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<p><b>Company Description</b><br>
SpaceX is developing a family of launch vehicles intended to substantially reduce
the cost of reliable access to space. The company officially began operations
in June 2002 and is located in the heart of the aerospace industry in Southern
California, about a mile from LAX. <br>
<br>
Our first launch vehicle, named Falcon, is a two stage, liquid oxygen and kerosene
powered rocket capable of placing half a ton into low Earth orbit. We expect
to have the Falcon ready for launch by late 2003, with the actual liftoff date
subject to Air Force, NASA and FAA approval. Following this vehicle, SpaceX
plans to develop a large three stage rocket using the first and second stages
of the Falcon vehicle as its second and third stages. That vehicle would compete
in the heavy lift payload class occupied by Arianespace, Boeing, Lockheed, China
Aerospace and Russia’s Krunichev.<br>
<br>
While drawing upon the ideas of many prior launch vehicle programs from Apollo
to the X-34/Fastrac, SpaceX is privately developing the entire Falcon rocket
from the ground up, including both engines, the turbo-pump, the cryogenic tank
structure and the guidance system. A ground up internal development increases
difficulty and the required investment, but no other path will achieve the needed
improvement in the cost of access to space.</p>
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