Building reusable rockets is fundamental to making space travel a reality, he said at the event held at SpaceX's South Texas test site.
This SpaceX's next-generation rocket is one of two identical rockets being assembled by SpaceX.
The SpaceX CEO said two years ago that it would cost between $A2.9 billion and $A14.7 billion to develop the hardware needed to trek millions of miles across deep space.
Starship is 164 feet high, 30 feet in diameter, with a projected payload of 150 tons and room for 100 passengers bound for other planets.
"To date, we've completed 78 launches and have developed the world's only operational reusable orbital class rockets and spacecraft - capable of launching to space, returning to Earth, and flying again", SpaceX said.
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S&P could cut its credit rating again in the next year if the company struggles to get more financing, analysts wrote in a note. Over the same time period, the company also captured 5% of its addressable market and operates in just three countries.
On Saturday night, the SpaceX founder Elon Musk brought media representatives together at SpaceX's facility in Boca Chica, Texas to show off the new spacecraft called 'Starship Mark 1.' The company hopes that this new gleaming, bullet-shaped rocket will one day carry crew and cargo to the Moon, Mars or any other point of the solar system. "So the critical breakthrough that's necessary is a rapidly reusable orbital rocket".
Mr Musk will be using the Kennedy Space Centre in Florida for some launches, but Boca Chica also features in his flight plans. It's also fitted with three of SpaceX's Raptor engines, that should be enough to power a test flight soon.
Throughout (and after) the presentation, SpaceX stayed active on Twitter, sharing out various tidbits of info on Starship and looks at photos, videos, and mockups. The engines will move to steer the rocket, he said.
And if tests go well, fearless explorers could start flying aboard it within the next year. NASA astronauts have been travelling to the ISS on Russian Soyuz vessels, with SpaceX and Boeing's Commercial Crew contributions having fallen behind schedule a number of time. "NASA expects to see the same level of enthusiasm focused on the investments of the American taxpayer". Improvement of each astronaut capsules have been beset by delays and testing mishaps. It's time to deliver.' It's the first time the NASA administrator comes up with such direct criticism, and it seems like SpaceX will have to take its head out of the clouds, and put its feet on the ground to make amends.