The private space industry sector has been growing and developing quite rapidly during these last few years. One private company, Space Exploration Technologies (SpaceX), has managed to do what only NASA and the like have so far been able to: successfully launching a rocket into orbit. This pioneering private company is sure to set the tone for those to come, entailing competitiveness not only between nations (as has been until now), but also between the private and public sectors.

Although the first to succeed, this launch is not a premiere for SpaceX, as the company has attempted three others, which unfortunately failed. Besides the obvious purposes of space exploration, SpaceX also has an underlying aim – “to reduce the cost and increase the reliability of space access by a factor of ten”. A daring goal, but one not impossible to achieve given the latest developments in space programs and mainly due to SpaceX’ effective rocket launch. The company’s CEO and CTO, Elon Musk, says the employees relish the triumph, viewing it not only as a crucial step, but as a well-deserved reward for the team effort put into this project.

Aside from being the CEO and CTO of SpaceX, he is the multimillionaire who co-founded PayPal (the online payment service which facilitates highly secure card payments) and who is also board chairman for Tesla Motors (the automobile startup company which focuses on producing high performance, consumer-oriented battery electric vehicles).The SpaceX Rocket, Falcon 1, was engineered purposely for its mission on Sunday, the 28th of September. It’s five feet tall and weighs a surprising 364 pounds.

The previous rocket test-launched on August 2nd lost contact with Mission Control. It was carrying satellites for NASA and the Department of Defense, and the cremated remains of over 200 people. Among these were astronaut Gordon Cooper and Star Trek actor James Doohan. Another one of the rockets suffered fuel leek within a minute after its launch.

Falcon 1 has Merlin as its own, private power supply. But what is Merlin? SpaceX explains that they developed a gas generator cycle kerosene engine relying on the functioning principles and basic blueprints of the injector system used in the lunar module from the Apollo Moon program. Providing 125,000 pounds of thrust at sea level, we begin to understand why SpaceX decided to name it Merlin: it is truly engineering wizardry.

Besides it being a first in the private sector, this launch was also exquisitely precise, as the rocket hit the “middle of the bull’s eye”. Encouraged by this achievement SpaceX is currently designing Falcon 9, a much larger space rocket. The latter will function as a shipment carrier for NASA. The company is hoping to soon develop spacecrafts capable of carrying people to space stations. NASA congratulated the company for its success, showing a genuine interest in collaborating with SpaceX.