SpaceX president states that competition is welcome as Starlink approaches 5 million customers.

• Elon Musk's SpaceX president and COO encouraged competitors in the rocket and satellite industries, stating that competition is beneficial for the company's growth.
• Gwynne Shotwell stated at the Baron Investment Conference in NYC that it would be challenging to catch us, but she hoped people would attempt to do so.
• This year, SpaceX's Falcon rockets have surpassed 100 launches, and its Starlink satellite internet network has reached nearly 5 million customers.

On Friday, SpaceX's second-in-command expressed his view that competition is beneficial for Elon Musk's space company, urging rivals in his comments.

Gwynne Shotwell, SpaceX President and COO, stated at the 2024 Baron Investment Conference in New York that competition is beneficial for industries as it keeps us focused and tight.

Shotwell stated, "Although it will be challenging to catch us, I sincerely hope individuals make an attempt."

SpaceX has surpassed its U.S. competitors in the global launch industry with its semi-reusable Falcon rockets launching over 100 times this year, while the next closest U.S. rocket company has only launched to orbit 12 times this year, with others in the single digits.

The company has secured billions of dollars in government contracts from the Department of Defense and NASA, making it the only US option for transporting crew to and from the International Space Station with its Dragon capsule.

Almost 5 million customers are now being served by SpaceX's Starlink satellite internet network, according to Shotwell.

SpaceX's expansion of Starlink's product offerings from consumers to enterprise markets such as aviation and maritime has become disruptive to incumbent satellite telecommunications companies.

The satellite broadband market is "enormous," according to Shotwell. Several companies are developing competitors to Starlink, including Eutelsat's OneWeb, Project Kuiper, Telesat's Lightspeed, and others.

Ron Baron, a billionaire investor, stated that his firm owns over $2 billion in privately held SpaceX stock. He also pointed out that approximately 30% of the world's 8 billion people lack access to broadband.

"I would love to say that SpaceX will serve all of them," Shotwell told Baron, "but there will be competition as there's plenty of room in this industry for competition."

SpaceX is making progress in developing its giant Starship rocket, as seen in its successful first attempt to catch the booster during the fifth test flight last month.

The Starship is not a replacement for Falcon 9 and the Dragon capsule, but rather an addition to the SpaceX fleet. It will not replace Falcon or Dragon, but will be used for six to eight more years.

"Ultimately, people will want to fly on Starship because it is bigger, more comfortable, and less expensive," Shotwell stated.

SpaceX plans to conduct Starship's sixth flight test on Monday, with the goal of enhancing the rocket's capabilities through additional demonstrations during the mission. Unlike its Falcon rockets, which only have reusable boosters and nosecones, the Starship system is designed to be fully reusable and aims to revolutionize space travel by carrying cargo and people beyond Earth.

Shotwell stated that we have already surpassed 400 launches on Falcon and it is likely that we will launch 400 Starships within the next four years.