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SpaceX successfully launches recycled rocket into orbit

SpaceX became the first commercial company in history to re-enter a spacecraft from Earth orbit. SpaceX launched its Dragon spacecraft into orbit atop a Falcon 9 rocket at the Cape Canaveral Air Force Station in Florida. 

For the first time in history, billionaire entrepreneur Elon Musk's SpaceX  launched a recycled rocket back into Earth's orbit — a milestone that could drastically cut the cost of traveling into space and pave the way for a new era in space travel.

The Falcon 9 rocket blasted off from Florida's Kennedy Space Center Thursday evening on the historic reflight. It's the first time SpaceX founder Elon Musk has tried to fly a salvaged booster. The first stage landed on an ocean platform almost a year ago after a launch for NASA.

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According to SpaceX, a "rapidly reusable space launch vehicle" could reduce the cost of traveling to space by a hundredfold in the future.

The part of the rocket that is being recycled is its main body, which separates from the top part of the rocket and then barrels back to Earth, NBC News reported.

So far, after 13 attempts, SpaceX has successfully returned eight rockets back to Earth.

But the Falcon 9 rocket launch will be the company’s first time reusing the same booster.

Jeff Bezos' Blue Origin, a SpaceX rival, was the first to launch and land the same rocket twice with its New Shepard rocket in 2016.