As the leader in cheap and rapid spaceflight, SpaceX has launched 6,895 of the 11,500 satellites in lower Earth orbit, the optimal satellite orbit. Additionally, they boast a jaw-dropping record of 148 launches this year. So how did they do it, and who (if anyone) can catch up?
Visionary
SpaceX has always had a revolutionary vision, to achieve rapid reusability in space flight so extreme that a rocket can become like a plane with its quick maintenance and relatively low cost per flight. SpaceX's Falcon 9, their smaller commercial rocket, which is reusable for around 20 launches, costs around $12-28 million and SpaceX's Starship, the larger, costs around $68 million while being the largest rocket ever to launch. This is bizarre, in comparison to the $100 million industry average price per launch.
Iterative
SpaceX is "fast but not in a rush". Although those statements might seem to contradict each other, they are in fact true. SpaceX prioritizes quality work in its iterative process with each prototype aiming to improve upon the last; yet it does this quickly, best seen with its Starship where launches 5 and 6 were less than one month apart, but each launch tested and succeeded with new procedures. If SpaceX were simply rushing they would have begun Starship commercial flights long ago because they already satisfy the regulation of having 3 successful launches to prove a rocket's viability for commercial use, yet they desire a more complete and reusable rocket before they start its commercializing. This whole process has evidently been costly but with Elon Musk, the world's richest man, sparing no expense and other private investors they have been able to be patient while developing never-seen-before technology and novel approaches that seem to have been well worth the wait.
Competition
SpaceX's competition is years behind. Best seen with Jeff Bezos' Blue Origin with its New Shepard and New Glenn. Both rockets are in their development stage and are equipped with recovery features, yet they have not begun commercial progress nor had a display of success nearly as substantial as SpaceX's starship. With SpaceX's current success and its status as a company that prioritizes performance and quickness, it is tough to perceive a significant competitor who can catch up with its headstart and match its rate of improvement. In my opinion, considering this, SpaceX is headed to overpower the up-and-coming space market for a considerable number of years and those who own SpaceX stock will see massive success until its competitors can match its cost efficiency and rapidness.
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