Space X Launches Rocket

Space X Launches Rocket

The successful launch of Falcon 9 rocket was a historical event for space entrepreneur Elon Musk. But he has admitted that he was worried some years ago that the project will be grounded due to lack of cash.

He revealed that Space Exploration Technologies Corp. faced a lot of challenges and was once even close to a partnership with Northrop Grumman Corp. He felt that privately funded space ventures are still very risky and have to overcome a lot of challenges.

The launch of the Flacon 9 rocket last Friday will add a historical chapter in the field of manned space exploration. The US Government wants NASA to outsource cargo and astronaut transportation to the international space station for the next decade.

Space Exploration Technologies Corp. along with other Companies is expected to compete for NASA’s manned space program. The US Government believes that encouraging competition in the sector will save it a lot of money and develop a competitive space industry in the US. However, the plan has still not been approved by the US Congress.

Critics of this plan stress that most of the money will come from the pockets of the US taxpayers. Space X still needs an infusion of more than $1 billion in the next few years. It will need the money to transport astronauts to the international space station.