(Reuters) -Elon Musk's SpaceX will record revenue of about $15.5 billion this year, the billionaire said on Tuesday, underscoring the rocket maker's growing dominance in the commercial space sector.

The company's commercial revenue from space will exceed NASA's budget of roughly $1.1 billion next year, Musk said in a post on X.

SpaceX's success is driven largely by its satellite internet service, Starlink, which Musk has said will go public, but has not provided a timeline.

In early November 2023, Musk reported that Starlink had achieved breakeven cashflow. Under the Starlink banner, SpaceX has deployed thousands of satellites to deliver broadband internet globally.