Drawing from experience with the single engine Falcon I, unveiled in Washington DC last month and due to launch in mid 2004, SpaceX is developing a five engine version that will be the first American rocket with true engine out reliability in three decades.

Depending upon the phase of flight, Falcon V will be capable of losing any three of the five engines and still complete its mission. Historically, engine related problems are the overwhelming cause of launch vehicle failures.

Not since the Apollo program's Saturn V, developed over three decades ago, will there be this level of reliability available in the United States. Extremely rare among rockets, Saturn V had a flawless flight record, despite having an engine fail on two separate missions. Without engine out safety, the Apollo Moon program would have had two flight failures, possibly with tragic consequences.

The Falcon V also significantly increases the capability of the Falcon family, with a capacity of over 9,200 pounds to low orbit and up to a 13.1 foot (4 meter) diameter payload fairing. The vehicle is also capable of launching missions to geostationary orbit and the inner solar system, as well as carrying supplies to the International Space Station with the addition of a lightweight automated transfer vehicle.

With firm contract pricing set at $12 million per flight (2003 dollars) plus range costs, the approximately $1300 cost per pound to orbit will represent a new world record in the normally available cost of access to space for a production rocket (excluding only limited use, refurbished military hardware from the former Soviet Union).

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