Success Story of SpaceX

Space Exploration Technologies Corporation; in short SpaceX is an American space equipment manufacturing company which was founded in the year 2002 by Elon Musk and is headquartered in California. In a short period, the company became successful and became the leading manufacturer of space rockets and hence bagged several projects from the Air Force and NASA.

The first rocket manufactured by SpaceX was named the ‘Falcon 1’, which was launched in March 2006 and was unsuccessful in the beginning, second, and third attempts. The fourth attempt was the last hope for the company, and in 2008, the rocket was relaunched and this time with a weight of 150kg. This was a successful flight and safely entered the orbit. Hence, the future of the company was secured

In the year 2009, after the successful launch of another project, the launch of other devices was started in the year 2010 to send food and cargo to the International Space Station. All this advancement led to SpaceX landing contracts from NASA as well.

In June 2009, the company opened an ‘Astronaut Safety and Mission Assurance Department’ and appointed former NASA astronaut Ken Bowers ox the VP of the department.

As of February 2012, the shares of Elon Musk in SpaceX were estimated at nearly $1.3 Billion and doubled by May 2012 after the Dragon C2+ successful flight.

In 2012, when the competitor company was advertising their price per launch at $137 million, SpaceX introduced its cost per launch at $57 Million.

By 2015, the company had an employee base of nearly 5000 employees spread across all the locations of the company.

In the year 2019, the company aims to design, develop, test, and launch technology for landing ships. With innovative technology and great vision of the founder Elon Musk, the company is touching new heights every year. No doubt the company started as a private organization, however, after getting support from the government, attractive investments and contracts worth $2.5 Billion secured the future of the company as a great one. Elon is turning his dream of reaching Mars into a reality, by planning the first flight to Mars by 2022.

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