SpaceX Starship Launch 'Still A Success' Says Analyst, Despite Rocket Exploding After Takeoff

On Thursday, SpaceX conducted the first-ever test launch of its Starship spacecraft aboard a Super Heavy rocket. Unfortunately, the rocket exploded less than four minutes after takeoff.

What Happened? SpaceX and Tesla Inc (NASDAQ: TSLA) CEO Elon Musk was quick to defend the test launch on Twitter.

"Congrats @SpaceX team on an exciting test launch of Starship! Learned a lot for next test launch in a few months," Musk said.

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Why It's Important: On Friday, Bank of America analyst Ronald Epstein said the test launch was an overall success for SpaceX, even if the end result was far from perfect.

The Super Heavy rocket was only the second methane-fueled rocket ever to launch and was the tallest rocket ever assembled. Less than four minutes after launch, the rocket began to tumble before reaching its desired altitude, and the flight termination system was triggered, leading to "rapid unscheduled disassembly." Five of the 33 Raptor engines had reportedly flamed out at the time of the explosion.

Epstein said Friday that the liftoff of the rocket alone was a success.

"The launch platform accomplished that and then some, succeeding in flying for several minutes and surpassing max q, the point during flight when the vehicle is under the most mechanical stress," Epstein said.

Related Link: Musk Assures That Tesla's Long-Term Profitability Isn't At Risk Despite Latest Earnings Drop

The long-term plan for Starship is to conduct regular flights to Mars and carry payloads of up to 150 tons. Musk has said Starship launches could ultimately cost less than $10 million each, but Epstein said the launches will likely cost SpaceX at least $97 million each for the foreseeable future.

Benzinga's Take: Musk is a master of marketing, so it's no surprise he is touting the launch as a big success for SpaceX. Musk also understands the power of optics, so he likely wasn't pleased the Starship explosion was trending on social media the same day Tesla shares dropped nearly 10% on an earnings miss.

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