Morgan Stanley is projecting that SpaceX revenue could reach $3.4 trillion by 2040, according to a report by The Wall Street Journal. The projection is included in materials the bank reportedly shared with top investors and is tied to the company’s broader assessment of SpaceX’s long-term scale. The WSJ describes the figure as part of how the bank is underwriting or explaining SpaceX’s valuation, which it puts at $1.77 trillion. Channel NewsAsia repeats the WSJ report, focusing on the revenue projection and the timeframe. Taken together, the sources present the forecast as a long-range financial estimate rather than a near-term guidance figure, and they frame it in the context of Morgan Stanley’s valuation work and investor discussions. Neither source provides additional operational detail, assumptions, or breakdowns of the projected revenue, nor do they report any response from SpaceX to the forecast.