Here’s a new brand analysis of aerospace designer, manufacturer and launch service provider SpaceX, in celebration of International Day of Human Space Flight! It’s an American company founded by Elon Musk, and most people are probably familiar with both. So far, they have made a total of 117 launches since their establishment in 2002.
Fast facts
- Name: SpaceX (or: Space Exploration Technologies Corp.)
- Type: Private
- Headquarters location: Hawthorne, California, USA
- Founding date: 6 May 2002
- Key people: Elon Musk (founder/CEO/CTO) and Gwynne Shotwell (president/COO)
- Key stakeholders: SpaceX investors, employees and customers
- Revenue: $2 billion in 2019
- Logo design firm: RO-Studio
Branding strategies
Some of SpaceX’s core values are to be innovative and take further steps in space technology, with the end goal of enabling human life on Mars—the very reason for its establishment.
Elon Musk, also known for having founded Tesla and The Boring Company, likes to push the limits of technology development and change humanity through it. He is one of the most well-known figures in the world and has become an inspiration for many people. You could say that he has become a brand himself, a personal brand, and this contributes significantly to the worldwide attention SpaceX has gained.
Other notable factors are SpaceX’s impressive series of historic milestones. With achievements like “the world’s first reflight of an orbital class rocket” and many more ‘firsts’ and ‘onlys’, it’s hard not to see the reason for their success as a distinct brand.
One of their biggest competitors is Blue Origin, founded by Amazon CEO Jeff Bezos. As the two richest businessmen, their personal images contribute greatly to the prominence of their respective aerospace companies. What makes SpaceX stand out is that Blue Origin is lagging behind in terms of technology and launches. Moreover, Musk has a clearer goal—getting us to Mars—and he demonstrates a stronger belief in his mission and his rockets.
A genuine brand
SpaceX values innovation, and to truly embody that, they recruit only highly innovative and creative experts through an exhaustive hiring process.
Regarding their mission for the colonization of Mars, the only way for the brand to live up to its promise is if they succeed in establishing a strong human presence on the Red Planet. While some may have doubted—or still doubt—the possibility, SpaceX has consistently developed new technology, and Musk is confident that their first human landing will occur in 2024, followed by a crewed flight in 2026.
Brand opportunities
SpaceX could further improve its brand by involving more people in the conversation about Mars colonization. Initiating discussions and promoting the idea of establishing a human presence on Mars would not only boost public belief but also increase familiarity and trust in the SpaceX brand.
Of course, SpaceX must succeed in its mission to maintain its strong reputation and possibly secure a place in future history books. Additionally, Elon Musk could further grow his personal brand, ensuring that he and SpaceX consistently receive positive coverage in the news.
Conclusion
SpaceX has done exceptionally well from a branding perspective, and it’s expected that they’ll continue to do so in the future. It’s clear that the name and persona of Elon Musk have played a huge role in growing such a prominent aerospace brand. While SpaceX has also achieved many milestones as a company on its own, the influence of a powerful and inspiring figure cannot be underestimated.
