Ananya Gairola, Benzinga Staff Writer November 21, 2024 1:55 AM | 2 min read See Also: SpaceX’s European Rival Raises $160M For Reusable Space Capsule “Unfortunately a no-go for the catch,” SpaceX engineer Kate Tice said during the live broadcast on X, formerly Twitter, “It was pretty epic on attempt one, but the safety of the teams and the public and the pad itself are paramount … So we are accepting compromises.” The rocket itself successfully entered orbit, completing a loop around the Earth before the upper stage performed a controlled re-entry and crashed into the Indian Ocean. Meanwhile, the booster landed in the Gulf of Mexico but exploded upon impact with the water. Why It Matters: While the booster catch did not succeed, the test still marks a step forward for SpaceX's reusable rocket technology. The company's goal is to significantly reduce the cost of space exploration by reusing boosters, a concept that could lower the cost of a Starship flight from $100 million to $50 million over time. SpaceX remains focused on refining its technology as it prepares for future missions, including a planned Moon landing in 2026. Earlier this month, the company's COO Gwynne Shotwell also expressed frustration with regulators hindering innovation at SpaceX. "Permissions are a different thing. Technology is easy. Physics is easy. People are hard; regulator people are the hardest." Despite these obstacles, SpaceX's Starlink satellite network is expected to become profitable in 2024, with the company producing 50-60 satellites each week. Read Next: