SpaceX Secures $6.45B in Space Force Contracts Ahead of Record IPO

SpaceX received two U.S. Space Force contracts totaling $6.45 billion, announced May 29, 2026, weeks before its expected record initial public offering. The awards highlight the company’s deep reliance on government revenue, which accounted for one-fifth of its 2025 total, according to its IPO filing. A $4.16 billion contract will fund construction of satellites for the Trump administration’s “Golden Dome” missile defense system. A separate $2.29 billion deal, awarded earlier in the week, covers a low-Earth orbit communications network. The contracts reinforce disclosures in SpaceX’s IPO filing last week, which warned investors that its government-dependent business is vulnerable to policy shifts, budget changes, and funding levels. Elon Musk, who spent about $300 million supporting President Trump’s election, remains close to the administration. However, SpaceX has dominated the launch market for a decade, making it the default choice for many federal contracts.