between SpaceX and Tesla.

However, on September 28, 2008, SpaceX successfully launched Falcon 1 on its fourth attempt, making it the first privately developed liquid-fueled rocket to reach Earth orbit.

Later, NASA awarded SpaceX a $1.6 billion contract under the Commercial Resupply Services program, an absolute lifeline that saved the company from financial crisis.

SpaceX has been building rockets for over two decades

SpaceX has been building rockets for over 20 years to reduce space transportation costs. The company has grown into a dominant player in the global space market.

With over 250 launches, SpaceX’s output rivals or exceeds that of many national space programmes. Its rapid ascent has not only redefined the role of private enterprise in space but has also pushed traditional players like NASA and Boeing to rethink their strategies.

SpaceX manufactures everything in-house

While traditional aerospace companies heavily rely on third-party suppliers, SpaceX follows a vertical integration model, producing around 70% of its hardware internally.

From engines to avionics, most components are designed and built under the same roof.

This approach offers multiple advantages, including tighter quality control, faster design iteration, reduced costs, and the ability to adapt rapidly to new technological requirements.

Falcon 9 is the most frequently launched commercial rocket in history

SpaceX’s Falcon 9 rocket is one of the greatest achievements. Introduced in 2010, it has become the backbone of the company’s launch operations.

By 2024, Falcon 9 had completed over 226 launches, boasting an extraordinary success rate with only two failed missions.

What sets Falcon 9 apart is its reusability. It’s the world’s first orbital-class reusable rocket, significantly lowering the cost of space access.

Starship is being built to take humans to Mars

SpaceX’s most ambitious project to date is Starship, a fully reusable super-heavy-lift launch vehicle that Musk hopes will one day transport humans to Mars.

For those unversed, Starship is an entire system consisting of the Super Heavy booster and the Starship spacecraft, both designed for reuse. 

Once operational, it will be the tallest and most powerful rocket ever constructed, standing at 394 feet with the capacity to carry over 100 metric tonnes to Earth orbit.