SpaceX has been awarded a $1.6 billion contract by the U.S. Space Force

SpaceX shares rose during trading on July 30 after Elon Musk’s company was awarded a $1.6 billion contract from the U.S. Space Force for 18 Falcon 9 rocket launches. Investors expect the deal to boost the stock price ahead of the release of the quarterly earnings report on August 4, according to Barron's.

Under the terms of an agreement with the U.S. Armed Forces, SpaceX will conduct 18 Falcon 9 rocket launches by the end of 2027. The rockets will be used to deploy satellites for the detection and targeting of aerial objects. The contract is worth $1.6 billion, which works out to approximately $89 million per launch.

SpaceX was awarded the contract following a competitive bidding process in which United Launch Alliance, Blue Origin, and other U.S. space companies also participated, Reuters reports.

In 2026 alone, SpaceX won $8.1 billion in contracts from the U.S. Space Force. Among them is a $4.16 billion agreement to build a network of satellites for detecting and tracking moving targets, as well as a $2.29 billion contract to develop communications satellites capable of transmitting real-time data from missile warning and tracking satellites to interceptor systems, Reuters reports. The U.S. Space Force is engaging contractors as part of the Trump administration’s plans to build the “Golden Dome” missile defense system—a multi-year project costing about $185 billion in which Musk’s company is actively involved, Reuters notes.

SpaceX shares rose 5.6% during trading on July 30, but had lost nearly all of those gains by the time of publication. Since its IPO, the stock has fallen by about 17%, and by 44% from its all-time high of $201.8. According to Barron’s, investors are concerned about the company’s high valuation—which recently exceeded 40 times projected annual earnings—as well as the upcoming sale of shares by early investors following the end of the lock-up period.

“We believe that the upcoming second-quarter 2026 earnings report could significantly alleviate some of these concerns if the company confirms the profitability of its AI computing business, clarifies its plans for financing capital expenditures, and finally relieves pressure following the end of the lock-up period,” Barron’s quotes Cantor Fitzgerald analyst Colin Canfield as saying. He maintains a Buy rating and a price target of $246.

According to MarketWatch, of the 37 analysts tracking SpaceX stock, 28 recommend buying the company’s shares, seven advise holding, and two recommend selling. The average price target is $237 per share, which is approximately 111% higher than the closing price of the last trading session.

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