“For each rocket, we have to say no to 14 customers”: with an order book already bursting at the seams, German start-up Isar Aerospace sees itself overtaking SpaceX in a few years

German rocket launch start-up Isar Aerospace believes it can one day overtake American giant Space X, an ambition fueled by the explosion in defense-related demand in the space sector, its boss said on Tuesday. When Elon Musk founded Space Asked about a possible future valuation of 100 billion euros, Daniel Metzler was even more ambitious.

"I honestly think the number is much higher, but then people would still think I'm completely crazy," he joked. According to him, these prospects are based in particular on the rapid growth of military needs in space, in a context of European rearmament. “Until about 18 months ago, about 85% of our customers' requests were commercial, 15% for military use, and today it's exactly the opposite,” he said.

Achieving “industrial mass production” According to Daniel Metzler, the global space industry today represents between 600 and 700 billion euros in annual turnover and is growing at around 15% per year. “This can only continue to increase, including through the share of defense in space over the next 10 to 15 years,” he estimated. This dynamic is reflected in the order books of the Munich start-up, which succeeded in placing a rocket into orbit from Norway at the beginning of September, a first for continental Europe.

“In 2028 alone, we can sell about 15 times more rockets than we think we can actually produce ourselves,” Daniel Metzler said. So “for each rocket, we have to say no to 14 customers”. According to him, the next essential step is to achieve "industrial mass production", which is currently "the biggest bottleneck in the space industry".

“It’s great to be able to build a rocket. It makes a great video and a great title, but in the end, you often have to do it again,” he recalled. “This is precisely where the great opportunity lies for Germany, for Europe, because we are world leaders in high-quality industrial mass production.”

Machine-translated from French