SpaceX's Starship V3 configuration and recent Flight 13 results drive the 63.5% market-implied probability of full reusability before 2028. The July 2026 test delivered the first intact ship reentry with an undamaged heat shield, precise landing burn using Raptor engines, and controlled ocean touchdown after deploying Starlink satellites. Multiple prior Super Heavy booster tower catches with Mechazilla arms, plus Musk's August update targeting a ship catch in coming months and the first ship reflight by year-end or early 2027, signal accelerating progress on rapid reuse cycles. These milestones build on V3's Raptor 3 upgrades and orbital refueling demos, though challenges like booster landing reliability and heat-shield durability for repeated flights remain key variables for traders assessing the 2027-2028 window.