SpaceX wins $4 billion contract for Trump’s Golden Dome missile-tracking satellites

SpaceX has won a contract worth more than $4 billion to build satellites that would track foreign aircraft and missiles for President Donald Trump’s planned Golden Dome defense system, according to Bloomberg. The award underscores how central Elon Musk’s company is becoming to U.S. national security programs as it prepares for an initial public offering.

The Golden Dome project is intended to create a space-based defensive shield, and the satellites from SpaceX would be part of the sensing network needed to detect and follow incoming threats. Bloomberg reported that the contract is part of a broader effort by the Trump administration to expand missile-tracking and defense capabilities in orbit.

The new deal comes on top of a separate wave of government business for SpaceX. TechCrunch reported that the company disclosed $6.45 billion in Space Force contracts in its IPO filing, noting that government work already accounted for one-fifth of SpaceX’s 2025 revenue. That financial backdrop helps explain why federal contracts are becoming a bigger part of the company’s profile as it heads toward public markets.

Bloomberg also reported that SpaceX is narrowing its IPO valuation target to at least $1.8 trillion, down from a previous goal above $2 trillion. The revised target reflects the company’s latest view of investor demand and market conditions, even as it continues to expand across rockets, satellites, and defense-related work.

Taken together, the contract and the IPO disclosures show how SpaceX is balancing two major roles at once: building the systems that support U.S. military space plans and positioning itself as one of the world’s most valuable private companies. The Golden Dome program, in particular, is likely to draw attention because it would tie SpaceX even more closely to a high-profile Trump administration defense initiative with long-term implications for U.S. space and missile defense policy.