Rocket launch in New Zealand brings quick and cheap space access

The rocket dubbed "It's Business Time" took off just before 5 pm local time from a spaceport in New Zealand

Cheap, quick access to space has officially arrived — and in some serious style.

On a late Sunday afternoon in New Zealand, Rocket Lab successfully launched its third rocket. Dozens of employees gathered at the company’s headquarters in Auckland clad in Rocket Lab’s black-and-red colors and let out a series of primordial screams as the rocket took off, flew into space and dropped its satellite payload into orbit.

While issues had delayed this launch for months, Sunday’s event went off without a hitch. Rocket Lab has now established itself in the lead position of a frenetic, worldwide competition to change the economics