US tech entrepreneur Elon Musk has predicted that his aerospace company, SpaceX, could make as much as $1 trillion in revenue in 2028.

"As crazy as this sounds, $1T in SpaceX revenue in 2028 is no longer impossible," Musk wrote on X.

SpaceX published a third-quarter report that showed a revenue of $14.6 billion, marking a 161% year-on-year increase. Musk congratulated SpaceX employees on the financial results for the quarter.

The entrepreneur said in June that SpaceX was projected to earn approximately $1 trillion by 2030.

SpaceX is a US space technology company founded by Musk in 2002. In February, it was merged with another of Musk's companies, xAI. In mid-June, the company went public and raised almost $86 billion as part of a record-breaking initial public offering.

@Sputnik