SpaceX To Revolutionize The Space Technology Industry

According to recent reports, SpaceX has recently created history by launching an International Space Station refueling mission from the very same launch pad that was used to launch the infamous Apollo moon missions. While the launch is indeed a technical feat in its own right, SpaceX has also achieved a business feat of sorts in terms of launching rockets.

How SpaceX Is Thriving Out Of Launching Rockets

According to Investopedia, this is because the Hawthorne, California- based Space Company has made a move towards drastically reducing the costs of launching rockets and, in the process, they have emerged as a front-runner in the industry. In 2012, SpaceX promoted a launch price of $57 million for their Falcon 9, a two-stage rocket designed and manufactured by SpaceX and intended to transport satellites.

SpaceX Starting To Dominate Rocket Industry

During that period, the market for rocket launches was heavily dominated by French Rocket Company Arianespace, which was a company that had a three-decade head start over SpaceX. Experts have pretty much pointed out that at $137 million per rocket launch, Arianespace's expense for satellite launches was more than double the cost of those of SpaceX.

The Cost Of A Falcon 9 Rocket

It has also been estimated that a Falcon 9 launch would cost around $61.2 million, with a margin of 40 percent for the company. In a recent interview with SpaceX CEO Elon Musk, he said that the Falcon 9's first stage already accounts for 75% of total launch costs, which would mean a total cost of $27.5 million for the rocket's first stage.

Tesla Keeping Things Tight

Because SpaceX is a private company, it has not fully divulged the secret to its pricing. It has also not filed for any patents because of the fear that they might potentially reveal secrets about its technology.

However, according to ABC 7 - WKBW Buffalo, Musk has hinted at how SpaceX has achieved the cost-efficient launches that they are known for. He claims that the company is vertically integrated and has established and built its entire supply chain, from rocket engines to the electronics components used in its rockets, all, from scratch.

In the process, it has fully innovated and revolutionized the Space tech industry. This is what separates SpaceX from its competitors.

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