Elon Musk's SpaceX Creates History In Space Travel

The SpaceX used rocket was launched from Cape Canaveral, Florida, sending a communications satellite into orbit, and then landed on one of SpaceX's drone ships in the Atlantic Ocean.

The launch was round two for this rocket, which already launched and landed during a mission in April 2016. However, the Falcon 9's relaunch signifies the first time an orbital rocket has launched to space for the second time.

SpaceX founder Elon Musk applauded the unique double accomplishments of re-launching a used rocket and recovering the vehicle yet again as a radical step in his journey to slash launch costs and reduce intervals between space shots.

"This is a huge day," Musk told reporters after the launch. "My mind's blown."

The SpaceX CEO said his next aim is to turn the booster around for relaunch in 24 hours, a breakthrough he said could be achieved before the end of 2017.

"The potential is there for (an) over a 100-fold reduction in the cost of access to space. If we can achieve that, it means humanity can become a space-faring civilisation and be out there among the stars. This is what we want for the future," he said.

By launching re-used rockets, SpaceX aims to cut its costs by about 30 percent, the company has said. It sees the cost of a Falcon 9 ride at $62 million but has not yet declared a price for flying on a recycled rocket.

SpaceX has spent close to $1 billion developing the technology to land and re-fly its rockets and looked to recover its investment by 2018 or so, Musk said.