SpaceX is the fastest growing space company worldwide. It has achieved major successes since its creation in 2002, and its level of technical execution has established the company as a benchmark for the newspace community and as a model to follow for countless start-ups in the sector. 

Incumbent players in the launch sector have been looking at SpaceX, first with skepticism, then incredulity, and now with awe, witnessing the company unfolding its business model, initially sparked by Elon Musk’s criticism that access to space was too expensive. 

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Pierre Lionnet is the Research and Managing Director at Eurospace, the trade organization of the European space industry). He labels himself a space economist, being an economist by training and being professionally involved in the analysis of space markets,...