Musk's SpaceX Targets Public Listing Amid Starlink Expansion

SpaceX is accelerating plans for a potential public market debut, buoyed by rapid growth in its satellite internet business, Starlink, which has continued to attract millions of new users globally.

According to report, Starlink has recorded significant expansion in its user base, with both app downloads and monthly active users more than doubling in the first quarter of 2026 compared to the same period last year.

The report highlighted that the service has now achieved four consecutive quarters of over 100 per cent growth in monthly active users, underlining its position as the key revenue driver for SpaceX ahead of its anticipated initial public offering (IPO).

While the strong growth trajectory of Starlink is central to SpaceX's valuation, with projections placing the company's worth as high as $1.75 trillion as it prepares for what could become the largest IPO in history.

However, data from market intelligence firm Apptopia showed that emerging markets are playing a critical role in the expansion, with countries such as Brazil and Argentina contributing significantly to user growth.

In a country like Brazil, Starlink monthly active users reportedly increased fivefold, accounting for about 13 per cent of Starlink's global user base, while Argentina recorded a 159 per cent surge in users.

The United States, which remains Starlink's largest market, also witnessed strong performance, with app downloads tripling year-on-year to about 1.2 million in the first quarter of 2026.

Starlink's global subscriber base has now surpassed 10 million as of February 2026, reflecting sustained demand for satellite-based internet services across both developed and emerging markets.

It is noted that the continued expansion of Starlink's user base is critical to investor confidence, particularly as SpaceX explores new ventures, including orbital data centres and broader digital infrastructure services.

The anticipated IPO is expected to test investor appetite for large-scale technology listings, with SpaceX positioned as a potential benchmark for future mega public offerings globally.

Experts, however, cautioned that while growth metrics remain strong, sustaining the pace of expansion will be key to justifying the company's lofty valuation in public markets.

Starlink, which provides broadband internet via a constellation of low-Earth orbit satellites, has become the cornerstone of SpaceX's commercial strategy, contributing a significant share of its revenue.

Hence, the development comes amid intensifying competition in the satellite internet space, with global technology firms increasing investments to challenge SpaceX's dominance in the sector.