SpaceX's recent tower catches of Super Heavy boosters and the first reuse of a booster in 2025 have driven trader optimism toward the 55% implied probability for full reusability before 2027. The company is advancing Starship Version 3 with upgraded avionics and structural changes explicitly aimed at rapid, full-stack recovery of both stages by late 2026. Ongoing integrated flight tests continue to refine heat shield performance and ship reentry, though the upper stage has yet to demonstrate controlled return and reuse. Upcoming 2026 missions targeting propellant transfer and higher flight rates represent key near-term catalysts that could shift consensus if milestones are met on schedule.