SpaceX, officially known as Space Exploration Technologies Corporation, is a private American aerospace manufacturer and space transportation company founded by Elon Musk in 2002. Musk aimed to reduce the cost of space transportation and facilitate the colonization of Mars. The company was established after Musk's unsuccessful attempt to purchase affordable rockets from Russia. Instead of giving up, he decided to create SpaceX to build the necessary rockets himself. Musk sold PayPal to fund SpaceX and focused on making rockets more cost-effective through vertical integration, producing about 85% of launch hardware in-house. This approach allowed SpaceX to significantly reduce launch costs while maintaining a high profit margin. Initially, the company employed 160 people and aimed to achieve a launch cost of $500 per pound. In 2003, SpaceX gained media attention, with Musk dubbed "A Six Million Dollar Man." The company announced its new launch system, Falcon, with its main engine, Merlin, nearing completion. By 2005, SpaceX had plans for a human-rated commercial program, developing the Dragon capsule capable of carrying cargo and astronauts into orbit.
SpaceX
by Tirth Bhayani in English Magazine
Description
SUCCESS STORY OF SPACEXSpace exploration technologies corporation doing buisness as SpaceX is a private american aerospace manufacturer and space transportation services company headquartered at Hawthorne, California. It was founded by entrepreneur Elon Musk with a goal of reducing space transportation cost and enabling colonization of Mars.The successful startup of this company dates back to May 6 2002, 16 years ago. The story is quite different from other startup. To make a reusable rocket and launch system and make it cost effective was the prime motive of Elon Musk. In 2001. Musk conceptualized Mars oasis, a project to land a miniature