SpaceX is undeterred by its recent rocket explosion, and just announced plans to go back into orbit this November.
“We’re anticipating getting back to flight, being down for about three months, so getting back to flight in November, the November timeframe,” Gwynne Shotwell, SpaceX’s president, recently announced. ““We would launch from the East Coast on Pad 39A in the November timeframe. And then Vandenberg would be available … for our other assorted customers,”
SpaceX’s $60 million Falcon 9 rocket exploded before launching in early September. It was carrying a $200 million satellite meant to provide phone, video and Internet services for the Middle East, Europe and locations across sub-Saharan Africa. The cause of the explosion is still unknown, but an investigation has revealed the accident likely began with a failure in the the rocket’s upper stage oxygen tanks.
Industry experts believe the explosion could have been caused by a fuel leak, unknown contaminants in the liquid oxygen propellant, or a problem with rocket staging. Until the cause of the explosion is known, CEO Elon Musk will have a harder time finding new clients, and is risking a serious financial loss with each new launch. Those losses could potentially drive customers to United Launch Alliance (ULA) and SpaceX’s other business rivals.
The Space Frontier Foundation (SFF) estimated that the explosion cost Musk $120 million. The company must replace the lost rocket, will lose future revenue from reusing the booster and must spend money to repair the launch pad. The company could also be hit with a $50 million dollar lawsuit from the telecommunications company whose satellite the rocket explosion destroyed. SpaceX declined comment to Forbes on the accuracy of SFF estimates.
SpaceX rockets have previously exploded several times during landing attempts, which Musk called a “huge blow.” SpaceX has nine more scheduled launches this year. After the company’s last launch failure, it took nearly six months before Falcon 9 launches were resumed. ULA employees have estimated that it could take up to a full year to resume launches.
SpaceX’s quick return to orbit may be because the company cannot afford to take a year off, as it currently has $330 million invested in Musk’s failing rooftop solar company, Solar City. SolarCity is a sizable investment for SpaceX, which was valued at $12 billion in 2015, leaving the company with little cash on-hand and no revenue stream if launches are paused.
Send tips to andrew@
All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact licensing@dailycallernewsfoundation.org.