Billionaire Jeff Bezos (AMZN
) unveiled plans Tuesday for launching an ambitious giant power rocket. It's expected to compete against Elon Musk’s SpaceX and other companies for commercial satellite launches and space technology before the end of the decade.
The entrepreneur's private spaceflight company, Blue Origin is planning to send people as well as satellites into high-Earth orbit. The single-stage rocket named "New Glenn" (named after the first American to orbit the Earth) will be able to reach low Earth orbit, and multiple stages will fly even higher, aiming as far away as the Solar System.
The proposed booster could push Blue Origin into serious commercial rivalry for the modern space race. The New Glenn rocket is nearly as tall as Nasa's Saturn V launch vehicle and more than half as powerful. It will be taller and more powerful than SpaceX’s ambitious Falcon 9.
SpaceX launched its heavy-duty Falcon 9 rocket earlier this year. However, the future is uncertain, they had expected to try a seventh landing on two weeks ago, but it's rocket was destroyed during a routine pre launch test two days before liftoff from Cape Canaveral Air Force Station.
A deep investigation may prove to be an issue towards getting SpaceX flying again.
Blue Origin is also working on a smaller rocket, named New Shepard, to fly paying passengers where they can experience microgravity against the backdrop of space.