SpaceX is pushing forward with an unprecedented strategic gamble, as the rocket giant has begun declining dedicated Falcon 9 launch orders for dates after 2028 and has halted production of certain non-reusable components, fully committing to the Starship rocket which has yet to enter commercial service.

According to sources familiar with the matter, cited by Bloomberg on Friday, SpaceX has stopped accepting new reservations for its Falcon 9 rideshare launch program and has ceased production of some non-reusable parts, including the rocket's upper stage. This strategic pivot comes at a time when SpaceX's stock is experiencing a deep correction—the company's shares have fallen approximately 24% from last month's historic IPO price of $135, closing Thursday at $118.24, more than 12% below the offering price.

These measures mean that if Starship fails to achieve commercial launch capability by the end of 2028, numerous space enterprises globally that rely on SpaceX for orbital access will face a severe capacity shortfall. This risk cannot be ignored against the backdrop of an already tight global market for heavy-lift launch vehicles.

Order Rejection Signals Start of Strategic Shift

Based on information from sources familiar with the matter obtained by Bloomberg, SpaceX has begun rejecting requests from satellite operators for dedicated Falcon 9 launches after 2028, while also pausing the acceptance of future bookings for its rideshare program. More critically, the company has stopped producing certain non-reusable components for the Falcon rocket family, including the large upper stage.

SpaceX had previously stated publicly that it planned to gradually replace the Falcon 9 with Starship but never disclosed a specific timeline. The revelation of these substantive actions marks a transition from verbal announcements to the execution phase of this strategic transformation, considered one of the most significant strategic shifts in the company's launch business in decades.

Sources also pointed out that SpaceX's plans are subject to change; if Starship development encounters major setbacks, the company may adjust its strategy. Additionally, the Falcon 9 is expected to continue handling launch missions for the U.S. Department of Defense and NASA.

Starship Faces Repeated Setbacks, Commercialization Lags

Starship is the core of Elon Musk's space ambitions, carrying grand visions for deploying data centers in space, expanding the Starlink communications network, and even sending humans to the Moon and Mars. However, the rocket has yet to enter service, with its testing cycle plagued by explosions, system malfunctions, and schedule delays.

Just this Thursday, SpaceX again postponed a planned Starship test flight, marking the second delay in about a week. The ongoing lag in Starship's development progress is considered a key factor weighing on SpaceX's stock price recently.

To leap from the testing phase to commercial launches within roughly 18 months, SpaceX must overcome multiple critical technological bottlenecks and bring this long-delayed vehicle to market—a task of extremely high difficulty.

Falcon's Exit Creates Global Orbital Capacity Gap

The Falcon 9 has effectively dominated the global commercial space launch market for years, becoming the most frequently launched rocket worldwide. It has dramatically reduced the cost of accessing space and directly spurred the boom of large-scale satellite constellation networks, including Starlink.

If the Falcon 9 exits the commercial launch market and Starship fails to take over as scheduled, numerous space enterprises reliant on SpaceX's launch capacity will find themselves in a bind. With heavy-lift rockets already in severe global shortage, SpaceX's move could further intensify the squeeze on orbital access, sending shockwaves through the entire commercial space industry chain.

SpaceX completed its historic initial public offering last month with a set price of $135 per share. However, uncertainty stemming from Starship's development delays quickly eroded market confidence, with the company's shares falling approximately 24% over the past month.