President Donald Trump set a bold new goal in his inauguration speech. He wants to go to Mars. Details are thin, but the aspiration should benefit Elon Musk’s SpaceX and a bevy of publicly traded commercial space stocks.

During his inaugural address, President Donald Trump said he wants 'American astronauts' on Mars. Where does a future Mars mission currently stand?

In his prepared remarks, Trump, a longtime backer of U.S.-led space exploration and exploitation, singled out Mars and left the moon hanging.

"Americans are explorers, builders, innovators, entrepreneurs and pioneers. The spirit of the frontier is written into our hearts," Trump says.

In his 29-minute Inaugural Address, Trump promised to defeat inflation and to “end the chronic disease epidemic.” He promised national power so great that it could “stop all wars,” and expand the nation’s territory. He even promised to “restore American promise.”

Donald Trump's bizarre inauguration day was packed with gaffes, executive orders and a number of unexpected celebrity appearances - here are some of the moments you may have missed

Billionaire and SpaceX owner Elon Musk was front and center during Donald Trump's inauguration after donating around $200m to get him elected as outgoing President Joe Biden warns of an oligarchy forming.

Mr Musk is in charge of Mr Trump's newly created Department for Government Efficiency (DOGE). Elon Musk's starring role in the new Donald Trump administration was confirmed as he appeared front and centre of his inauguration proceedings - and witnessed him pledge a mission to Mars.

Trump’s “America First” philosophy is often described as a return to the kind of isolationism that prevailed between the two world wars. But that’s not quite accurate. He wants to stride the global stage. But he’s advocating a foreign policy where America is dominant in its own hemisphere and engages elsewhere selectively.

Elon Musk and Barron Trump Reaction refers to a video of entrepreneur Elon Musk and Donald Trump's son Barron Trump in which two display drastically differ

According to body language expert Darren Stanton, Barron Trump's gesture was a subtle sign of someone who felt in a position of power or influence