As per the latest news, Tesla has been in the news headlines recently. This is because the revolution that this company has brought about in electric car manufacturing. Such innovation has mesmerized majority of the politicians, environmentalists who are also thinking that how the world would change from this change.
On the other hand, another innovation which is led by Elon Musk is already creating havoc. On February 6, the company has successfully launched the new Falcon Heavy rocket. This is the first of its kind and is considered to be rocket science. Also, SpaceX was successful in recovering two out of the three boosters of the rocket. This was mainly achievable due to the successful landing in the launch area of the Cape Canaveral.
Since its formation, SpaceX has been successful to reduce its cost for accessing the space by a significant level. According to the Business data, the costing of Saturn V rockets touched around $1.2Billion for each launch in 2016. Again a Delta IV rocket has a launch price approximately $350 to 400 million as reported by the manufacturer. Thus it is quite evident that the amount of the launching has not changed much for the past 50 years.
On the other hand, SpaceX has been successful in reducing the launching cost significantly by around 50 before utilizing the rocket. Another 50 percent is expected to come down once reutilization is entirely put into use. Such data suggest that Elon Musk and his company, SpaceX, has taken just 15 years to reduce its cost price by a whopping 75 percent of the original cost. As a result, industrial experts feel that due to such massive cut in the rates, SpaceX has been successful in capturing more than 60 percent of the market in launching segment. Form zero market shares in the year of 2012, it has come a long way to achieve this result. The success of the company is likely to increase further if the ambitious project of the company in the form of the BFR launch gets executed successfully.
This scenario is pretty relevant in the sense that since commercial airlines are essential for the transportation of the passengers and the cargo, these rockets are very much valuable for executing various economic activities. No other business company has been so much success in the launching segment as compared to SpaceX.