SpaceX’s internet-beaming Starlink satellite division has reached cash flow breakeven, CEO Elon Musk says.

Of the 80 Falcon 9 and Falcon Heavy missions SpaceX has performed in 2023 so far, Starlink satellite launches have represented 51 of them.

Musk announced Starlink’s financial milestone on the social media site X, formerly known as Twitter, on Nov. 3.

“Starlink is also now a majority of all active satellites and will have launched a majority of all satellites cumulatively from Earth by next year,” he wrote.

There are 5,011 Starlink communications satellites in low Earth orbit (LEO), according to a database kept by Jonathan’s Space Pages.

In addition to signing up consumers for the internet service, SpaceX has been signing airlines and cruise ships for Starlink. In December, the company unveiled the “Starshield” military version of the satellite service. It has received a few initial contracts with the U.S. Defense Department.

In March, rival OneWeb became the first company to complete an LEO broadband internet constellation, with 618 satellites put into orbit.

SpaceX is likely to face growing competition in the LEO broadband internet market segment. Amazon’s first two prototype satellites for its planned Kuiper broadband internet constellation reached orbit in October.