American startup, Space X has become the first privately-owned company to achieve the unique distinction of sending a liquid propelled rocket in to orbit.

The company conducted the first ever, successful test of its Falcon1 rocket yesterday. The rocket was launched from Omelek Island, an US controlled territory in the Marshall Islands. Prior to this, there have been three attempts by SpaceX to launch the Falcon, all of which have been failures.

With this successful launch, Space X has catapulted itself into the league of major space research organizations, which have the capability to send spacecrafts in to orbit. Space X also has a lesson or two to give to the benevolently funded government organizations about cost cutting. All previous missions (including the latest one) has been executed at a fraction of the cost "normally" incurred by large space agencies.

After this launch, we will see the launch of another Falcon 1 rocket early next year. It is slated to carry a Malaysian satellite, RazakSat. This will be followed by the maiden flight of another rocket from SpaceX, the much-larger Falcon 9. Expect that in mid 2009.



Via: Spacefellowship