SpaceX competitor aiming for 70% cheaper rocket launches

CENTENNIAL, COLORADO — SpaceX rival United Launch Alliance has plans to drop rocket launch costs to below $100m, according to Business Insider.

The company, formed by Lockheed Martin and Boeing, aims to launch their Vulcan rocket by the mid 2020s at a rate 70 percent cheaper of the current cost. That's around $400m, according to Time.

The rocket's detachable boosters are autonomous and use an inflatable aeroshell to re-enter Earth's atmosphere. After deploying a parachute, the booster is caught in mid-air by a helicopter and taken back for re-use.

The upper stage of the Vulcan rocket is fueled by cryogenic hydrogen and oxygen. These are more adaptable to the elements of space than rocket-grade RP-1 kerosene, according to Business Insider. This can be left in orbit where it can be refueled and used for other space-based missions.