{"id":28110,"date":"2026-07-27T09:46:50","date_gmt":"2026-07-27T00:46:50","guid":{"rendered":"https:\/\/official.gfs.tokyo\/blog\/?p=28110"},"modified":"2026-07-27T09:46:50","modified_gmt":"2026-07-27T00:46:50","slug":"ue-should-you-buy-spacex-stock-now","status":"publish","type":"post","link":"https:\/\/official.gfs.tokyo\/blog\/ue-should-you-buy-spacex-stock-now","title":{"rendered":"\u3010SPCX\u3011SpaceX\uff08\u30b9\u30da\u30fc\u30b9X\uff09\u682a\u306f\u4eca\u8cb7\u3046\u3079\u304d\u304b\uff1f\u904e\u53bb\u30fb\u73fe\u5728\u30fb\u672a\u6765\u306e\u6210\u9577\u6027\u3068\u682a\u4fa1\u5c55\u671b\u3092\u5fb9\u5e95\u89e3\u8aac"},"content":{"rendered":"<h2 data-path-to-node=\"0\">\u3010SPCX\u3011SpaceX\uff08\u30b9\u30da\u30fc\u30b9X\uff09\u682a\u306f\u4eca\u8cb7\u3046\u3079\u304d\u304b\uff1f\u904e\u53bb\u30fb\u73fe\u5728\u30fb\u672a\u6765\u306e\u6210\u9577\u6027\u3068\u682a\u4fa1\u5c55\u671b\u3092\u5fb9\u5e95\u89e3\u8aac<\/h2>\n<h2 data-path-to-node=\"2\">\u5e8f\u8ad6\uff1a\u5b87\u5b99\u30c7\u30fc\u30bf\u7d4c\u6e08\uff08Space Data Economy\uff09\u6642\u4ee3\u306e\u5e55\u958b\u3051<\/h2>\n<p data-path-to-node=\"3\">\u304b\u3064\u3066\u300c\u56fd\u5a01\u767a\u63da\u306e\u305f\u3081\u306e\u5b98\u50da\u7684\u30a4\u30cb\u30b7\u30a2\u30c1\u30d6\u300d\u3067\u3042\u3063\u305f\u5b87\u5b99\u958b\u767a\u306f\u3001\u30a4\u30fc\u30ed\u30f3\u30fb\u30de\u30b9\u30af\u6c0f\u7387\u3044\u308bSpaceX\uff08Space Exploration Technologies Corp.\uff09\u306e\u767b\u5834\u306b\u3088\u3063\u3066\u3001\u5de8\u5927\u306a\u5e02\u5834\u898f\u6a21\u3092\u8a87\u308b\u6c11\u9593\u30a4\u30f3\u30d5\u30e9\u7523\u696d\u3078\u3068\u4e0d\u53ef\u9006\u7684\u306a\u5909\u5316\u3092\u9042\u3052\u307e\u3057\u305f\u3002<\/p>\n<p data-path-to-node=\"4\" id=\"p-rc_4776b82a9d607f82-465\"><span class=\"citation-1007\">2026\u5e746\u670812\u65e5\u3001SpaceX\u306f\u8a55\u4fa1\u984d1.77\u5146\u30c9\u30eb\uff08\u7d04270\u5146\u5186\uff09\u3068\u3044\u3046\u6b74\u53f2\u4e0a\u6700\u5927\u306e\u898f\u6a21\u3067NASDAQ\u3078\u306e\u65b0\u898f\u4e0a\u5834\uff08\u30c6\u30a3\u30c3\u30ab\u30fc\u30b7\u30f3\u30dc\u30eb\uff1a<\/span><b data-path-to-node=\"4\" data-index-in-node=\"71\"><span class=\"citation-1007\">SPCX<\/span><\/b><span class=\"citation-1007 citation-end-1007\">\uff09\u3092\u679c\u305f\u3057\u307e\u3057\u305f\u3002\u4e0a\u5834\u76f4\u5f8c\u306b\u306f\u6642\u4fa1\u7dcf\u984d2.1\u5146\u30c9\u30eb\u3092\u7a81\u7834\u3057\u3001\u540d\u5b9f\u3068\u3082\u306b\u30b0\u30ed\u30fc\u30d0\u30eb\u30c6\u30af\u30ce\u30ed\u30b8\u30fc\u5e02\u5834\u306e\u9802\u70b9\u306b\u541b\u81e8\u3057\u3066\u3044\u307e\u3059\u3002<source-footnote ng-version=\"0.0.0-PLACEHOLDER\" _nghost-ng-c3417368637=\"\"><sup _ngcontent-ng-c3417368637=\"\" class=\"superscript\" data-turn-source-index=\"1\"><\/sup><\/source-footnote><\/span><sources-carousel-inline ng-version=\"0.0.0-PLACEHOLDER\" _nghost-ng-c567799229=\"\"><source-inline-chip _ngcontent-ng-c567799229=\"\" _nghost-ng-c434047400=\"\" class=\"ng-star-inserted\"><\/source-inline-chip><\/sources-carousel-inline><\/p>\n<p data-path-to-node=\"5\">\u672c\u30ec\u30dd\u30fc\u30c8\u306f\u3001\u500b\u4eba\u6295\u8cc7\u5bb6\u304b\u3089\u30d7\u30ed\u306e\u6a5f\u95a2\u6295\u8cc7\u5bb6\u307e\u3067\u3092\u5bfe\u8c61\u306b\u3001\u540c\u793e\u306e\u8ca1\u52d9\u69cb\u9020\u3001\u904e\u53bb\u30fb\u73fe\u5728\u30fb\u672a\u6765\u306e\u30a4\u30ce\u30d9\u30fc\u30b7\u30e7\u30f3\u3001\u57fa\u5e79\u4e8b\u696d\u300cStarlink\u300d\u306e\u53ce\u76ca\u30e1\u30ab\u30cb\u30ba\u30e0\u3001\u5f37\u56fa\u306a\u30e2\u30fc\u30c8\uff08\u7af6\u5408\u512a\u4f4d\u6027\uff09\u3001\u305d\u3057\u3066\u4e0a\u5834\u5f8c\u306e\u682a\u5f0f\u6295\u8cc7\u6226\u7565\u3092\u591a\u89d2\u7684\u306b\u5fb9\u5e95\u89e3\u5256\u3057\u305f\u5305\u62ec\u7684\u30ac\u30a4\u30c9\u3067\u3059\u3002<\/p>\n<div>\n<div class=\"attention a-1\">\n<p style=\"text-align: left;\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2022\/03\/yuichiro_ichikawa.jpg\" alt=\"\u76e3\u4fee\u8005\uff1a\u5e02\u5ddd\u96c4\u4e00\u90ce\" width=\"110\" height=\"110\" class=\"wp-image-2102 alignnone\" srcset=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2022\/03\/yuichiro_ichikawa.jpg 700w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2022\/03\/yuichiro_ichikawa-300x300.jpg 300w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2022\/03\/yuichiro_ichikawa-150x150.jpg 150w\" sizes=\"(max-width: 110px) 100vw, 110px\" \/>\u3000<strong>\u76e3\u4fee\u8005\uff1a\u5e02\u5ddd\u96c4\u4e00\u90ce\u3000<\/strong><br \/>\n<span style=\"font-size: 10pt;\"><a href=\"https:\/\/official.gfs.tokyo\/\">GFS<\/a>\u6821\u9577\u3002CFP\u00ae\u30021\u7d1a\u30d5\u30a1\u30a4\u30ca\u30f3\u30b7\u30e3\u30eb\u30fb\u30d7\u30e9\u30f3\u30cb\u30f3\u30b0\u6280\u80fd\u58eb(\u8cc7\u7523\u8a2d\u8a08\u63d0\u6848\u696d\u52d9)\u3002<a href=\"https:\/\/www.jafp.or.jp\/\">\u65e5\u672cFP\u5354\u4f1a<\/a>\u4f1a\u54e1\u3002\u65e5\u672cFP\u5b66\u4f1a\u4f1a\u54e1\u3002\u00a0<a href=\"https:\/\/mba.globis.ac.jp\/\">\u30b0\u30ed\u30fc\u30d3\u30b9\u7d4c\u55b6\u5927\u5b66\u9662<\/a>\u4fee\u4e86(MBA\/\u7d4c\u55b6\u5b66\u4fee\u58eb)\u3002<\/span><br \/>\n<span style=\"font-size: 10pt;\">\u65e5\u672c\u306eFP\u306e\u5148\u99c6\u8005\u3068\u3057\u3066\u8cc7\u7523\u904b\u7528\u306e\u5553\u8499\u306b\u5f93\u4e8b\u3002\u30bd\u30d5\u30c8\u30d0\u30f3\u30af\u30b0\u30eb\u30fc\u30d7\u304c\u5275\u8a2d\u3057\u305f\u79c1\u7acb<a href=\"https:\/\/www.cyber-u.ac.jp\/teacher\/ichikawa_yuichiro.html\">\u30b5\u30a4\u30d0\u30fc\u5927\u5b66<\/a>\u3067\u6559\u97ad\u3092\u57f7\u308b\u307b\u304b\u3001\u8b1b\u6f14\u4f9d\u983c\u3001\u30e1\u30c7\u30a3\u30a2\u51fa\u6f14\u3082\u591a\u6570\u3002\u8457\u66f8\u306b<a href=\"https:\/\/www.amazon.co.jp\/%E6%8A%95%E8%B3%87%E3%81%A7%E5%88%A9%E7%9B%8A%E3%82%92%E5%87%BA%E3%81%97%E3%81%A6%E3%81%84%E3%82%8B%E4%BA%BA%E3%81%9F%E3%81%A1%E3%81%8C%E5%A4%A7%E4%BA%8B%E3%81%AB%E3%81%97%E3%81%A6%E3%81%84%E3%82%8B-45%E3%81%AE%E6%95%99%E3%81%88-%E5%B8%82%E5%B7%9D-%E9%9B%84%E4%B8%80%E9%83%8E\/dp\/4532358825\">\u300c\u6295\u8cc7\u3067\u5229\u76ca\u3092\u51fa\u3057\u3066\u3044\u308b\u4eba\u305f\u3061\u304c\u5927\u4e8b\u306b\u3057\u3066\u3044\u308b 45\u306e\u6559\u3048\u300d\uff08\u65e5\u672c\u7d4c\u6e08\u65b0\u805e\u51fa\u7248\uff09<\/a><\/span><\/p>\n<p style=\"text-align: left;\"><span style=\"font-size: 10pt;\">\u516c\u5f0fX \u30a2\u30ab\u30a6\u30f3\u30c8\u3000<a href=\"https:\/\/twitter.com\/ichikawa_toushi\">\u5e02\u5ddd\u96c4\u4e00\u90ce@\u304a\u91d1\u306e\u5b66\u6821 \u6821\u9577<\/a><\/span><\/p>\n<\/div>\n<\/div>\n<h2 data-path-to-node=\"7\">\u7b2c1\u7ae0\uff1aSpaceX\u306e\u904e\u53bb\u30fb\u73fe\u5728\u30fb\u672a\u6765 \u2014 3\u3064\u306e\u9032\u5316\u8ef8<\/h2>\n<p data-path-to-node=\"8\">SpaceX\u306e\u4f01\u696d\u4fa1\u5024\u3092\u6b63\u3057\u304f\u8a55\u4fa1\u3059\u308b\u306b\u306f\u3001\u540c\u793e\u304c\u6b69\u3093\u3067\u304d\u305f\u30a4\u30ce\u30d9\u30fc\u30b7\u30e7\u30f3\u306e\u8ecc\u8de1\u3092\u300c\u904e\u53bb\uff08\u5b87\u5b99\u8f38\u9001\u9769\u547d\uff09\u300d\u300c\u73fe\u5728\uff08\u30a4\u30f3\u30d5\u30e9\u30de\u30cd\u30bf\u30a4\u30ba\uff09\u300d\u300c\u672a\u6765\uff08\u60d1\u661f\u9593\u8f38\u9001\u3068\u8ecc\u9053\u4e0a\u8a08\u7b97\u7db2\uff09\u300d\u306e3\u3064\u306e\u6642\u9593\u8ef8\u3067\u6574\u7406\u3059\u308b\u5fc5\u8981\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<h1 data-path-to-node=\"0\"><response-element class=\"\" ng-version=\"0.0.0-PLACEHOLDER\"><code-block _nghost-ng-c3591150031=\"\" class=\"ng-tns-c3591150031-377 enable-luminous-code-block ng-star-inserted\"><\/p>\n<div _ngcontent-ng-c3591150031=\"\" class=\"code-block ng-tns-c3591150031-377 ng-animate-disabled ng-trigger ng-trigger-codeBlockRevealAnimation\" jslog=\"223238;track:impression,attention;BardVeMetadataKey:[[&quot;r_eb3ad005d357ee46&quot;,&quot;c_a07d3f5d0f229134&quot;,null,&quot;rc_4776b82a9d607f82&quot;,null,null,&quot;ja&quot;,null,1,null,null,1,0]]\">\n<div _ngcontent-ng-c3591150031=\"\" class=\"formatted-code-block-internal-container ng-tns-c3591150031-377\">\n<div _ngcontent-ng-c3591150031=\"\" class=\"animated-opacity ng-tns-c3591150031-377\">\n<pre _ngcontent-ng-c3591150031=\"\" class=\"ng-tns-c3591150031-377\"><span style=\"font-size: 14pt;\"><code _ngcontent-ng-c3591150031=\"\" role=\"text\" data-test-id=\"code-content\" class=\"code-container formatted ng-tns-c3591150031-377 no-decoration-radius\">\u3010SpaceX\u306e\u767a\u5c55\u3068\u30d3\u30b8\u30cd\u30b9\u30e2\u30c7\u30eb\u306e\u5909\u9077\u3011\r\n\r\n \u3010\u904e\u53bb\uff1a\u8f38\u9001\u30a4\u30f3\u30d5\u30e9\u306e\u5b8c\u6210\u3011\r\n \u2514\u2500\u2500 Falcon 9 \/ \u518d\u5229\u7528\u6280\u8853\u306e\u78ba\u7acb\r\n     \u2514\u2500\u2500 \u8ecc\u9053\u6295\u5165\u30b3\u30b9\u30c8\u3092\u5f93\u6765\u306e1\/10\u4ee5\u4e0b\u3078\uff081kg\u3042\u305f\u308a\u6570\u5343\u30c9\u30eb\u6c34\u6e96\uff09\r\n\r\n \u3010\u73fe\u5728\uff1a\u30d7\u30e9\u30c3\u30c8\u30d5\u30a9\u30fc\u30e0\u5316\u3068\u73fe\u91d1\u5275\u51fa\u3011\r\n \u2514\u2500\u2500 Starlink (\u5b87\u5b99\u30d6\u30ed\u30fc\u30c9\u30d0\u30f3\u30c9) \uff0b xAI\u3068\u306e\u7d71\u5408 (\u8ecc\u9053\u4e0a\u30c7\u30fc\u30bf\u30bb\u30f3\u30bf\u30fc)\r\n     \u2514\u2500\u2500 \u5e74\u9593100\u5104\u30c9\u30eb\u898f\u6a21\u306e\u5f37\u529b\u306a\u30ad\u30e3\u30c3\u30b7\u30e5\u6d41\u51fa\u5165\uff08\u81ea\u5df1\u8cc7\u91d1\u5316\u30e2\u30c7\u30eb\uff09\r\n\r\n \u3010\u672a\u6765\uff1a\u7d76\u5bfe\u7684\u72ec\u5360\u3068\u591a\u60d1\u661f\u7a2e\u5316\u3011\r\n \u2514\u2500\u2500 Starship\u5b8c\u5168\u518d\u5229\u7528 \uff0b \u6708\u30fb\u706b\u661f\u62e0\u70b9\u5316 \uff0b \u9632\u885b\u30a4\u30f3\u30d5\u30e9\uff08Starshield\uff09\r\n     \u2514\u2500\u2500 1kg\u3042\u305f\u308a100\u30c9\u30eb\u4ee5\u4e0b\u306e\u4e16\u754c\u3001\u5b87\u5b99\u898f\u6a21\u306e\u30a4\u30f3\u30d5\u30e9\u72ec\u5360\r\n<\/code><\/span><\/pre>\n<\/div>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<p><\/code-block><\/response-element><\/h1>\n<h3 data-path-to-node=\"10\">1.1 \u3010\u904e\u53bb\u3011\u30ed\u30b1\u30c3\u30c8\u518d\u5229\u7528\u6280\u8853\u304c\u3082\u305f\u3089\u3057\u305f\u69cb\u9020\u7684\u7834\u58ca<\/h3>\n<p data-path-to-node=\"11\">2000\u5e74\u4ee3\u521d\u982d\u3001\u5b87\u5b99\u7523\u696d\u306b\u304a\u3051\u308b\u6700\u5927\u306e\u30dc\u30c8\u30eb\u30cd\u30c3\u30af\u306f\u300c\u30ed\u30b1\u30c3\u30c8\u306f1\u56de\u6253\u3061\u4e0a\u3052\u308b\u305f\u3073\u306b\u5168\u640d\u30fb\u7834\u68c4\u3055\u308c\u308b\u300d\u3068\u3044\u3046\u5e38\u8b58\u306b\u3042\u308a\u307e\u3057\u305f\u3002<\/p>\n<ul data-path-to-node=\"12\">\n<li>\n<p data-path-to-node=\"12,0,0\"><b data-path-to-node=\"12,0,0\" data-index-in-node=\"0\">Falcon 9\uff08\u30d5\u30a1\u30eb\u30b3\u30f39\uff09\u306b\u3088\u308b\u5782\u76f4\u7740\u9678\u30fb\u518d\u5229\u7528\u306e\u5b9f\u7528\u5316<\/b><\/p>\n<p data-path-to-node=\"12,0,1\" id=\"p-rc_4776b82a9d607f82-466\"><span class=\"citation-1006 citation-end-1006\">2015\u5e74\u306b\u30d6\u30fc\u30b9\u30bf\u30fc\uff08\u7b2c1\u6bb5\u30ed\u30b1\u30c3\u30c8\uff09\u306e\u5782\u76f4\u7740\u9678\u306b\u6210\u529f\u3057\u3066\u4ee5\u6765\u3001SpaceX\u306f\u540c\u3058\u6a5f\u4f53\u3092\u5341\u6570\u56de\u304b\u3089\u4e8c\u5341\u6570\u56de\u306b\u308f\u305f\u3063\u3066\u6574\u5099\u30fb\u518d\u4f7f\u7528\u3059\u308b\u6280\u8853\u3092\u5b8c\u74a7\u306b\u4ed5\u4e0a\u3052\u307e\u3057\u305f\u3002<source-footnote ng-version=\"0.0.0-PLACEHOLDER\" _nghost-ng-c3417368637=\"\"><sup _ngcontent-ng-c3417368637=\"\" class=\"superscript\" data-turn-source-index=\"2\"><\/sup><\/source-footnote><\/span><sources-carousel-inline ng-version=\"0.0.0-PLACEHOLDER\" _nghost-ng-c567799229=\"\"><source-inline-chip _ngcontent-ng-c567799229=\"\" _nghost-ng-c434047400=\"\" class=\"ng-star-inserted\"><\/source-inline-chip><\/sources-carousel-inline><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"12,1,0\" id=\"p-rc_4776b82a9d607f82-467\"><b data-path-to-node=\"12,1,0\" data-index-in-node=\"0\"><span class=\"citation-1005 citation-end-1005\">\u5358\u4f4d\u30b3\u30b9\u30c8\u306e\u5727\u5012\u7684\u524a\u6e1b<source-footnote ng-version=\"0.0.0-PLACEHOLDER\" _nghost-ng-c3417368637=\"\"><sup _ngcontent-ng-c3417368637=\"\" class=\"superscript\" data-turn-source-index=\"3\"><\/sup><\/source-footnote><\/span><\/b><sources-carousel-inline ng-version=\"0.0.0-PLACEHOLDER\" _nghost-ng-c567799229=\"\"><source-inline-chip _ngcontent-ng-c567799229=\"\" _nghost-ng-c434047400=\"\" class=\"ng-star-inserted\"><\/source-inline-chip><\/sources-carousel-inline><\/p>\n<p data-path-to-node=\"12,1,1\">\u5f93\u6765\u306e\u7af6\u5408\uff08ULA\u3001\u30a2\u30ea\u30a2\u30f3\u30b9\u30da\u30fc\u30b9\u7b49\uff09\u304c1kg\u3042\u305f\u308a\u306e\u8ecc\u9053\u6295\u5165\u306b1\u4e07\u301c2\u4e07\u30c9\u30eb\u3092\u8981\u3057\u3066\u3044\u305f\u306e\u306b\u5bfe\u3057\u3001Falcon 9\u306f\u6570\u5343\u30c9\u30eb\u4ee5\u4e0b\u3078\u3068\u4f4e\u6e1b\u3002\u4e16\u754c\u306e\u5546\u696d\u6253\u3061\u4e0a\u3052\u5e02\u5834\u306e8\u5272\u4ee5\u4e0a\u306e\u30b7\u30a7\u30a2\u3092\u4e8b\u5b9f\u4e0a\u72ec\u5360\u3059\u308b\u307e\u3067\u306b\u81f3\u308a\u307e\u3057\u305f\u3002<\/p>\n<\/li>\n<\/ul>\n<h3 data-path-to-node=\"13\">1.2 \u3010\u73fe\u5728\u3011\u901a\u4fe1\u30d7\u30e9\u30c3\u30c8\u30d5\u30a9\u30fc\u30e0\u300cStarlink\u300d\u306e\u73fe\u91d1\u5275\u51fa\u30a8\u30f3\u30b8\u30f3\u5316<\/h3>\n<p data-path-to-node=\"14\" id=\"p-rc_4776b82a9d607f82-468\"><span class=\"citation-1004 citation-end-1004\">\u30ed\u30b1\u30c3\u30c8\u306e\u6253\u3061\u4e0a\u3052\u30b3\u30b9\u30c8\u3092\u4ed6\u793e\u306e\u8ffd\u968f\u3092\u8a31\u3055\u306a\u3044\u30ec\u30d9\u30eb\u307e\u3067\u4e0b\u3052\u305fSpaceX\u304c\u6253\u3061\u51fa\u3057\u305f\u6b21\u306e\u4e00\u624b\u304c\u3001\u300c\u4f4e\u8ecc\u9053\uff08LEO\uff09\u885b\u661f\u901a\u4fe1\u30cd\u30c3\u30c8\u30ef\u30fc\u30af\uff08Starlink\uff09\u300d\u306e\u5c55\u958b\u3067\u3059\u3002<source-footnote ng-version=\"0.0.0-PLACEHOLDER\" _nghost-ng-c3417368637=\"\"><sup _ngcontent-ng-c3417368637=\"\" class=\"superscript\" data-turn-source-index=\"4\"><\/sup><\/source-footnote><\/span><sources-carousel-inline ng-version=\"0.0.0-PLACEHOLDER\" _nghost-ng-c567799229=\"\"><source-inline-chip _ngcontent-ng-c567799229=\"\" _nghost-ng-c434047400=\"\" class=\"ng-star-inserted\"><\/source-inline-chip><\/sources-carousel-inline><\/p>\n<ul data-path-to-node=\"15\">\n<li>\n<p data-path-to-node=\"15,0,0\"><b data-path-to-node=\"15,0,0\" data-index-in-node=\"0\">\u53d7\u8a17\u88fd\u9020\u30fb\u6253\u3061\u4e0a\u3052\uff08\u30d5\u30ed\u30fc\u578b\uff09\u304b\u3089\u5b9a\u984d\u901a\u4fe1\u6599\uff08\u30b9\u30c8\u30c3\u30af\u578b\uff09\u3078<\/b><\/p>\n<p data-path-to-node=\"15,0,1\">\u5358\u767a\u306e\u53d7\u8a17\u4e8b\u696d\u3060\u3051\u3067\u306a\u304f\u3001\u5168\u4e16\u754c\u306e\u500b\u4eba\u30fb\u6cd5\u4eba\u30fb\u653f\u5e9c\u304b\u3089\u6bce\u6708\u5b9a\u984d\u306e\u901a\u4fe1\u6599\u3092\u5f97\u308b\u30b5\u30d6\u30b9\u30af\u30ea\u30d7\u30b7\u30e7\u30f3\u30e2\u30c7\u30eb\u3092\u78ba\u7acb\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"15,1,0\"><b data-path-to-node=\"15,1,0\" data-index-in-node=\"0\">\u81ea\u793e\u6253\u3061\u4e0a\u3052\u306b\u3088\u308b\u8d85\u9ad8\u7c97\u5229\u7387<\/b><\/p>\n<p data-path-to-node=\"15,1,1\">\u81ea\u793e\u306e\u30ed\u30b1\u30c3\u30c8\uff08\u539f\u4fa1\u6c34\u6e96\uff09\u3067\u81ea\u793e\u306e\u901a\u4fe1\u885b\u661f\u3092\u6253\u3061\u4e0a\u3052\u308b\u69cb\u9020\u306b\u3088\u308a\u3001\u901a\u4fe1\u30ad\u30e3\u30ea\u30a2\u3068\u3057\u3066\u306e\u8a2d\u5099\u6295\u8cc7\u52b9\u7387\uff08CAPEX\u52b9\u7387\uff09\u304c\u4e16\u754c\u306e\u3069\u306e\u96fb\u6c17\u901a\u4fe1\u4e8b\u696d\u8005\u3088\u308a\u3082\u9ad8\u304f\u306a\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n<\/li>\n<\/ul>\n<h3 data-path-to-node=\"16\">1.3 \u3010\u672a\u6765\u3011\u5b8c\u5168\u518d\u5229\u7528\u8d85\u5927\u578b\u30ed\u30b1\u30c3\u30c8\u300cStarship\u300d\u3068\u8ecc\u9053\u4e0a\u30c7\u30fc\u30bf\u30bb\u30f3\u30bf\u30fc<\/h3>\n<p data-path-to-node=\"17\">SpaceX\u306e\u682a\u4fa1\u3092\u652f\u3048\u308b\u9577\u671f\u7684\u30de\u30eb\u30c1\u30d7\u30eb\uff08\u500d\u7387\uff09\u306e\u6e90\u6cc9\u306f\u3001\u5168\u6bb5\u5b8c\u5168\u518d\u5229\u7528\u3092\u76ee\u6307\u3059\u5de8\u5927\u7d71\u5408\u30ed\u30b1\u30c3\u30c8Starship\uff08\u30b9\u30bf\u30fc\u30b7\u30c3\u30d7\uff09\u3067\u3059\u3002<\/p>\n<ul data-path-to-node=\"18\">\n<li>\n<p data-path-to-node=\"18,0,0\"><b data-path-to-node=\"18,0,0\" data-index-in-node=\"0\">1kg\u3042\u305f\u308a100\u30c9\u30eb\u4ee5\u4e0b\u306e\u885d\u6483<\/b><\/p>\n<p data-path-to-node=\"18,0,1\">Starship\u304c\u5b8c\u5168\u5546\u696d\u904b\u7528\u306b\u5165\u308b\u3068\u3001\u6570\u5341\u30c8\u30f3\u304b\u3089\u767e\u30c8\u30f3\u4ee5\u4e0a\u306e\u7269\u8cc7\u3092\u4e00\u5ea6\u306b\u3001\u304b\u3064\u6570\u767e\u4e07\u30c9\u30eb\u30ec\u30d9\u30eb\u306e\u539f\u4fa1\u3067\u5b87\u5b99\u7a7a\u9593\u3078\u8f38\u9001\u53ef\u80fd\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"18,1,0\"><b data-path-to-node=\"18,1,0\" data-index-in-node=\"0\">\u8ecc\u9053\u4e0aAI\u30c7\u30fc\u30bf\u30bb\u30f3\u30bf\u30fc\u69cb\u60f3\uff08xAI\u3068\u306e\u7d71\u5408\uff09<\/b><\/p>\n<p data-path-to-node=\"18,1,1\">SpaceX\u306f\u4e0a\u5834\u524d\u306b\u30a4\u30fc\u30ed\u30f3\u30fb\u30de\u30b9\u30af\u6c0f\u306eAI\u958b\u767a\u4f01\u696d\u300cxAI\u300d\u3092\u5438\u53ce\u5408\u4f75\u3057\u307e\u3057\u305f\u3002Starship\u3092\u7528\u3044\u3066\u5de8\u5927\u306aAI\u7528\u30c7\u30fc\u30bf\u30bb\u30f3\u30bf\u30fc\u885b\u661f\u3092\u8ecc\u9053\u4e0a\u306b\u76f4\u63a5\u6295\u5165\u3057\u3001\u5730\u4e0a\u3067\u306e\u96fb\u529b\u4e0d\u8db3\u30fb\u51b7\u5374\u5236\u7d04\u3092\u56de\u907f\u3057\u305f\u300c\u5b87\u5b99\u30af\u30e9\u30a6\u30c9\u8a08\u7b97\u30cd\u30c3\u30c8\u30ef\u30fc\u30af\u300d\u306e\u69cb\u7bc9\u3092\u63b2\u3052\u3066\u3044\u307e\u3059\u3002<\/p>\n<\/li>\n<\/ul>\n<h2 data-path-to-node=\"20\">\u7b2c2\u7ae0\uff1aStarlink\uff08\u30b9\u30bf\u30fc\u30ea\u30f3\u30af\uff09\u4e8b\u696d\u306e\u5fb9\u5e95\u5206\u6790 \u2014 \u6570\u5b57\u3067\u898b\u308b\u6210\u9577\u6027\u3068\u53ce\u76ca\u69cb\u9020<\/h2>\n<p data-path-to-node=\"21\" id=\"p-rc_4776b82a9d607f82-469\"><span class=\"citation-1003 citation-end-1003\">SpaceX\u306e\u5168\u58f2\u4e0a\u9ad8\u306e\u904e\u534a\u3092\u5360\u3081\u3001\u4e0a\u5834\u4f01\u696d\u3068\u3057\u3066\u306e\u8a55\u4fa1\u306e\u4e3b\u8ef8\u3092\u62c5\u3046\u306e\u304cStarlink\u30bb\u30b0\u30e1\u30f3\u30c8\u3067\u3059\u3002<source-footnote ng-version=\"0.0.0-PLACEHOLDER\" _nghost-ng-c3417368637=\"\"><sup _ngcontent-ng-c3417368637=\"\" class=\"superscript\" data-turn-source-index=\"5\"><\/sup><\/source-footnote><\/span><sources-carousel-inline ng-version=\"0.0.0-PLACEHOLDER\" _nghost-ng-c567799229=\"\"><source-inline-chip _ngcontent-ng-c567799229=\"\" _nghost-ng-c434047400=\"\" class=\"ng-star-inserted\"><\/source-inline-chip><\/sources-carousel-inline><\/p>\n<h3 data-path-to-node=\"22\">2.1 \u58f2\u4e0a\u69cb\u9020\uff08Segment Revenue\uff09\u306e\u89e3\u5256<\/h3>\n<p data-path-to-node=\"23\">Starlink\u306e\u58f2\u4e0a\u306f\u3001\u5358\u306a\u308b\u300c\u5730\u65b9\u306e\u500b\u4eba\u5411\u3051Wi-Fi\u300d\u3092\u8d85\u3048\u3066\u9ad8\u5ea6\u306b\u591a\u89d2\u5316\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<h1 data-path-to-node=\"0\"><response-element class=\"\" ng-version=\"0.0.0-PLACEHOLDER\"><code-block _nghost-ng-c3591150031=\"\" class=\"ng-tns-c3591150031-378 enable-luminous-code-block ng-star-inserted\"><\/p>\n<div _ngcontent-ng-c3591150031=\"\" class=\"code-block ng-tns-c3591150031-378 ng-animate-disabled ng-trigger ng-trigger-codeBlockRevealAnimation\" jslog=\"223238;track:impression,attention;BardVeMetadataKey:[[&quot;r_eb3ad005d357ee46&quot;,&quot;c_a07d3f5d0f229134&quot;,null,&quot;rc_4776b82a9d607f82&quot;,null,null,&quot;ja&quot;,null,1,null,null,1,0]]\">\n<div _ngcontent-ng-c3591150031=\"\" class=\"formatted-code-block-internal-container ng-tns-c3591150031-378\">\n<div _ngcontent-ng-c3591150031=\"\" class=\"animated-opacity ng-tns-c3591150031-378\">\n<pre _ngcontent-ng-c3591150031=\"\" class=\"ng-tns-c3591150031-378\"><code _ngcontent-ng-c3591150031=\"\" role=\"text\" data-test-id=\"code-content\" class=\"code-container formatted ng-tns-c3591150031-378 no-decoration-radius\"><span style=\"font-size: 14pt;\">\u3010Starlink\u306e\u30bb\u30b0\u30e1\u30f3\u30c8\u5225\u53ce\u76ca\u30e2\u30c7\u30eb\u3011\r\n\r\n \u250c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2510\r\n \u2502 1. \u4e00\u822c\u5bb6\u5ead\u30fb\u904e\u758e\u5730\u5411\u3051 (Residential)             \u2502 \u2500\u2500 \u30e6\u30fc\u30b6\u30fc\u6570\u57fa\u76e4\uff08\u30b0\u30ed\u30fc\u30d0\u30eb\u5c55\u958b\uff09\r\n \u251c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2524\r\n \u2502 2. \u6cd5\u4eba\u30fb\u4f01\u696d\u30d0\u30c3\u30af\u30a2\u30c3\u30d7 (Enterprise)              \u2502 \u2500\u2500 \u9ad8\u5e2f\u57df\u30fb\u9ad8\u5358\u4fa1\u5951\u7d04\uff08SLA\u4fdd\u8a3c\u4ed8\u304d\uff09\r\n \u251c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2524\r\n \u2502 3. \u79fb\u52d5\u4f53\u901a\u4fe1 (Maritime \/ Aviation)               \u2502 \u2500\u2500 \u822a\u7a7a\u6a5f\u5185Wi-Fi\u30fb\u6d77\u904b\u30fb\u30af\u30eb\u30fc\u30ba\u8239\u72ec\u5360\r\n \u251c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2524\r\n \u2502 4. \u653f\u5e9c\u30fb\u9632\u885b\u7279\u5316 (Starshield)                          \u2502 \u2500\u2500 \u6697\u53f7\u5316\u30fb\u30ea\u30a2\u30eb\u30bf\u30a4\u30e0\u5730\u7403\u89b3\u6e2c\uff08\u6700\u9ad8\u7c97\u5229\uff09\r\n \u251c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2524\r\n \u2502 5. \u30b9\u30de\u30db\u76f4\u63a5\u63a5\u7d9a (Direct to Cell)                    \u2502 \u2500\u2500 \u30ad\u30e3\u30ea\u30a2\u9023\u643a\uff08KDDI\u3001T-Mobile\u7b49\uff09\u300c\u570f\u5916\u30bc\u30ed\u300d\r\n \u2514\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2518\r\n<\/span><\/code><\/pre>\n<\/div>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<p><\/code-block><\/response-element><\/h1>\n<ul data-path-to-node=\"25\">\n<li>\n<p data-path-to-node=\"25,0,0\"><b data-path-to-node=\"25,0,0\" data-index-in-node=\"0\">\u79fb\u52d5\u4f53\u901a\u4fe1\uff08Maritime &amp; Aviation\uff09\u306e\u6025\u62e1\u5927<\/b><\/p>\n<p data-path-to-node=\"25,0,1\">\u30cf\u30ef\u30a4\u30a2\u30f3\u822a\u7a7a\u3084\u30ab\u30bf\u30fc\u30eb\u822a\u7a7a\u3001\u4e16\u754c\u5927\u624b\u6d77\u904b\u4f1a\u793e\u306e\u5927\u578b\u8239\u8236\u3078\u5c55\u958b\u3002\u5f93\u6765\u306eGEO\uff08\u9759\u6b62\u885b\u661f\uff09\u901a\u4fe1\uff08Viasat\u7b49\uff09\u306e\u6570\u5341\u500d\u306e\u901f\u5ea6\u3092\u6570\u5206\u306e\u4e00\u306e\u4fa1\u683c\u3067\u63d0\u4f9b\u3057\u3001\u5e02\u5834\u3092\u4e00\u6c17\u306b\u5236\u5727\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"25,1,0\"><b data-path-to-node=\"25,1,0\" data-index-in-node=\"0\">Starshield\uff08\u30b9\u30bf\u30fc\u30b7\u30fc\u30eb\u30c9\uff09\u306e\u8ecd\u4e8b\u7684\u30a4\u30f3\u30d1\u30af\u30c8<\/b><\/p>\n<p data-path-to-node=\"25,1,1\">\u7c73\u56fd\u9632\u7dcf\u7701\uff08\u30da\u30f3\u30bf\u30b4\u30f3\uff09\u7b49\u3092\u4e3b\u8981\u9867\u5ba2\u3068\u3057\u3001\u6226\u5834\u306b\u304a\u3051\u308b\u30ea\u30a2\u30eb\u30bf\u30a4\u30e0\u6697\u53f7\u5316\u901a\u4fe1\u30fb\u753b\u50cf\u30c7\u30fc\u30bf\u4f1d\u9001\u30fb\u30df\u30b5\u30a4\u30eb\u8ffd\u5c3e\u30a4\u30f3\u30d5\u30e9\u3068\u3057\u3066\u63a1\u7528\u3055\u308c\u3001\u8d85\u30fb\u9ad8\u5229\u76ca\u7387\u3092\u3082\u305f\u3089\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<\/li>\n<\/ul>\n<h3 data-path-to-node=\"26\">2.2 \u52a0\u5165\u8005\u6570\u63a8\u79fb\u3068ARPU\uff081\u30e6\u30fc\u30b6\u30fc\u3042\u305f\u308a\u5e73\u5747\u58f2\u4e0a\uff09\u306e\u52d5\u5411<\/h3>\n<p data-path-to-node=\"27\">Starlink\u306e\u30a2\u30af\u30c6\u30a3\u30d6\u30e6\u30fc\u30b6\u30fc\u6570\u306f\u901a\u4fe1\u53f2\u4e0a\u306b\u6b8b\u308b\u30da\u30fc\u30b9\u3067\u6025\u5897\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<table data-path-to-node=\"28\">\n<thead>\n<tr>\n<td><strong>\u5e74\u6708<\/strong><\/td>\n<td><strong>\u30b0\u30ed\u30fc\u30d0\u30eb\u30a2\u30af\u30c6\u30a3\u30d6\u52a0\u5165\u8005\u6570<\/strong><\/td>\n<td><strong>\u30c8\u30d4\u30c3\u30af\u30fb\u4e8b\u696d\u30d5\u30a7\u30fc\u30ba<\/strong><\/td>\n<td><strong>\u5e73\u5747\u6708\u984d\u5358\u4fa1\uff08ARPU\uff09<\/strong><\/td>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><span data-path-to-node=\"28,1,0,0\"><b data-path-to-node=\"28,1,0,0\" data-index-in-node=\"0\">2021\u5e7412\u6708<\/b><\/span><\/td>\n<td><span data-path-to-node=\"28,1,1,0\">\u7d0414\u4e07\u4ef6<\/span><\/td>\n<td><span data-path-to-node=\"28,1,2,0\">\u5317\u7c73\u3067\u306e\u30aa\u30fc\u30d7\u30f3\u30d9\u30fc\u30bf\u30c6\u30b9\u30c8\u958b\u59cb<\/span><\/td>\n<td><span data-path-to-node=\"28,1,3,0\">~$110<\/span><\/td>\n<\/tr>\n<tr>\n<td><span data-path-to-node=\"28,2,0,0\"><b data-path-to-node=\"28,2,0,0\" data-index-in-node=\"0\">2022\u5e7412\u6708<\/b><\/span><\/td>\n<td><span data-path-to-node=\"28,2,1,0\">\u7d04100\u4e07\u4ef6<\/span><\/td>\n<td><span data-path-to-node=\"28,2,2,0\">\u5730\u653f\u5b66\u7684\u30ea\u30b9\u30af\uff08\u30a6\u30af\u30e9\u30a4\u30ca\u7b49\uff09\u3067\u306e\u5b9f\u6226\u6295\u5165<\/span><\/td>\n<td><span data-path-to-node=\"28,2,3,0\">~$100<\/span><\/td>\n<\/tr>\n<tr>\n<td><span data-path-to-node=\"28,3,0,0\"><b data-path-to-node=\"28,3,0,0\" data-index-in-node=\"0\">2023\u5e7412\u6708<\/b><\/span><\/td>\n<td><span data-path-to-node=\"28,3,1,0\">\u7d04230\u4e07\u4ef6<\/span><\/td>\n<td><span data-path-to-node=\"28,3,2,0\">\u6771\u5357\u30a2\u30b8\u30a2\u30fb\u4e2d\u5357\u7c73\u7b49\u3078\u306e\u4e16\u754c\u5c55\u958b<\/span><\/td>\n<td><span data-path-to-node=\"28,3,3,0\">~$90<\/span><\/td>\n<\/tr>\n<tr>\n<td><span data-path-to-node=\"28,4,0,0\"><b data-path-to-node=\"28,4,0,0\" data-index-in-node=\"0\">2024\u5e7412\u6708<\/b><\/span><\/td>\n<td><span data-path-to-node=\"28,4,1,0\">\u7d04440\u4e07\u4ef6<\/span><\/td>\n<td><span data-path-to-node=\"28,4,2,0\">\u822a\u7a7a\u30fb\u6d77\u904b\u7b49\u306eB2B\u7372\u5f97\u672c\u683c\u5316<\/span><\/td>\n<td><span data-path-to-node=\"28,4,3,0\">~$78<\/span><\/td>\n<\/tr>\n<tr>\n<td><span data-path-to-node=\"28,5,0,0\"><b data-path-to-node=\"28,5,0,0\" data-index-in-node=\"0\">2025\u5e7412\u6708<\/b><\/span><\/td>\n<td><span data-path-to-node=\"28,5,1,0\">\u7d04890\u4e07\u4ef6<\/span><\/td>\n<td><span data-path-to-node=\"28,5,2,0\">\u5168\u4e16\u754c100\u30ab\u56fd\u4ee5\u4e0a\u3078\u53c2\u5165\u3001\u5358\u4f53\u9ed2\u5b57\u5b9a\u7740<\/span><\/td>\n<td><span data-path-to-node=\"28,5,3,0\">~$70<\/span><\/td>\n<\/tr>\n<tr>\n<td><span data-path-to-node=\"28,6,0,0\"><b data-path-to-node=\"28,6,0,0\" data-index-in-node=\"0\">2026\u5e746\u6708<\/b><\/span><\/td>\n<td><span data-path-to-node=\"28,6,1,0\"><b data-path-to-node=\"28,6,1,0\" data-index-in-node=\"0\">1,200\u4e07\u4ef6\u7a81\u7834<\/b><\/span><\/td>\n<td><span data-path-to-node=\"28,6,2,0\">\u4e0a\u5834\u6642\u306e\u4e3b\u8981\u6307\u6a19\u3002Direct to Cell\u5546\u7528\u5316<\/span><\/td>\n<td><span data-path-to-node=\"28,6,3,0\"><b data-path-to-node=\"28,6,3,0\" data-index-in-node=\"0\">~$65\u301c$66<\/b><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h4 data-path-to-node=\"29\">ARPU\u4f4e\u4e0b\u306e\u80cc\u666f\u3068\u53ce\u76ca\u306e\u8cea\uff08Quality of Earnings\uff09<\/h4>\n<p data-path-to-node=\"30\">\u65b0\u8208\u56fd\uff08\u30a2\u30d5\u30ea\u30ab\u3001\u5357\u7c73\u3001\u6771\u5357\u30a2\u30b8\u30a2\uff09\u3067\u306e\u30b7\u30a7\u30a2\u62e1\u5927\u306b\u4f34\u3044\u3001\u73fe\u5730\u8abf\u9054\u529b\u306b\u5fdc\u3058\u305f\u5730\u57df\u5225\u8cfc\u8cb7\u529b\u4fa1\u683c\uff08Purchasing Power Pricing\uff09\u3092\u5c0e\u5165\u3057\u305f\u305f\u3081\u3001\u5168\u4f53\u3068\u3057\u3066\u306eARPU\u306f\u4f4e\u4e0b\u50be\u5411\u306b\u3042\u308a\u307e\u3059\u3002\u3057\u304b\u3057\u3001B2B\u30fbStarshield\u306e\u6025\u6210\u9577\u304c\u7c97\u5229\u76ca\u984d\u5168\u4f53\u306e\u6210\u9577\u3092\u5f37\u56fa\u306b\u652f\u3048\u3066\u3044\u307e\u3059\u3002<\/p>\n<div class=\"xcd-attention-6 xcd-col5 xcd-ripple\">\n<div class=\"xcd-title-wrap\">\n<div class=\"xcd-title\"><span>\u3042\u306a\u305f\u306b\u672c\u5f53\u306b\u9069\u3057\u305f\u6295\u8cc7\u306f\u3069\u308c\uff1f<\/span><\/div>\n<\/div>\n<div class=\"xcd-content\">\n<p><span style=\"font-size: 12pt;\"><strong>\u30fb\u6295\u8cc7\u3067\u53ce\u5165\u3092\u5f97\u305f\u3044\u3001\u8cc7\u7523\u3092\u5897\u3084\u3057\u305f\u3044\u3000YES or NO<\/strong><\/span><br \/>\n<span style=\"font-size: 12pt;\"><strong>\u30fb\u30ea\u30b9\u30af\u306f\u3067\u304d\u308b\u3060\u3051\u6291\u3048\u305f\u3044\u3000YES or NO<\/strong><\/span><br \/>\n<span style=\"font-size: 12pt;\"><strong>\u30fb\u6295\u8cc7\u5148\u306e\u898b\u6975\u3081\u65b9\u3092\u77e5\u308a\u305f\u3044\u3000YES or NO<\/strong><\/span><br \/>\n<span style=\"font-size: 12pt;\"><strong>\u30fb\u6210\u529f\u3057\u3066\u3044\u308b\u6295\u8cc7\u5bb6\u3068\u63a5\u70b9\u304c\u6b32\u3057\u3044\u3000YES or NO<\/strong><\/span><br \/>\n<span style=\"font-size: 12pt;\"><strong>\u30fb\u7269\u4fa1\u4e0a\u6607\u3078\u306e\u5bfe\u7b56\u306b\u306f\u6295\u8cc7\u304c\u5fc5\u8981\u3068\u8003\u3048\u3066\u3044\u308b\u3000YES or NO<\/strong><\/span><\/p>\n<p><span style=\"font-size: 14pt;\"><a href=\"https:\/\/toushi-up.com\/ow\/05.html?argument=XJhet6w1&amp;dmai=a64e31f9ee75a0\"><strong>\u2192\u3000YES\u304c\uff13\u3064\u4ee5\u4e0a\u3060\u3063\u305f\u65b9\u306f\u3001\u3053\u3061\u3089\u3092\u30af\u30ea\u30c3\u30af<\/strong><\/a><\/span><\/p>\n<\/div>\n<\/div>\n<h2 data-path-to-node=\"32\">\u7b2c3\u7ae0\uff1a\u7af6\u5408\u4ed6\u793e\u3068\u306e\u69cb\u9020\u6bd4\u8f03 \u2014 \u306a\u305c\u300c\u4e00\u5f37\u300d\u304c\u7d9a\u304f\u306e\u304b\uff1f<\/h2>\n<p data-path-to-node=\"33\">\u5b87\u5b99\u7523\u696d\u306b\u304a\u3051\u308b\u7af6\u5408\u30d7\u30ec\u30a4\u30e4\u30fc\u3092\u591a\u89d2\u7684\u306b\u6bd4\u8f03\u3057\u3001SpaceX\u306e\u4fdd\u6301\u3059\u308b\u300c\u30e2\u30fc\u30c8\uff08MOAT\uff1a\u7af6\u5408\u512a\u4f4d\u6027\u306e\u5800\uff09\u300d\u3092\u5206\u6790\u3057\u307e\u3059\u3002<\/p>\n<h3 data-path-to-node=\"34\">3.1 \u4e3b\u8981\u7af6\u5408\u6bd4\u8f03\u30de\u30c8\u30ea\u30af\u30b9<\/h3>\n<table data-path-to-node=\"35\">\n<thead>\n<tr>\n<td><strong>\u4f01\u696d\u30fb\u30d7\u30ed\u30b8\u30a7\u30af\u30c8<\/strong><\/td>\n<td><strong>\u4e3b\u306a\u7279\u5fb4\u30fb\u30a2\u30d7\u30ed\u30fc\u30c1<\/strong><\/td>\n<td><strong>\u4e3b\u306a\u5f31\u70b9\u30fb\u8ab2\u984c<\/strong><\/td>\n<td><strong>SpaceX\uff08SPCX\uff09\u306b\u5bfe\u3059\u308b\u7acb\u3061\u4f4d\u7f6e<\/strong><\/td>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><span data-path-to-node=\"35,1,0,0\"><b data-path-to-node=\"35,1,0,0\" data-index-in-node=\"0\">SpaceX<\/b><\/span><\/td>\n<td><span data-path-to-node=\"35,1,1,0\">\u5927\u578b\u518d\u5229\u7528\u30ed\u30b1\u30c3\u30c8 \uff0b LEO\u5927\u898f\u6a21\u901a\u4fe1\u7db2 \uff0b AI\u7d71\u5408<\/span><\/td>\n<td><span data-path-to-node=\"35,1,2,0\">\u9ad8\u3044\u671f\u5f85\u5024\u3086\u3048\u306e\u904e\u71b1\u611f\u3001\u77ed\u671f\u7684\u898f\u5236\u30ea\u30b9\u30af<\/span><\/td>\n<td><span data-path-to-node=\"35,1,3,0\"><b data-path-to-node=\"35,1,3,0\" data-index-in-node=\"0\">\u5b87\u5b99\u7d4c\u6e08\u570f\u306e\u7d76\u5bfe\u7684\u30d7\u30e9\u30c3\u30c8\u30d5\u30a9\u30fc\u30de\u30fc<\/b><\/span><\/td>\n<\/tr>\n<tr>\n<td><span data-path-to-node=\"35,2,0,0\"><b data-path-to-node=\"35,2,0,0\" data-index-in-node=\"0\">Rocket Lab<\/b> (RKLB)<\/span><\/td>\n<td><span data-path-to-node=\"35,2,1,0\">\u5c0f\u578b\u30ed\u30b1\u30c3\u30c8\u300cElectron\u300d\u3001\u5b87\u5b99\u69cb\u9020\u4f53\u88fd\u9020<\/span><\/td>\n<td><span data-path-to-node=\"35,2,2,0\">\u4e2d\u578b\u30ed\u30b1\u30c3\u30c8\u300cNeutron\u300d\u958b\u767a\u306e\u9045\u308c\u3001\u8cc7\u672c\u529b<\/span><\/td>\n<td><span data-path-to-node=\"35,2,3,0\">\u5c0f\u578b\u6253\u3061\u4e0a\u3052\u30fb\u30b3\u30f3\u30dd\u30fc\u30cd\u30f3\u30c8\u5e02\u5834\u3067\u306e\u7af6\u5408<\/span><\/td>\n<\/tr>\n<tr>\n<td><span data-path-to-node=\"35,3,0,0\"><b data-path-to-node=\"35,3,0,0\" data-index-in-node=\"0\">Blue Origin<\/b> (\u672a\u4e0a\u5834)<\/span><\/td>\n<td><span data-path-to-node=\"35,3,1,0\">Amazon\u5275\u696d\u8005\u30b8\u30a7\u30d5\u30fb\u30d9\u30be\u30b9\u6c0f\u306b\u3088\u308b\u8cc7\u91d1\u529b<\/span><\/td>\n<td><span data-path-to-node=\"35,3,2,0\">\u5546\u696d\u8ecc\u9053\u6295\u5165\u5b9f\u7e3e\u306e\u5727\u5012\u7684\u4e0d\u8db3\u3001\u9045\u3044\u958b\u767a\u30b9\u30d4\u30fc\u30c9<\/span><\/td>\n<td><span data-path-to-node=\"35,3,3,0\">\u8cc7\u672c\u529b\u3092\u80cc\u666f\u3068\u3057\u305f\u5c06\u6765\u7684\u306a\u9577\u671f\u7684\u30e9\u30a4\u30d0\u30eb<\/span><\/td>\n<\/tr>\n<tr>\n<td><span data-path-to-node=\"35,4,0,0\"><b data-path-to-node=\"35,4,0,0\" data-index-in-node=\"0\">Project Kuiper<\/b> (Amazon)<\/span><\/td>\n<td><span data-path-to-node=\"35,4,1,0\">Amazon\u306e\u30af\u30e9\u30a6\u30c9\uff08AWS\uff09\u3068EC\u7db2\u3092\u6d3b\u7528\u3057\u305f\u885b\u661f\u901a\u4fe1<\/span><\/td>\n<td><span data-path-to-node=\"35,4,2,0\">\u81ea\u793e\u30ed\u30b1\u30c3\u30c8\u3092\u6301\u305f\u305a\u3001\u6253\u3061\u4e0a\u3052\u3092\u4ed6\u793e\u3078\u4f9d\u5b58<\/span><\/td>\n<td><span data-path-to-node=\"35,4,3,0\">\u901a\u4fe1\u5206\u91ce\u306b\u304a\u3051\u308b\u8ffd\u968f\u30d7\u30ec\u30a4\u30e4\u30fc<\/span><\/td>\n<\/tr>\n<tr>\n<td><span data-path-to-node=\"35,5,0,0\"><b data-path-to-node=\"35,5,0,0\" data-index-in-node=\"0\">ULA<\/b> (Boeing\/Lockheed)<\/span><\/td>\n<td><span data-path-to-node=\"35,5,1,0\">\u7c73\u56fd\u653f\u5e9c\u30fb\u56fd\u9632\u7dcf\u7701\u3068\u306e\u5f37\u56fa\u306a\u30ea\u30ec\u30fc\u30b7\u30e7\u30f3<\/span><\/td>\n<td><span data-path-to-node=\"35,5,2,0\">\u6253\u3061\u4e0a\u3052\u30b3\u30b9\u30c8\u304c\u9ad8\u304f\u3001\u518d\u5229\u7528\u6280\u8853\u306710\u5e74\u9045\u5ef6<\/span><\/td>\n<td><span data-path-to-node=\"35,5,3,0\">\u5f93\u6765\u578b\u306e\u653f\u5e9c\u4e88\u7b97\u4f9d\u5b58\u30d7\u30ec\u30a4\u30e4\u30fc<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3 data-path-to-node=\"36\">3.2 \u69cb\u9020\u7684\u7af6\u4e89\u512a\u4f4d\u6027\uff08The Moat\uff09\u306e3\u5927\u8981\u7d20<\/h3>\n<ol start=\"1\" data-path-to-node=\"37\">\n<li>\n<p data-path-to-node=\"37,0,0\"><b data-path-to-node=\"37,0,0\" data-index-in-node=\"0\">\u5185\u88fd\u5316\u738790%\u4ee5\u4e0a\u306e\u5782\u76f4\u7d71\u5408\uff08Vertical Integration\uff09<\/b><\/p>\n<p data-path-to-node=\"37,0,1\">\u30a8\u30f3\u30b8\u30f3\uff08Raptor\uff09\u3001\u6a5f\u4f53\u3001\u30a2\u30d3\u30aa\u30cb\u30af\u30b9\u3001\u901a\u4fe1\u30a2\u30f3\u30c6\u30ca\u7aef\u672b\u307e\u3067\u3092\u81ea\u793e\u5de5\u5834\u3067\u88fd\u9020\u3002\u30b5\u30d7\u30e9\u30a4\u30c1\u30a7\u30fc\u30f3\u306e\u30dc\u30c8\u30eb\u30cd\u30c3\u30af\u3092\u6392\u9664\u3057\u3001\u30a4\u30ce\u30d9\u30fc\u30b7\u30e7\u30f3\u306e\u30a4\u30c6\u30ec\u30fc\u30b7\u30e7\u30f3\uff08\u53cd\u5fa9\u958b\u767a\uff09\u901f\u5ea6\u3092\u4ed6\u793e\u306e5\u301c10\u500d\u306b\u9ad8\u3081\u3066\u3044\u307e\u3059\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"37,1,0\"><b data-path-to-node=\"37,1,0\" data-index-in-node=\"0\">\u30d9\u30fc\u30b9\u30ed\u30fc\u30c9\u9700\u8981\u306e\u81ea\u7d66\u81ea\u8db3\uff08Internal Demand\uff09<\/b><\/p>\n<p data-path-to-node=\"37,1,1\">\u4ed6\u793e\u306e\u6253\u3061\u4e0a\u3052\u4f1a\u793e\u306f\u5916\u90e8\u306e\u5546\u696d\u6ce8\u6587\u304c\u306a\u3044\u3068\u767a\u5c04\u53f0\u3084\u5de5\u5834\u306e\u7a3c\u50cd\u7387\u304c\u843d\u3061\u307e\u3059\u3002\u4e00\u65b9SpaceX\u306f\u3001\u5916\u90e8\u6ce8\u6587\u304c\u306a\u3044\u671f\u9593\u3082\u81ea\u793e\u306eStarlink\u885b\u661f\u3092\u6253\u3061\u4e0a\u3052\u308b\u3053\u3068\u3067\u3001\u5e38\u306b\u5de5\u5834\u30fb\u8a2d\u5099\u7a3c\u50cd\u7387\u3092100%\u8fd1\u304f\u306b\u7dad\u6301\u3067\u304d\u307e\u3059\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"37,2,0\"><b data-path-to-node=\"37,2,0\" data-index-in-node=\"0\">\u8ecc\u9053\u5468\u6ce2\u6570\u3068\u8ecc\u9053\u30b9\u30ed\u30c3\u30c8\u306e\u5148\u5360\u6a29<\/b><\/p>\n<p data-path-to-node=\"37,2,1\">\u4f4e\u8ecc\u9053\uff08LEO\uff09\u306b\u3059\u3067\u306b10,000\u6a5f\u4ee5\u4e0a\u306e\u885b\u661f\u3092\u904b\u7528\u3057\u3066\u304a\u308a\u3001\u56fd\u969b\u96fb\u6c17\u901a\u4fe1\u9023\u5408\uff08ITU\uff09\u3084\u7c73\u56fd\u9023\u90a6\u901a\u4fe1\u59d4\u54e1\u4f1a\uff08FCC\uff09\u306b\u304a\u3051\u308b\u5468\u6ce2\u6570\u5e2f\u3068\u8ecc\u9053\u914d\u7f6e\u306e\u512a\u5148\u6a29\u3092\u7269\u7406\u7684\u306b\u78ba\u4fdd\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<\/li>\n<\/ol>\n<h2 data-path-to-node=\"39\">\u7b2c4\u7ae0\uff1a\u682a\u5f0f\u5e02\u5834\uff08SPCX\uff09\u306b\u304a\u3051\u308b\u7acb\u3061\u4f4d\u7f6e\u30fb\u8ca1\u52d9\u52d5\u5411\u30fb\u682a\u4fa1\u5c55\u671b<\/h2>\n<p data-path-to-node=\"40\">2026\u5e746\u6708\u306eNASDAQ\u4e0a\u5834\u4ee5\u964d\u306e\u5e02\u5834\u30c7\u30fc\u30bf\u306b\u57fa\u3065\u304d\u3001\u682a\u4fa1\u306e\u73fe\u72b6\u3068\u4eca\u5f8c\u306e\u30b7\u30ca\u30ea\u30aa\u3092\u691c\u8a3c\u3057\u307e\u3059\u3002<\/p>\n<h1 data-path-to-node=\"0\"><response-element class=\"\" ng-version=\"0.0.0-PLACEHOLDER\"><code-block _nghost-ng-c3591150031=\"\" class=\"ng-tns-c3591150031-379 enable-luminous-code-block ng-star-inserted\"><\/p>\n<div _ngcontent-ng-c3591150031=\"\" class=\"code-block ng-tns-c3591150031-379 ng-animate-disabled ng-trigger ng-trigger-codeBlockRevealAnimation\" jslog=\"223238;track:impression,attention;BardVeMetadataKey:[[&quot;r_eb3ad005d357ee46&quot;,&quot;c_a07d3f5d0f229134&quot;,null,&quot;rc_4776b82a9d607f82&quot;,null,null,&quot;ja&quot;,null,1,null,null,1,0]]\">\n<div _ngcontent-ng-c3591150031=\"\" class=\"formatted-code-block-internal-container ng-tns-c3591150031-379\">\n<div _ngcontent-ng-c3591150031=\"\" class=\"animated-opacity ng-tns-c3591150031-379\">\n<pre _ngcontent-ng-c3591150031=\"\" class=\"ng-tns-c3591150031-379\"><code _ngcontent-ng-c3591150031=\"\" role=\"text\" data-test-id=\"code-content\" class=\"code-container formatted ng-tns-c3591150031-379 no-decoration-radius\"><span style=\"font-size: 14pt;\">\u3010SPCX \u682a\u4fa1\u30c1\u30e3\u30fc\u30c8\u30fb\u63a8\u79fb\u306e\u6982\u5ff5\u56f3\u3011\r\n\r\n (\u682a\u4fa1)\r\n 225\u30c9\u30eb \u2500\u2500\u2510 (\u4e0a\u5834\u76f4\u5f8c\u306e\u904e\u71b1\u611f\u30fb\u6700\u9ad8\u5024)\r\n    \u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000      \u2502\r\n 161\u30c9\u30eb \u2500\u253c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2510 (\u521d\u65e5\u7d42\u5024)\r\n     \u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000     \u2502       \u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u2502\r\n 135\u30c9\u30eb \u2500\u253c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u253c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2510 (\u516c\u958b\u4fa1\u683c)\r\n       \u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000   \u2502      \u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000 \u2502      \u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000 \u2502\r\n 115\u30c9\u30eb \u2500\u2534\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2534\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2534\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500 (\u30ed\u30c3\u30af\u30a2\u30c3\u30d7\u89e3\u9664\u61f8\u5ff5\u30fb\u77ed\u671f\u8abf\u6574\u5c40\u9762)\r\n\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\r\n  2026\/06\/12      06\/16   07\/15      07\/24 (\u73fe\u5728)\r\n<\/span><\/code><\/pre>\n<\/div>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<p><\/code-block><\/response-element><\/h1>\n<h3 data-path-to-node=\"42\">4.1 \u4e0a\u5834\uff08IPO\uff09\u5b9f\u7e3e\u3068\u8db3\u5143\u306e\u682a\u4fa1\u63a8\u79fb<\/h3>\n<ul data-path-to-node=\"43\">\n<li>\n<p data-path-to-node=\"43,0,0\" id=\"p-rc_4776b82a9d607f82-470\"><span class=\"citation-1002\"><\/span><b data-path-to-node=\"43,0,0\" data-index-in-node=\"0\"><span class=\"citation-1002\">IPO\u516c\u958b\u4fa1\u683c<\/span><\/b><span class=\"citation-1002 citation-end-1002\">:<source-footnote ng-version=\"0.0.0-PLACEHOLDER\" _nghost-ng-c3417368637=\"\"><sup _ngcontent-ng-c3417368637=\"\" class=\"superscript\" data-turn-source-index=\"6\"><\/sup><\/source-footnote><\/span> <span class=\"citation-1001\">1\u682a\u5f53\u305f\u308a <\/span><b data-path-to-node=\"43,0,0\" data-index-in-node=\"15\"><span class=\"citation-1001 citation-end-1001\">135\u30c9\u30eb<source-footnote ng-version=\"0.0.0-PLACEHOLDER\" _nghost-ng-c3417368637=\"\"><sup _ngcontent-ng-c3417368637=\"\" class=\"superscript\" data-turn-source-index=\"7\"><\/sup><\/source-footnote><\/span><\/b><sources-carousel-inline ng-version=\"0.0.0-PLACEHOLDER\" _nghost-ng-c567799229=\"\"><source-inline-chip _ngcontent-ng-c567799229=\"\" _nghost-ng-c434047400=\"\" class=\"ng-star-inserted\"><\/source-inline-chip><\/sources-carousel-inline><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"43,1,0\" id=\"p-rc_4776b82a9d607f82-471\"><b data-path-to-node=\"43,1,0\" data-index-in-node=\"0\">\u8abf\u9054\u984d \/ \u4e0a\u5834\u6642\u8a55\u4fa1\u984d<\/b>: <span class=\"citation-1000\">750\u5104\u30c9\u30eb\u8abf\u9054 \/ \u6642\u4fa1\u7dcf\u984d <\/span><b data-path-to-node=\"43,1,0\" data-index-in-node=\"30\"><span class=\"citation-1000 citation-end-1000\">1.77\u5146\u30c9\u30eb<source-footnote ng-version=\"0.0.0-PLACEHOLDER\" _nghost-ng-c3417368637=\"\"><sup _ngcontent-ng-c3417368637=\"\" class=\"superscript\" data-turn-source-index=\"8\"><\/sup><\/source-footnote><\/span><\/b><sources-carousel-inline ng-version=\"0.0.0-PLACEHOLDER\" _nghost-ng-c567799229=\"\"><source-inline-chip _ngcontent-ng-c567799229=\"\" _nghost-ng-c434047400=\"\" class=\"ng-star-inserted\"><\/source-inline-chip><\/sources-carousel-inline><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"43,2,0\"><b data-path-to-node=\"43,2,0\" data-index-in-node=\"0\">\u6700\u9ad8\u5024<\/b>: 2026\u5e746\u6708\u4e2d\u65ec\u306b\u6700\u9ad8\u5024 <b data-path-to-node=\"43,2,0\" data-index-in-node=\"19\">225.64\u30c9\u30eb<\/b> \u3092\u8a18\u9332<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"43,3,0\"><b data-path-to-node=\"43,3,0\" data-index-in-node=\"0\">\u8db3\u5143\u306e\u682a\u4fa1\u63a8\u79fb<\/b>: \u4e0a\u5834\u304b\u3089\u7d041\u30f6\u6708\u534a\u304c\u7d4c\u904e\u3057\u305f\u73fe\u5728\u3001\u521d\u671fVC\u3084\u30d7\u30ecIPO\u6295\u8cc7\u5bb6\u306e\u30ed\u30c3\u30af\u30a2\u30c3\u30d7\u89e3\u9664\uff08\u58f2\u5374\u89e3\u7981\uff09\u3078\u306e\u8b66\u6212\u611f\u3001\u304a\u3088\u3073\u30cf\u30a4\u30c6\u30af\u682a\u5168\u4f53\u306e\u8abf\u6574\u5c40\u9762\u306b\u3088\u308a\u3001\u682a\u4fa1\u306f<b data-path-to-node=\"43,3,0\" data-index-in-node=\"82\">115\u301c118\u30c9\u30eb\u4ed8\u8fd1<\/b>\uff08\u6642\u4fa1\u7dcf\u984d\u7d041.55\u5146\u30c9\u30eb\uff09\u3067\u53d6\u5f15\u3055\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n<\/li>\n<\/ul>\n<h3 data-path-to-node=\"44\">4.2 \u8ca1\u52d9\u30cf\u30a4\u30e9\u30a4\u30c8\uff08\u9023\u7d50\u696d\u7e3e\uff09<\/h3>\n<table data-path-to-node=\"45\">\n<thead>\n<tr>\n<td><strong>\u9805\u76ee<\/strong><\/td>\n<td><strong>2024\u5e74\u5b9f\u7e3e<\/strong><\/td>\n<td><strong>2025\u5e74\u5b9f\u7e3e<\/strong><\/td>\n<td><strong>2026\u5e74\u898b\u901a\u3057\/\u30c8\u30ec\u30f3\u30c9<\/strong><\/td>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><span data-path-to-node=\"45,1,0,0\"><b data-path-to-node=\"45,1,0,0\" data-index-in-node=\"0\">\u58f2\u4e0a\u9ad8\uff08Total Revenue\uff09<\/b><\/span><\/td>\n<td><span data-path-to-node=\"45,1,1,0\">~$131\u5104\u30c9\u30eb<\/span><\/td>\n<td><span data-path-to-node=\"45,1,2,0\"><b data-path-to-node=\"45,1,2,0\" data-index-in-node=\"0\">$187\u5104\u30c9\u30eb<\/b>\uff08\u524d\u5e74\u6bd4+43%\uff09<\/span><\/td>\n<td><span data-path-to-node=\"45,1,3,0\"><b data-path-to-node=\"45,1,3,0\" data-index-in-node=\"0\">$250\u5104\u301c$280\u5104\u30c9\u30eb<\/b><\/span><\/td>\n<\/tr>\n<tr>\n<td><span data-path-to-node=\"45,2,0,0\"><b data-path-to-node=\"45,2,0,0\" data-index-in-node=\"0\">\u3046\u3061 Starlink \u30bb\u30b0\u30e1\u30f3\u30c8<\/b><\/span><\/td>\n<td><span data-path-to-node=\"45,2,1,0\">~$77\u5104\u30c9\u30eb<\/span><\/td>\n<td><span data-path-to-node=\"45,2,2,0\"><b data-path-to-node=\"45,2,2,0\" data-index-in-node=\"0\">$114\u5104\u30c9\u30eb<\/b>\uff08\u58f2\u4e0a\u69cb\u6210\u6bd4 61%\uff09<\/span><\/td>\n<td><span data-path-to-node=\"45,2,3,0\"><b data-path-to-node=\"45,2,3,0\" data-index-in-node=\"0\">$155\u5104\u30c9\u30eb\u4ee5\u4e0a<\/b><\/span><\/td>\n<\/tr>\n<tr>\n<td><span data-path-to-node=\"45,3,0,0\"><b data-path-to-node=\"45,3,0,0\" data-index-in-node=\"0\">\u55b6\u696d\u5229\u76ca\uff08Operating Income\uff09<\/b><\/span><\/td>\n<td><span data-path-to-node=\"45,3,1,0\">\u307b\u307c\u30c8\u30f3\u30c8\u30f3<\/span><\/td>\n<td><span data-path-to-node=\"45,3,2,0\"><b data-path-to-node=\"45,3,2,0\" data-index-in-node=\"0\">+$44\u5104\u30c9\u30eb<\/b>\uff08Starlink\u5358\u4f53\uff09<\/span><\/td>\n<td><span data-path-to-node=\"45,3,3,0\">\u9ed2\u5b57\u5e45\u306e\u62e1\u5927\u5c40\u9762<\/span><\/td>\n<\/tr>\n<tr>\n<td><span data-path-to-node=\"45,4,0,0\"><b data-path-to-node=\"45,4,0,0\" data-index-in-node=\"0\">\u7d14\u5229\u76ca\uff08Net Income\uff09<\/b><\/span><\/td>\n<td><span data-path-to-node=\"45,4,1,0\">\u8d64\u5b57\uff08R&amp;D\u5148\u884c\uff09<\/span><\/td>\n<td><span data-path-to-node=\"45,4,2,0\">-$49.4\u5104\u30c9\u30eb\uff08xAI\u7d71\u5408\u30fbStarship\u6295\u8cc7\u7b49\u542b\u3080\uff09<\/span><\/td>\n<td><span data-path-to-node=\"45,4,3,0\">R&amp;D\u6295\u8cc7\u30d4\u30fc\u30af\u306b\u4f34\u3046\u904e\u6e21\u671f<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3 data-path-to-node=\"46\">4.3 \u682a\u4fa1\u6210\u9577\u306e\u30e1\u30a4\u30f3\u30b7\u30ca\u30ea\u30aa\uff08\u30d6\u30eb\u30b1\u30fc\u30b9 vs \u30d9\u30a2\u30b1\u30fc\u30b9\uff09<\/h3>\n<h4 data-path-to-node=\"47\">\u3010\u30d6\u30eb\u30b1\u30fc\u30b9\uff1a5\u5e74\u3067\u6642\u4fa1\u7dcf\u984d3\u5146\u30c9\u30eb\u301c5\u5146\u30c9\u30eb\u3078\u3011<\/h4>\n<ol start=\"1\" data-path-to-node=\"48\">\n<li>\n<p data-path-to-node=\"48,0,0\" id=\"p-rc_4776b82a9d607f82-472\"><b data-path-to-node=\"48,0,0\" data-index-in-node=\"0\">Starship\u306e\u5b8c\u5168\u5546\u696d\u5316<\/b>: <span class=\"citation-999 citation-end-999\">\u6253\u3061\u4e0a\u3052\u539f\u4fa1\u304c\u5287\u7684\u306b\u4f4e\u4e0b\u3057\u3001\u53d7\u8a17\u6253\u3061\u4e0a\u3052\u3068Starlink\u5c55\u958b\u306e\u5229\u76ca\u7387\u304c\u6025\u4e0a\u6607\u3002<source-footnote ng-version=\"0.0.0-PLACEHOLDER\" _nghost-ng-c3417368637=\"\"><sup _ngcontent-ng-c3417368637=\"\" class=\"superscript\" data-turn-source-index=\"9\"><\/sup><\/source-footnote><\/span><sources-carousel-inline ng-version=\"0.0.0-PLACEHOLDER\" _nghost-ng-c567799229=\"\"><source-inline-chip _ngcontent-ng-c567799229=\"\" _nghost-ng-c434047400=\"\" class=\"ng-star-inserted\"><\/source-inline-chip><\/sources-carousel-inline><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"48,1,0\"><b data-path-to-node=\"48,1,0\" data-index-in-node=\"0\">Direct to Cell\u306e\u5168\u4e16\u754c\u666e\u53ca<\/b>: \u65e2\u5b58\u30ad\u30e3\u30ea\u30a2\u3068\u306e\u9023\u643a\u306b\u3088\u308a\u3001\u4e16\u754c\u4e2d\u306e\u30b9\u30de\u30fc\u30c8\u30d5\u30a9\u30f3\u304b\u3089\u5b89\u5b9a\u7684\u306a\u5229\u7528\u6599\u3092\u7372\u5f97\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"48,2,0\"><b data-path-to-node=\"48,2,0\" data-index-in-node=\"0\">\u9632\u885b\uff08Starshield\uff09\uff0b AI\u8ecc\u9053\u30a4\u30f3\u30d5\u30e9\u306e\u6025\u6210\u9577<\/b>: \u7c73\u8ecd\u304a\u3088\u3073\u540c\u76df\u56fd\u304b\u3089\u306e\u9ad8\u5229\u76ca\u7387\u306a\u56fd\u5bb6\u30a4\u30f3\u30d5\u30e9\u53d7\u6ce8\u306e\u72ec\u5360\u3002<\/p>\n<\/li>\n<\/ol>\n<h4 data-path-to-node=\"49\">\u3010\u30d9\u30a2\u30b1\u30fc\u30b9\uff1a\u682a\u4fa1\u306e\u4f4e\u8ff7\u30fb\u8abf\u6574\u30b7\u30ca\u30ea\u30aa\u3011<\/h4>\n<ol start=\"1\" data-path-to-node=\"50\">\n<li>\n<p data-path-to-node=\"50,0,0\"><b data-path-to-node=\"50,0,0\" data-index-in-node=\"0\">\u30ed\u30c3\u30af\u30a2\u30c3\u30d7\u89e3\u9664\u306b\u4f34\u3046\u7d66\u4e0e\u30fbVC\u682a\u5f0f\u306e\u58f2\u308a\u5727\u529b<\/b>: \u30d7\u30ecIPO\u682a\u4e3b\u306b\u3088\u308b\u5927\u91cf\u58f2\u5374\uff08\u9700\u7d66\u306e\u60aa\u5316\uff09\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"50,1,0\" id=\"p-rc_4776b82a9d607f82-473\"><span class=\"citation-998\"><\/span><b data-path-to-node=\"50,1,0\" data-index-in-node=\"0\"><span class=\"citation-998\">Starship\u306e\u958b\u767a\u5931\u6557\u30fb\u5927\u578b\u4e8b\u6545<\/span><\/b><span class=\"citation-998 citation-end-998\">:<source-footnote ng-version=\"0.0.0-PLACEHOLDER\" _nghost-ng-c3417368637=\"\"><sup _ngcontent-ng-c3417368637=\"\" class=\"superscript\" data-turn-source-index=\"10\"><\/sup><\/source-footnote><\/span> \u30c6\u30b9\u30c8\u98db\u884c\u3067\u306e\u91cd\u5927\u30c8\u30e9\u30d6\u30eb\u306b\u3088\u308bNASA\u300c\u30a2\u30eb\u30c6\u30df\u30b9\u8a08\u753b\u300d\u7b49\u306e\u9045\u5ef6\u3002<sources-carousel-inline ng-version=\"0.0.0-PLACEHOLDER\" _nghost-ng-c567799229=\"\"><source-inline-chip _ngcontent-ng-c567799229=\"\" _nghost-ng-c434047400=\"\" class=\"ng-star-inserted\"><\/source-inline-chip><\/sources-carousel-inline><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"50,2,0\"><b data-path-to-node=\"50,2,0\" data-index-in-node=\"0\">\u5468\u6ce2\u6570\u30fb\u30c7\u30d6\u30ea\u898f\u5236\u306e\u5f37\u5316<\/b>: \u8ecc\u9053\u4e0a\u306e\u885b\u661f\u904e\u5bc6\u306b\u5bfe\u3059\u308b\u56fd\u969b\u7684\u306a\u6279\u5224\u3068\u3001\u5404\u56fd\u306e\u901a\u4fe1\u898f\u5236\u3002<\/p>\n<\/li>\n<\/ol>\n<div class=\"xcd-attention-1 xcd-col2 xcd-ripple\">\n<div class=\"xcd-title\"><strong>\u8cc7\u7523\u904b\u7528\u3067\u5931\u6557\u3057\u305f\u304f\u306a\u3044\u65b9\u3078<\/strong><\/div>\n<div class=\"xcd-content\"><strong>\u79c1\u305f\u3061GFS\u3067\u306f\u3001\u5b66\u6821\u3067\u306f\u6559\u3048\u3066\u3082\u3089\u3048\u306a\u304b\u3063\u305f\u304a\u91d1\u306e\u3053\u3068\u304c\u308f\u304b\u308b\u7121\u6599\u30b3\u30f3\u30c6\u30f3\u30c4\u3092\u3054\u7528\u610f\u3057\u3066\u3044\u307e\u3059\u3002<\/strong><br \/>\n<strong><span style=\"color: #0066c0;\"><a href=\"https:\/\/toushi-up.com\/ow\/05.html?utm_source=om&amp;utm_medium=om&amp;utm_content=14519\" style=\"color: #0066c0;\">\u226b \u7121\u6599\u8b1b\u5ea7\uff1a\u304a\u91d1\u306e\u30d7\u30ed\u304c\u6559\u3048\u308b\u300c\u521d\u5fc3\u8005\u304c\u6bce\u6708\u53ce\u5165\u3092\u5f97\u308b\u6295\u8cc7\u306e\u59cb\u3081\u65b9\u300d<\/a><\/span><\/strong><\/div>\n<\/div>\n<h2 data-path-to-node=\"52\">\u7b2c5\u7ae0\uff1a\u95a2\u9023\u9298\u67c4\u304a\u3088\u3073\u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\u3078\u306e\u30a2\u30af\u30bb\u30b9\u6cd5<\/h2>\n<p data-path-to-node=\"53\">\u300cSpaceX\uff08SPCX\uff09\u3078\u76f4\u63a5\u6295\u8cc7\u3057\u305f\u3044\u304c\u3001\u500b\u5225\u682a\u306e\u4e71\u9ad8\u4e0b\u304c\u4e0d\u5b89\u300d\u300c\u5468\u8fba\u306e\u751f\u614b\u7cfb\uff08\u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\uff09\u5168\u4f53\u306b\u6295\u8cc7\u3057\u305f\u3044\u300d\u3068\u3044\u3046\u6295\u8cc7\u5bb6\u5411\u3051\u306b\u3001\u95a2\u9023\u9298\u67c4\u3084\u6295\u8cc7\u624b\u6bb5\u3092\u6574\u7406\u3057\u307e\u3059\u3002<\/p>\n<h3 data-path-to-node=\"54\">5.1 \u76f4\u63a5\u30fb\u9593\u63a5\u7684\u306a\u95a2\u9023\u682a\u5f0f<\/h3>\n<ul data-path-to-node=\"55\">\n<li>\n<p data-path-to-node=\"55,0,0\"><b data-path-to-node=\"55,0,0\" data-index-in-node=\"0\">\u30c6\u30b9\u30e9\uff08Tesla \/ TSLA\uff09<\/b><\/p>\n<p data-path-to-node=\"55,0,1\">CEO\u3092\u517c\u4efb\u3059\u308b\u30a4\u30fc\u30ed\u30f3\u30fb\u30de\u30b9\u30af\u6c0f\u306e\u3082\u3068\u3001\u5148\u9032\u7d20\u6750\uff08\u30b9\u30c6\u30f3\u30ec\u30b9\u5408\u91d1\u7b49\uff09\u3001\u30d0\u30c3\u30c6\u30ea\u30fc\u30d1\u30c3\u30af\u6280\u8853\u3001\u30ae\u30ac\u30d5\u30a1\u30af\u30c8\u30ea\u30fc\u3067\u306e\u5927\u898f\u6a21\u751f\u7523\u30ce\u30a6\u30cf\u30a6\u3001AI\u30a2\u30eb\u30b4\u30ea\u30ba\u30e0\u3092\u76f8\u4e92\u306b\u5171\u6709\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"55,1,0\"><b data-path-to-node=\"55,1,0\" data-index-in-node=\"0\">\u30a2\u30eb\u30d5\u30a1\u30d9\u30c3\u30c8\uff08Alphabet \/ GOOGL\uff09<\/b><\/p>\n<p data-path-to-node=\"55,1,1\">2015\u5e74\u306e\u672a\u4e0a\u5834\u671f\u304b\u3089SpaceX\u306b\u51fa\u8cc7\u3057\u3066\u304d\u305f\u5927\u682a\u4e3b\u306e1\u793e\u3002Google Cloud\u306e\u5730\u4e0a\u30a4\u30f3\u30d5\u30e9\u3068Starlink\u306e\u901a\u4fe1\u7db2\u3092\u9023\u643a\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"55,2,0\"><b data-path-to-node=\"55,2,0\" data-index-in-node=\"0\">\u30ad\u30fc\u30b5\u30d7\u30e9\u30a4\u30e4\u30fc\u30fb\u9632\u885b\u95a2\u9023\u9298\u67c4<\/b><\/p>\n<ul data-path-to-node=\"55,2,1\">\n<li>\n<p data-path-to-node=\"55,2,1,0,0\"><b data-path-to-node=\"55,2,1,0,0\" data-index-in-node=\"0\">TransDigm Group (TDG)<\/b>: \u822a\u7a7a\u5b87\u5b99\u5411\u3051\u9ad8\u7c97\u5229\u30b3\u30f3\u30dd\u30fc\u30cd\u30f3\u30c8\u306e\u4f9b\u7d66\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"55,2,1,1,0\"><b data-path-to-node=\"55,2,1,1,0\" data-index-in-node=\"0\">Iridium Communications (IRDM)<\/b>: \u9759\u6b62\u885b\u661f\u30fb\u4f4e\u8ecc\u9053\u901a\u4fe1\u306e\u65e2\u5b58\u30d7\u30ec\u30a4\u30e4\u30fc\uff08\u696d\u754c\u5185\u7af6\u5408\u30fb\u4e00\u90e8\u5354\u8abf\uff09\u3002<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h3 data-path-to-node=\"56\">5.2 \u5b87\u5b99\u30c6\u30fc\u30de\u578b\u30d5\u30a1\u30f3\u30c9\u30fbETF<\/h3>\n<p data-path-to-node=\"57\">\u500b\u5225\u9298\u67c4\u306e\u30ea\u30b9\u30af\u3092\u5206\u6563\u3057\u306a\u304c\u3089\u5b87\u5b99\u7523\u696d\u5168\u4f53\u306e\u6210\u9577\u3092\u53d6\u308a\u8fbc\u3080\u624b\u6bb5\u3068\u3057\u3066\u3001\u4ee5\u4e0b\u306e\u30d5\u30a1\u30f3\u30c9\u304c\u6319\u3052\u3089\u308c\u307e\u3059\u3002<\/p>\n<ul data-path-to-node=\"58\">\n<li>\n<p data-path-to-node=\"58,0,0\"><b data-path-to-node=\"58,0,0\" data-index-in-node=\"0\">ARK Space Exploration &amp; Innovation ETF (ARKX)<\/b><\/p>\n<p data-path-to-node=\"58,0,1\">\u30a4\u30ce\u30d9\u30fc\u30b7\u30e7\u30f3\u6295\u8cc7\u3067\u77e5\u3089\u308c\u308b\u30ad\u30e3\u30b7\u30fc\u30fb\u30a6\u30c3\u30c9\u6c0f\u7387\u3044\u308bARK Invest\u306e\u5b87\u5b99\u7279\u5316\u578bETF\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"58,1,0\"><b data-path-to-node=\"58,1,0\" data-index-in-node=\"0\">Tema Space Innovators ETF (NASA)<\/b><\/p>\n<p data-path-to-node=\"58,1,1\">\u30ed\u30b1\u30c3\u30c8\u88fd\u9020\u3001\u885b\u661f\u901a\u4fe1\u3001\u5b87\u5b99\u6750\u6599\u6280\u8853\u306b\u7279\u5316\u3057\u305f\u6307\u6570\u8ffd\u5f93\u578b\u30d5\u30a1\u30f3\u30c9\u3002<\/p>\n<\/li>\n<\/ul>\n<h2 data-path-to-node=\"60\">\u7b2c6\u7ae0\uff1a\u5b87\u5b99\u682a\u5f0f\u6295\u8cc7\u3092\u6210\u529f\u3055\u305b\u308b\u300c\u77e5\u8b58\u306e\u4f53\u7cfb\u5316\u300d<\/h2>\n<p data-path-to-node=\"61\">\u5b87\u5b99\u30d3\u30b8\u30cd\u30b9\u3078\u306e\u6295\u8cc7\u306f\u3001\u4e00\u822c\u7684\u306a\u88fd\u9020\u696d\u3084ITSaaS\uff08Software as a Service\uff09\u4f01\u696d\u306e\u6295\u8cc7\u6307\u6a19\u3092\u305d\u306e\u307e\u307e\u9069\u7528\u3059\u308b\u3068\u5931\u6557\u3059\u308b\u5371\u967a\u6027\u304c\u3042\u308a\u307e\u3059\u3002\u52dd\u3064\u305f\u3081\u306b\u4e0d\u53ef\u6b20\u306a3\u3064\u306e\u77e5\u8b58\u9818\u57df\u3092\u6574\u7406\u3057\u307e\u3059\u3002<\/p>\n<h3 data-path-to-node=\"62\">6.1 \u30c6\u30af\u30ce\u30ed\u30b8\u30fc\u6307\u6a19\u306e\u89e3\u8aad\u529b<\/h3>\n<ul data-path-to-node=\"63\">\n<li>\n<p data-path-to-node=\"63,0,0\"><b data-path-to-node=\"63,0,0\" data-index-in-node=\"0\">$\/kg\uff08\u30ad\u30ed\u30b0\u30e9\u30e0\u5f53\u305f\u308a\u6295\u5165\u30b3\u30b9\u30c8\uff09<\/b>: \u5b87\u5b99\u7523\u696d\u306b\u304a\u3051\u308b\u300c\u539f\u4fa1\u300d\u3092\u6c7a\u5b9a\u3065\u3051\u308b\u6700\u91cd\u8981\u57fa\u672c\u6307\u6a19\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"63,1,0\"><b data-path-to-node=\"63,1,0\" data-index-in-node=\"0\">Cadence\uff08\u6253\u3061\u4e0a\u3052\u983b\u5ea6\uff09<\/b>: \u5e74\u9593\u4f55\u56de\u306e\u6253\u3061\u4e0a\u3052\u3092\u884c\u3048\u308b\u304b\u3002\u983b\u5ea6\u306e\u9ad8\u3055\u304c\u56fa\u5b9a\u8cbb\u3092\u8584\u3081\u3001\u7c97\u5229\u7387\u3092\u9ad8\u3081\u308b\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"63,2,0\"><b data-path-to-node=\"63,2,0\" data-index-in-node=\"0\">\u518d\u5229\u7528\u30b5\u30a4\u30af\u30eb\u6570\uff08Fleet Reusability\uff09<\/b>: 1\u6a5f\u306e\u30d6\u30fc\u30b9\u30bf\u30fc\u3092\u4f55\u56de\u6574\u5099\u306a\u3057\uff08\u307e\u305f\u306f\u6700\u5c0f\u6574\u5099\uff09\u3067\u518d\u5229\u7528\u3067\u304d\u308b\u304b\u3002<\/p>\n<\/li>\n<\/ul>\n<h3 data-path-to-node=\"64\">6.2 \u53ce\u76ca\u69cb\u9020\uff08Business Dynamics\uff09\u306e\u6b63\u78ba\u306a\u7406\u89e3<\/h3>\n<h1 data-path-to-node=\"0\"><response-element class=\"\" ng-version=\"0.0.0-PLACEHOLDER\"><code-block _nghost-ng-c3591150031=\"\" class=\"ng-tns-c3591150031-380 enable-luminous-code-block ng-star-inserted\"><\/p>\n<div _ngcontent-ng-c3591150031=\"\" class=\"code-block ng-tns-c3591150031-380 ng-animate-disabled ng-trigger ng-trigger-codeBlockRevealAnimation\" jslog=\"223238;track:impression,attention;BardVeMetadataKey:[[&quot;r_eb3ad005d357ee46&quot;,&quot;c_a07d3f5d0f229134&quot;,null,&quot;rc_4776b82a9d607f82&quot;,null,null,&quot;ja&quot;,null,1,null,null,1,0]]\">\n<div _ngcontent-ng-c3591150031=\"\" class=\"formatted-code-block-internal-container ng-tns-c3591150031-380\">\n<div _ngcontent-ng-c3591150031=\"\" class=\"animated-opacity ng-tns-c3591150031-380\">\n<pre _ngcontent-ng-c3591150031=\"\" class=\"ng-tns-c3591150031-380\"><span style=\"font-size: 14pt;\"><code _ngcontent-ng-c3591150031=\"\" role=\"text\" data-test-id=\"code-content\" class=\"code-container formatted ng-tns-c3591150031-380 no-decoration-radius\"> WEAK\uff08\u8868\u9762\u7684\u306a\u898b\u89e3\uff09   : \u300c\u30ed\u30b1\u30c3\u30c8\u3092\u98db\u3070\u3057\u3066\u904b\u8cc3\u3092\u3082\u3089\u3046\u904b\u9001\u4f1a\u793e\u300d\r\n STRONG\uff08\u672c\u8cea\u7684\u306a\u7406\u89e3\uff09 : \u300c\u5b87\u5b99\u3078\u306e\u683c\u5b89\u8f38\u9001\u30a4\u30f3\u30d5\u30e9\u3092\u30c6\u30b3\u306b\u3001\u5730\u7403\u898f\u6a21\u306e\u901a\u4fe1\u30b5\u30d6\u30b9\u30af\u30ea\u30d7\u30b7\u30e7\u30f3\u3068\r\n                          \u9632\u885b\u30c7\u30fc\u30bf\u30cd\u30c3\u30c8\u30ef\u30fc\u30af\u3092\u652f\u914d\u3059\u308b\u30d7\u30e9\u30c3\u30c8\u30d5\u30a9\u30fc\u30e0\u4f01\u696d\u300d\r\n<\/code><\/span><\/pre>\n<\/div>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<p><\/code-block><\/response-element><\/h1>\n<ul data-path-to-node=\"66\">\n<li>\n<p data-path-to-node=\"66,0,0\">\u8f38\u9001\uff08\u30ed\u30b1\u30c3\u30c8\uff09\u306f\u300c\u539f\u4fa1\u300d\u3001\u901a\u4fe1\uff08Starlink\uff09\u306f\u300c\u5229\u76ca\u6e90\u300d\u3068\u3044\u3046\u4e8c\u9762\u69cb\u9020\u3092\u6349\u3048\u308b\u3053\u3068\u304c\u4e0d\u53ef\u6b20\u3067\u3059\u3002<\/p>\n<\/li>\n<\/ul>\n<h3 data-path-to-node=\"67\">6.3 \u898f\u5236\u30fb\u5730\u653f\u5b66\u30fb\u6642\u9593\u8ef8\u306e\u7ba1\u7406<\/h3>\n<ul data-path-to-node=\"68\">\n<li>\n<p data-path-to-node=\"68,0,0\" id=\"p-rc_4776b82a9d607f82-474\"><b data-path-to-node=\"68,0,0\" data-index-in-node=\"0\">\u5730\u653f\u5b66\u7684\u30ea\u30b9\u30af\u3068\u9632\u885b\u4e88\u7b97<\/b>: <span class=\"citation-997 citation-end-997\">\u6226\u4e89\u3084\u56fd\u969b\u7d1b\u4e89\u306e\u52c3\u767a\u306f\u3001\u6c11\u9593\u901a\u4fe1\u30a4\u30f3\u30d5\u30e9\uff08Starlink\uff09\u3084\u8ecd\u4e8b\u901a\u4fe1\uff08Starshield\uff09\u306e\u9700\u8981\u3092\u6025\u901f\u306b\u8df3\u306d\u4e0a\u3052\u307e\u3059\u3002<source-footnote ng-version=\"0.0.0-PLACEHOLDER\" _nghost-ng-c3417368637=\"\"><sup _ngcontent-ng-c3417368637=\"\" class=\"superscript\" data-turn-source-index=\"11\"><\/sup><\/source-footnote><\/span><sources-carousel-inline ng-version=\"0.0.0-PLACEHOLDER\" _nghost-ng-c567799229=\"\"><source-inline-chip _ngcontent-ng-c567799229=\"\" _nghost-ng-c434047400=\"\" class=\"ng-star-inserted\"><\/source-inline-chip><\/sources-carousel-inline><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"68,1,0\"><b data-path-to-node=\"68,1,0\" data-index-in-node=\"0\">\u8d85\u9577\u671f\u306e\u6642\u9593\u8ef8\uff08Time Horizon\uff09<\/b>: \u5b87\u5b99\u6280\u8853\u958b\u767a\u306b\u306f\u6570\u5e74\u5358\u4f4d\u306e\u8a66\u884c\u932f\u8aa4\u304c\u4f34\u3044\u307e\u3059\u3002\u77ed\u671f\u306e\u6253\u3061\u4e0a\u3052\u5ef6\u671f\u30cb\u30e5\u30fc\u30b9\u306b\u3088\u308b\u4e0b\u843d\u3067\u72fc\u72fd\u58f2\u308a\u305b\u305a\u30015\u5e74\u30fb10\u5e74\u5358\u4f4d\u306e\u69cb\u9020\u5909\u5316\u306b\u6295\u8cc7\u3059\u308b\u59ff\u52e2\u304c\u6c42\u3081\u3089\u308c\u307e\u3059\u3002<\/p>\n<\/li>\n<\/ul>\n<h2 data-path-to-node=\"70\">\u7b2c7\u7ae0\uff1a\u3010\u6295\u8cc7\u5224\u65ad\u3011\u4eca\u3001SpaceX\u682a\uff08SPCX\uff09\u3092\u8cb7\u3046\u3079\u304d\u304b\uff1f<\/h2>\n<h3 data-path-to-node=\"71\">7.1 \u6295\u8cc7\u30b9\u30bf\u30a4\u30eb\u5225\u306e\u7d50\u8ad6<\/h3>\n<h4 data-path-to-node=\"72\">A. \u9577\u671f\u7684\u306a\u6210\u9577\u3092\u72d9\u3046\u300c\u30a4\u30ce\u30d9\u30fc\u30b7\u30e7\u30f3\u6307\u5411\u306e\u9577\u671f\u6295\u8cc7\u5bb6\u300d<\/h4>\n<ul data-path-to-node=\"73\">\n<li>\n<p data-path-to-node=\"73,0,0\"><b data-path-to-node=\"73,0,0\" data-index-in-node=\"0\">\u5224\u65ad<\/b>: <b data-path-to-node=\"73,0,0\" data-index-in-node=\"4\">\u300c\u8cb7\u3044\uff08\u90e8\u5206\u7684\u306a\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u7d44\u307f\u5165\u308c\u63a8\u5968\uff09\u300d<\/b><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"73,1,0\" id=\"p-rc_4776b82a9d607f82-475\"><span class=\"citation-996\"><\/span><b data-path-to-node=\"73,1,0\" data-index-in-node=\"0\"><span class=\"citation-996\">\u30a2\u30af\u30b7\u30e7\u30f3<\/span><\/b><span class=\"citation-996 citation-end-996\">:<source-footnote ng-version=\"0.0.0-PLACEHOLDER\" _nghost-ng-c3417368637=\"\"><sup _ngcontent-ng-c3417368637=\"\" class=\"superscript\" data-turn-source-index=\"12\"><\/sup><\/source-footnote><\/span> \u4e0a\u5834\u76f4\u5f8c\u306e\u9ad8\u5024\uff08225\u30c9\u30eb\uff09\u304b\u3089\u8db3\u5143\u306e115\u301c118\u30c9\u30eb\u4ed8\u8fd1\u307e\u3067\u8abf\u6574\u304c\u9032\u3093\u3067\u304a\u308a\u3001\u9577\u671f\u7684\u30a8\u30f3\u30c8\u30ea\u30fc\u30dd\u30a4\u30f3\u30c8\u3068\u3057\u3066\u9b45\u529b\u7684\u306a\u6c34\u6e96\u306b\u306a\u308a\u3064\u3064\u3042\u308a\u307e\u3059\u3002\u30ed\u30c3\u30af\u30a2\u30c3\u30d7\u89e3\u9664\u306b\u4f34\u3046\u4e00\u6642\u7684\u306a\u9700\u7d66\u60aa\u5316\u306e\u30ea\u30b9\u30af\u3092\u8003\u616e\u3057\u3001\u4e00\u62ec\u8cfc\u5165\u3067\u306f\u306a\u304f\u300c\u30c9\u30eb\u30b3\u30b9\u30c8\u5e73\u5747\u6cd5\uff08\u6642\u9593\u5206\u6563\uff09\u300d\u3067\u6570\u30f6\u6708\u306b\u5206\u3051\u3066\u8cfc\u5165\u3057\u3066\u3044\u304f\u30a2\u30d7\u30ed\u30fc\u30c1\u304c\u6700\u3082\u5b89\u5168\u3067\u3059\u3002<sources-carousel-inline ng-version=\"0.0.0-PLACEHOLDER\" _nghost-ng-c567799229=\"\"><source-inline-chip _ngcontent-ng-c567799229=\"\" _nghost-ng-c434047400=\"\" class=\"ng-star-inserted\"><\/source-inline-chip><\/sources-carousel-inline><\/p>\n<\/li>\n<\/ul>\n<h4 data-path-to-node=\"74\">B. \u77ed\u671f\u5229\u76ca\u3092\u6c42\u3081\u308b\u300c\u30c7\u30a4\u30c8\u30ec\u30fc\u30c0\u30fc\u30fb\u77ed\u671f\u30b9\u30a4\u30f3\u30b0\u6295\u8cc7\u5bb6\u300d<\/h4>\n<ul data-path-to-node=\"75\">\n<li>\n<p data-path-to-node=\"75,0,0\"><b data-path-to-node=\"75,0,0\" data-index-in-node=\"0\">\u5224\u65ad<\/b>: <b data-path-to-node=\"75,0,0\" data-index-in-node=\"4\">\u300c\u614e\u91cd\uff08\u69d8\u5b50\u898b\u63a8\u5968\uff09\u300d<\/b><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"75,1,0\"><b data-path-to-node=\"75,1,0\" data-index-in-node=\"0\">\u7406\u7531<\/b>: \u521d\u671f\u30d7\u30ecIPO\u6295\u8cc7\u5bb6\u306e\u58f2\u5374\u306b\u3088\u308b\u682a\u5f0f\u4f9b\u7d66\u5897\u52a0\uff08\u30ed\u30c3\u30af\u30a2\u30c3\u30d7\u61f8\u5ff5\uff09\u3084\u3001Starship\u5b9f\u9a13\u98db\u884c\u306e\u30cb\u30e5\u30fc\u30b9\u306b\u3088\u308b\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\uff08\u4fa1\u683c\u4e71\u9ad8\u4e0b\uff09\u304c\u5927\u304d\u304f\u3001\u77ed\u671f\u7684\u306b\u306f\u4e0b\u5024\u3092\u6a21\u7d22\u3059\u308b\u5c55\u958b\u304c\u7d9a\u304f\u53ef\u80fd\u6027\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<\/li>\n<\/ul>\n<h4 data-path-to-node=\"76\">C. \u4f4e\u30ea\u30b9\u30af\u30fb\u5b89\u5b9a\u53ce\u76ca\u3092\u6c42\u3081\u308b\u300c\u30a4\u30f3\u30ab\u30e0\u30fb\u9632\u885b\u578b\u6295\u8cc7\u5bb6\u300d<\/h4>\n<ul data-path-to-node=\"77\">\n<li>\n<p data-path-to-node=\"77,0,0\"><b data-path-to-node=\"77,0,0\" data-index-in-node=\"0\">\u5224\u65ad<\/b>: <b data-path-to-node=\"77,0,0\" data-index-in-node=\"4\">\u300c\u898b\u9001\u308a\u3001\u307e\u305f\u306f\u5206\u6563ETF\u3067\u306e\u4fdd\u6709\u300d<\/b><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"77,1,0\"><b data-path-to-node=\"77,1,0\" data-index-in-node=\"0\">\u7406\u7531<\/b>: \u914d\u5f53\u5229\u56de\u308a\u306f\u30bc\u30ed\u3067\u3042\u308a\u3001\u5229\u76ca\u306e\u5927\u90e8\u5206\u3092R&amp;D\uff08\u7814\u7a76\u958b\u767a\uff09\u306b\u518d\u6295\u8cc7\u3059\u308b\u69cb\u9020\u306e\u305f\u3081\u3001\u5b89\u5b9a\u682a\u3092\u6c42\u3081\u308b\u6295\u8cc7\u5bb6\u306b\u306f\u4e0d\u5411\u304d\u3067\u3059\u3002<\/p>\n<\/li>\n<\/ul>\n<h2 data-path-to-node=\"79\">\u7d50\u8ad6<\/h2>\n<p data-path-to-node=\"80\" id=\"p-rc_4776b82a9d607f82-476\"><span class=\"citation-995 citation-end-995\">SpaceX\uff08SPCX\uff09\u306f\u3001\u6c11\u9593\u4f01\u696d\u3068\u3057\u3066\u4eba\u985e\u53f2\u4e0a\u521d\u3081\u3066\u300c\u5b87\u5b99\u3078\u306e\u30a2\u30af\u30bb\u30b9\u300d\u3092\u65e5\u5e38\u5316\u3055\u305b\u3001\u5730\u7403\u898f\u6a21\u306e\u901a\u4fe1\u30a4\u30f3\u30d5\u30e9\u3092\u5857\u308a\u66ff\u3048\u3064\u3064\u3042\u308b\u73fe\u4ee3\u6700\u9ad8\u306e\u30a4\u30ce\u30d9\u30fc\u30b7\u30e7\u30f3\u4f01\u696d\u3067\u3059\u3002<source-footnote ng-version=\"0.0.0-PLACEHOLDER\" _nghost-ng-c3417368637=\"\"><sup _ngcontent-ng-c3417368637=\"\" class=\"superscript\" data-turn-source-index=\"13\"><\/sup><\/source-footnote><\/span><sources-carousel-inline ng-version=\"0.0.0-PLACEHOLDER\" _nghost-ng-c567799229=\"\"><source-inline-chip _ngcontent-ng-c567799229=\"\" _nghost-ng-c434047400=\"\" class=\"ng-star-inserted\"><\/source-inline-chip><\/sources-carousel-inline><\/p>\n<p data-path-to-node=\"81\">\u4e0a\u5834\u76f4\u5f8c\u306e\u682a\u4fa1\u8abf\u6574\u5c40\u9762\u306f\u3001\u77ed\u671f\u7684\u30ea\u30b9\u30af\u3092\u542b\u307f\u3064\u3064\u3082\u3001\u9577\u3044\u5b87\u5b99\u30c7\u30fc\u30bf\u7d4c\u6e08\u306e\u6b74\u53f2\u306b\u304a\u3044\u3066\u306f\u300c\u521d\u671f\u306e\u30a8\u30f3\u30c8\u30ea\u30fc\u6a5f\u4f1a\u300d\u3068\u306a\u308b\u53ef\u80fd\u6027\u3092\u79d8\u3081\u3066\u3044\u307e\u3059\u3002\u4e8b\u696d\u306e\u672c\u8cea\u3001\u6570\u5024\u30c7\u30fc\u30bf\u3001\u6280\u8853\u7684\u512a\u4f4d\u6027\u3092\u6b63\u3057\u304f\u7406\u89e3\u3057\u3001\u3054\u81ea\u8eab\u306e\u6295\u8cc7\u30b9\u30bf\u30a4\u30eb\u306b\u5408\u308f\u305b\u305f\u614e\u91cd\u304b\u3064\u5927\u80c6\u306a\u8cc7\u7523\u914d\u5206\u3092\u884c\u3063\u3066\u304f\u3060\u3055\u3044\u3002<\/p>\n<div><\/div>\n<div class=\"xcd-attention-8 xcd-col5 xcd-ripple\">\n<div class=\"xcd-title\"><span style=\"font-size: 18pt;\">\u30d7\u30ed\u306e\u77e5\u8b58\u304c\u7121\u6599\u3067\u5b66\u3079\u307e\u3059<\/span><\/div>\n<div class=\"xcd-content\">\n<p><span style=\"font-size: 14pt;\"><strong>\u300c\u6295\u8cc7\u306e\u52c9\u5f37\u3092\u4f55\u304b\u3089\u3084\u3063\u3066\u3044\u3044\u304b\u308f\u304b\u3089\u306a\u3044\u300d\u300c\u6295\u8cc7\u3067\u8cc7\u7523\u3092\u4f5c\u308a\u305f\u3044\u3001\u53ce\u5165\u3092\u5897\u3084\u3057\u305f\u3044\u300d<\/strong><\/span><\/p>\n<p>\u305d\u3093\u306a\u6642\u306f<b><span class=\"f-marker-p\">\u7121\u6599\u3067\u8996\u8074\u3067\u304d\u308b\u30aa\u30f3\u30e9\u30a4\u30f3\u8b1b\u5ea7\u300c<a href=\"https:\/\/toushi-up.com\/ow\/05.html?utm_source=article&amp;utm_medium=16989&amp;utm_content=16989\">GFS\u76e3\u4fee \u6295\u8cc7\u306e\u9054\u4eba\u8b1b\u5ea7<\/a>\u300d\u3092\u307e\u305a\u306f\u304a\u8a66\u3057\u3057\u3066\u304f\u3060\u3055\u3044\u3002<\/span><\/b><\/p>\n<p>\u6295\u8cc7\u306e\u9054\u4eba\u306b\u306a\u308b\u6295\u8cc7\u8b1b\u5ea7\u306f\u3001\u751f\u5f92\u657050,000\u4eba\u3092\u8d85\u3048\u8b1b\u7fa9\u6570\u65e5\u672c\u4e00\u306e\u6295\u8cc7\u30b9\u30af\u30fc\u30eb<a href=\"https:\/\/gfs.tokyo\/\">GFS<\/a>\u304c\u63d0\u4f9b\u3059\u308b\u7121\u6599\u30aa\u30f3\u30e9\u30a4\u30f3\u8b1b\u5ea7\u3067\u3059\u3002\u30d7\u30ed\u306e\u6295\u8cc7\u5bb6\u3067\u3042\u308b\u8b1b\u5e2b\u304c\u3001\u672a\u7d4c\u9a13\u8005\u3084\u82e6\u624b\u610f\u8b58\u304c\u3042\u308b\u4eba\u3067\u3082\u5206\u304b\u308b\u3088\u3046\u306b\u3001\u6295\u8cc7\u306e\u4ed5\u7d44\u307f\u3084\u5168\u4f53\u50cf\u3001\u30eb\u30fc\u30eb\u3092\u57fa\u790e\u304b\u3089\u56f3\u89e3\u3092\u4ea4\u3048\u3066\u89e3\u8aac\u3057\u307e\u3059\u3002<\/p>\n<p>\u6295\u8cc7\u306e\u52c9\u5f37\u3092\u306a\u308b\u3079\u304f\u52b9\u7387\u3088\u304f\u59cb\u3081\u305f\u3044\u4eba\u306f\u3001\u305c\u3072\u4e00\u5ea6\u3054\u8996\u8074\u304f\u3060\u3055\u3044\u3002<\/p>\n<div class=\"cv-btn-wrap\">\n<div class=\"cv-copy\" style=\"text-align: center;\"><strong><a href=\"https:\/\/toushi-up.com\/ow\/05.html?utm_source=article&amp;utm_medium=16989&amp;utm_content=16989\">\uff3c1\u5206\u3067\u7c21\u5358\u7533\u8fbc\uff0f<\/a><\/strong><\/div>\n<div class=\"cv-btn\" style=\"text-align: center;\"><strong><span class=\"cv-em\">\u7121\u6599<\/span><\/strong><br \/>\n<strong><span class=\"cv-text\"><a href=\"https:\/\/toushi-up.com\/ow\/05.html?utm_source=article&amp;utm_medium=16989&amp;utm_content=16989\n\">\u30aa\u30f3\u30e9\u30a4\u30f3\u8b1b\u5ea7\u306f\u3053\u3061\u3089<\/a><\/span><\/strong><\/div>\n<\/div>\n<\/div>\n<\/div>\n<h3 data-path-to-node=\"4\">\u3010\u91cd\u8981\u3011\u514d\u8cac\u4e8b\u9805<\/h3>\n<ul data-path-to-node=\"5\">\n<li>\n<p data-path-to-node=\"5,0,0\"><b data-path-to-node=\"5,0,0\" data-index-in-node=\"0\">\u6295\u8cc7\u5224\u65ad\u306e\u6700\u7d42\u8cac\u4efb\uff1a<\/b> 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2026\u5e74\u6642\u70b9\u306e\u60c5\u5831\u306b\u57fa\u3065\u304d\u4f5c\u6210\u3055\u308c\u3066\u3044\u307e\u3059\u304c\u3001\u305d\u306e\u6b63\u78ba\u6027\u3084\u5b8c\u5168\u6027\u3092\u4fdd\u8a3c\u3059\u308b\u3082\u306e\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u6700\u65b0\u306e\u696d\u7e3e\u3084\u30cb\u30e5\u30fc\u30b9\u306f\u3001\u5fc5\u305a\u5404\u4f01\u696d\u306eIR\u30b5\u30a4\u30c8\u3084\u4e00\u6b21\u8cc7\u6599\u3067\u3054\u78ba\u8a8d\u304f\u3060\u3055\u3044\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"5,3,0\"><b data-path-to-node=\"5,3,0\" data-index-in-node=\"0\">\u640d\u5931\u306e\u88dc\u511f\uff1a<\/b> 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