Space Exploration Technologies Corporation (SpaceX) is an El Segundo, California space transportation startup company whose stated goal is to improve the cost and reliability of access to space "ultimately by a factor of ten".

SpaceX has announced development of the Falcon family of mostly reusable two stage, RP-1 kerosene/liquid oxygen launch vehicles, including the Falcon I rocket with one lower stage engine, one upper stage engine and the larger Falcon V rocket with five lower stage engines, one upper stage engine. The maiden launch of the Falcon I is scheduled for July, 2005, with a United States Naval Research Laboratory Optical Sciences Division Tacsat payload. The maiden launch of the Falcon V is scheduled for the second quarter of 2006 with a Bigelow Aerospace Genesis Pathfinder expandable space station module payload.

SpaceX was founded in June, 2002, by Chief Executive Officer Elon Musk. Musk co-founded two previous startup companies: Zip2 , a leader in the online news publishing software business; and PayPal, a leader in the online funds transfer business. Zip2 was sold in 1999 to the computer hardware and services company Compaq for US$341 million in cash and stock options [1] and PayPal was sold in 2002 to online auctioneer eBay for US$1.5 billion in stock.[2] Musk funds SpaceX from the fortune gained through these sales. In an interview Musk has stated: "I don’t want to say specific numbers. But I’ve certainly spent more than I expected to spend. On Falcon I alone I’m unlikely to recoup my investment, but with Falcon V and Falcon I, together I think that I probably will."

Future development

While currently focused on the launch of unmanned spacecraft, SpaceX has announced that it plans to pursue a manned commercial space program through the end of the decade. SpaceX seeks to win America's Space Prize, which will award $50 million to the first U.S. company that launches at least 5 astronauts on a privately-financed and developed reusable spacecraft to Low Earth Orbit twice within 60 days before January 10, 2010. SpaceX will use its Falcon V vehicle to pursue the prize.[3]

Also, SpaceX has announced plans for the development of the Merlin 2 engine, a scale version of a larger F-1-class engine to be developed in the future. The company is rumored to be working on a very large rocket to accompany the F-1-class engine, referred to in-house as the "Big F--king Rocket" (BFR), presumably in reference to the BFG9000 weapon in the Doom video game. In the past Musk has stated, "Long term plans call for development of a heavy lift product and even a super-heavy, if there is customer demand. We expect that each size increase would result in a meaningful decrease in cost per pound to orbit. For example, dollar cost per pound to orbit dropped from $4,000 to $1,300 between Falcon 1 and Falcon 5. Ultimately, I believe $500 per pound or less is very achievable."

External links

• SpaceX official website
• Race for Next Space Prize Ignites (Wired News, January 18, 2005)
• Privately Funded Falcon-1 Rocket Nears First Flight (Space News, August 14, 2004)
• The SpaceX Falcon Will Challenge Orbital Sciences and Boeing (Aviation Week & Space Technology, March 28, 2004)
• Interview with Elon Musk about SpaceX (Hobbyspace.com, August 25, 2003)
• Broadcast interviews with Elon Musk about SpaceX
• SpaceX starting small as it dreams of grand plans (Spaceflight Now, January 20, 2005)
• Hondas in Space (Fast Company, February 2005)