SpaceX has made measurable strides toward Starship reusability in 2026, with Flight 13 demonstrating intact upper-stage reentry, heat-shield performance data, and in-space Raptor relight, yet the Super Heavy booster landing burn remains unreliable and no tower catch of the ship has occurred. Version 3 vehicles incorporate redesigned propulsion and hot-staging hardware for reuse, but analysts note persistent thermal protection and turnaround issues that historically extend development timelines. Elon Musk has targeted a ship catch attempt in late 2026 and a potential reflight by year-end or early 2027, placing full operational reusability of both stages before January 2027 on a compressed schedule. Upcoming Flight 14 tests and any FAA licensing delays will serve as immediate sentiment drivers for traders assessing whether the 63.5% implied probability for “No” holds.