What’s happening right now
A start-up rocket firm SpaceX is working to build the world’s first fully reusable rocket. It may be a big revolution in space experiments of humans as a rocket can be reused for a second spacecraft or astronauts launch mission after the first one. As of today, rockets that are employed to take spacecrafts to the orbit often fall down or burn up in the space.

According to the SpaceX founder Elon Musk, experiments from his team are to realize the world’s first fully reusable rocket by the end of the year. NASA that is forced to stop its shuttle program by the end of this year has reached in an agreement with SpaceX to build rockets to travel astronauts to the international space station. It is reported that NASA has warned SpaceX that if it does not develop a shuttle, the agency will have to de-man the space station by early next year.
Trends
1. Grasshopper's hover-rocket
According to Mr. Musk, SpaceX is about to test-fly a “Grasshopper” hover rocket, which can carry seven people and tons of cargo to the space station. What is exciting with the Grasshopper hover-rocket is that it will come back after leaving the astronauts and cargo in the orbit. The 106 feet Reusable Launch Vehicle (RLV) will land on its launchpad in help of boosters, and without any parachutes and wings.
2. SpaceX's Dragon space

SpaceX is also working on a new version of its Dragon module that can also come back onto its launchpad without any parachutes. SpaceX scientists are to actualize the reusable rockets after deep researches of several years. Of course, it is now to herald a new revolution in space science.
The concept
To build a fresh rocket, around $50 million to $60 million is cost for it builder. The total launching cost of a rocket usually rests just at $200,000, however. It means if there is a reusable rocket that can be used in repeated space missions huge cost cuts can be attained. Space agencies can send a same rocket boarding various spacecrafts to the space and other planets.
The US government has recently slashed its funding to NASA and other agencies in going ahead with their costlier space programs. So it is high time the idea of a reusable rocket is getting more strength. Indeed, it will result in huge cost cuts for the agencies and builders of space rockets. SpaceX is certainly looking to introduce the new concept at this critical point of time.
The advantages
Cost reduction: As mentioned above, the biggest advantage of a reusable rocket is cost reduction. NASA is about to halt its space program with the deficiency of funds. So efforts to build up reusable rockets will be a huge assistance for space science and astronauts. Being an ultimate result, it will accelerate space exploration programs.
Time benefit: Most often, the process of building a rocket takes long time. It often hampers frequent missions to the space. Certainly, enough research and work are required to construct a rocket. With reusable rockets, this crisis can be solved to a great extent.
Environmental factor: In common case, a used rocket often falls apart or burns up in the sky. Chances are high that minuscule leftovers of the space rocket may come down to the earth. But with a reusable rocket, there will be no need of destructing a rocket in the space, and so there will be no issue of scraps plunging to the earth. A mission-completed-rocket can be used for another mission. So it may offer a huge relief for the environment.
The impact
Needless to mention reusable rockets are to realize a huge revolution in space science. More agencies will come up to build up reusable rockets to travel spacecrafts and humans to the orbit and the space station. NASA has arrived in an agreement with SpaceX to send astronauts to the space station by early next year. NASA has invested $1.6 billion in SpaceX for shuttles to carry out 12 resupplying missions to the space station. That means, the next era in space missions will be that of reusable rockets and propellers.