Starship Reusability Doubts Cloud SpaceX Growth
星舰重复使用前景不明拖累SpaceX增长
SpaceX’s IPO filing and recent Starship test suggest the company may struggle to achieve the full rocket reusability Elon Musk promised. While Starlink generated $11.4 billion last year, maintaining the satellite network is expensive because many satellites must be replaced annually. SpaceX hinted that fully reusable Starships may not be required for future launches, but expendable rockets would keep launch costs high. The latest Starship test also showed engine restart problems, a key feature for reusability. Meanwhile, Starlink subscriber growth is slowing, average customer revenue is falling, and rivals like Amazon’s Kuiper network are increasing competition. Analysts warn the satellite internet market may be smaller than expected.
SpaceX的IPO文件和最近的星舰测试显示，公司可能难以实现马斯克承诺的“完全重复使用火箭”。虽然Starlink去年收入达114亿美元，但维持卫星网络成本很高，因为大量卫星需要定期更换。SpaceX暗示未来发射可能不需要完全可重复使用的星舰，但一次性火箭会让发射成本维持高位。最近测试中，发动机重新点火也出现问题。同时，Starlink用户增长放缓、平均收入下降，而亚马逊Kuiper等竞争对手正在追赶。分析师警告，卫星互联网市场规模可能比预期更小。
