SpaceX (SPCX) is planning to launch its massive Starship rocket into Earth’s orbit for the very first time.
The rocket launch will occur at the commercial space company’s main operations in Texas. Starship reportedly plans to also deploy 26 of SpaceX’s new Starlink V3 satellites.
Analysts say that the Starship rocket is critical to SpaceX’s growth plans. The company is counting on the giant rocket to scale its Starlink, or satellite internet, business.
Providing satellite internet is SpaceX’s largest and only profitable business segment currently. SpaceX operates around 11,000 active satellites in Earth’s orbit.
SpaceX has designed its Starship Super Heavy rocket and booster to be fully reusable, and to lift more cargo for less cost into orbit than any other spacecraft.
Previous test flights of the Starship rocket were not intended to make it into Earth’s orbit, but with the 14th flight, SpaceX is hoping Starship will circle the planet.
The company is preparing Starship for a major NASA test flight next year and intends to eventually use the rocket to bring astronauts back to the moon.
SpaceX’s v3 satellites are equipped with solar arrays that generate twice as much power as previous generations of satellites.
SpaceX went public in June of this year in what was the biggest initial public offering (IPO) ever. The company is now valued at about $2 trillion U.S.
Since its IPO, SPCX stock has declined 8% to trade at $148.68 U.S. per share.
