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SpaceX valued at $28.5T TAM with $26B ARR deals, buy rating despite premium price

Analyst Insights
24 Jun 2026
Seeking Alpha
View Source
Bullish
pluang ai news

SpaceX holds a unique market position with a total addressable market (TAM) of $28.5 trillion across space, connectivity, and AI sectors. The company benefits from NASA certification and a first-mover advantage in private orbital launches, outpacing competitors like Blue Origin. Recent contracts with Anthropic and Google for COLOSSUS compute add about $26 billion in annual recurring revenue (ARR), more than doubling SpaceX's projected $18.7 billion revenue for fiscal year 2025. Despite a premium valuation, SpaceX is rated a buy due to its sustainable growth and absence of near-term earnings risks.

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