Virgin Galactic
Virgin Galactic Holdings, Inc. is a British-American spaceflight company founded by Richard Branson and the Virgin Group conglomerate, which retains an 11.9% stake through Virgin Investments Limited.
Headquartered in California with launches in New Mexico, the company develops commercial spacecraft and provides suborbital spaceflights to space tourists. Virgin Galactic's suborbital spacecraft are air-launched from beneath a carrier airplane, White Knight Two. Virgin Galactic's maiden spaceflight occurred in 2018 with its VSS Unity spaceship.
The company also spun off its under-development LauncherOne rocket, an air-launched satellite launch vehicle, to Virgin Orbit in 2017. Virgin Orbit was subsequently shutdown in 2023.
On 13 December 2018, VSS Unity made the project's first suborbital space flight, VSS Unity VP-03. Its two pilots reached an altitude of, entering outer space by U.S. standards. In February 2019, the project carried three people, including a passenger, on VSS Unity VF-01; the spacecraft reached and one member of the team floated within the cabin. On 11 July 2021, Branson and three employees rode on VSS Unity 22 as passengers, the first time a spaceflight-company founder travelled on his own ship into outer space.
In February 2022, Virgin Galactic began selling tickets to the public for $450,000 apiece. The first such flight, Galactic 01, took place in June 2023. One year later, Unity made its final flight, Galactic 07; the company shifted focus to its Delta-class vehicles and a higher launch cadence.
In February 2025, a ticket for a seat was estimated to cost about $600,000.
Structure and history
Formation and early activities
Virgin Galactic was founded in 2004 by British entrepreneur Sir Richard Branson, who had previously founded the Virgin Group and the Virgin Atlantic airline, and who had a long personal history of balloon and surface record-breaking activities.The Spaceship Company
was founded by Richard Branson through Virgin Group and Burt Rutan through Scaled Composites to build commercial spaceships and launch aircraft for space travel. From the time of TSC's formation in 2005, the launch customer was Virgin Galactic, which contracted to purchase five SpaceShipTwos and two WhiteKnightTwos. Scaled Composites was contracted to develop and build the initial prototypes of WhiteKnightTwo and SpaceShipTwo, and then TSC began production of the follow-on vehicles beginning in 2008. In 2012, after Northrop Grumman acquired Scaled Composites, Virgin Galactic acquired the remaining 30% of The Spaceship Company.Investors
After a claimed investment by Virgin Group of, in 2010 the sovereign wealth fund of Abu Dhabi, Aabar Investments group, acquired a 31.8% stake in Virgin Galactic for, receiving exclusive regional rights to launch tourism and scientific research space flights from the United Arab Emirates capital. In July 2011, Aabar invested a further to develop a program to launch small satellites into low Earth orbit, raising their equity share to 37.8%. The New Mexico government has invested approximately $200m in the Spaceport America facility, for which Virgin Galactic is the anchor tenant; other commercial space companies also use the site.On Monday, October 28, 2019, Virgin Galactic listed on the New York Stock Exchange, trading under the ticker symbol 'SPCE', the first publicly traded space tourism company. The company raised $450 million through a SPAC merger listing, and the company's market value after listing was more than $2.4 billion. At the time, the company claimed to have over 600 customer reservations representing approximately $80 million in total collected deposits and more than $120 million in "potential revenue".
Aims
Early history and background
The Ansari X Prize was a space competition in which the X Prize Foundation offered a US$10,000,000 prize for the first non-government organization to launch a reusable crewed spacecraft into space twice within two weeks. It was modeled after early 20th-century aviation prizes, and aimed to spur development of low-cost spaceflight.Created in May 1996 and initially called just the "X Prize", it was renamed the "Ansari X Prize" on 6 May 2004 following a multimillion-dollar donation from entrepreneurs Anousheh Ansari and Amir Ansari.
The prize was won on 4 October 2004, the 47th anniversary of the Sputnik 1 launch, by the Tier One project designed by Burt Rutan and financed by Microsoft co-founder Paul Allen, using the experimental spaceplane SpaceShipOne. $10 million was awarded to the winner, and more than $100 million was invested in new technologies in pursuit of the prize.
Overview of the flights to be developed
The spacecraft initially called SpaceShipTwo was planned to achieve a suborbital journey with a short period of weightlessness. Carried to about 16 kilometers, or 52,000 ft, underneath a carrier aircraft, White Knight Two, after separation the vehicle was to continue to over 100 km. The time from liftoff of the White Knight Two mothership carrying SpaceShipTwo until the touchdown of the spacecraft after the suborbital flight would be about 2.5 hours. The suborbital flight itself would be only a small fraction of that time, with weightlessness lasting approximately 6 minutes. Passengers were to be able to release themselves from their seats during these six minutes and float around the cabin.Development operations
2007 Scaled Composites fuel tank testing explosion
In July 2007, three Scaled Composites employees were killed and three critically injured at the Mojave spaceport while testing components of the rocket motor for SpaceShipTwo. An explosion occurred during a cold fire test, which involved nitrous oxide flowing through fuel injectors. The procedure had been expected to be safe.Commencement of sub-space test flights
Just a year later, in July 2008, Richard Branson predicted the maiden space voyage would take place within 18 months. In October 2009, Virgin Galactic announced that initial flights would take place from Spaceport America "within two years." Later that year, Scaled Composites announced that White Knight Two's first SpaceShipTwo captive flights would be in early 2010.Both aircraft did fly together in March 2010. The credibility of the earlier promises of launch dates by Virgin Galactic were brought into question in October 2014 by its chief executive, George T. Whitesides, when he told The Guardian: "We've changed dramatically as a company. When I joined in 2010 we were mostly a marketing organisation. Right now we can design, build, test, and fly a rocket motor all by ourselves and all in Mojave, which I don't think is done anywhere else on the planet".
On 7 December 2009, SpaceShipTwo was unveiled at the Mojave Spaceport. Branson told the 300 people attending, each of whom had booked rides at $200,000 each, that flights would begin "in 2011." However, in April 2011, Branson announced further delays, saying "I hope 18 months from now, we'll be sitting in our spaceship and heading off into space." By February 2012, SpaceShipTwo had completed 15 test flights attached to White Knight Two and an additional 16 glide tests, the last of which took place in September 2011. A rocket-powered test flight of SpaceShipTwo took place on 29 April 2013, with an engine burn of 16 seconds duration. The brief flight began at an altitude of 47,000 feet and reached a maximum altitude of 55,000 feet. While the SS2 achieved a speed of Mach 1.2, this was less than half the 2,000 mph speed predicted by Richard Branson. SpaceShipTwo's second supersonic flight achieved a speed of 1,100 mph for 20 seconds; while this was an improvement, it fell far short of the 2,500 mph for 70 seconds required to carry six passengers into space. However, Branson still announced his spaceship would be capable of "launching 100 satellites every day."
In addition to the suborbital passenger business, Virgin Galactic intended to market SpaceShipTwo for suborbital space science missions and market White Knight Two for "small satellite" launch services. It had planned to initiate RFPs for the satellite business in early 2010, but flights had not materialized as of 2014.
On 14 May 2013, Richard Branson stated on Virgin Radio Dubai's Kris Fade Morning Show that he would be aboard the first public flight of SpaceShipTwo, which had again been rescheduled, this time to 25 December 2013. "Maybe I'll dress up as Father Christmas", Branson said. The third rocket-powered test flight of SpaceShipTwo took place on 10 January 2014 and successfully tested the spaceship's Reaction Control System and the newly installed thermal protection coating on the vehicle's tail booms. Virgin Galactic CEO George Whitesides said "We are progressively closer to our target of starting commercial service in 2014". Interviewed by The Observer at the time of her 90th birthday in July 2014, Branson's mother, Eve, told reporter Elizabeth Day of her intention of going to space herself. Asked when that might be, she replied: "I think it's the end of the year", adding after a pause, "It's always 'the end of the year' ".
In February 2014, cracks in WhiteKnightTwo, where the spars connect with the fuselage, were discovered during an inspection conducted after Virgin Galactic took possession of the aircraft from builder Scaled Composites.
In September 2014, Richard Branson described the intended date for the first commercial flight as February or March 2015; by the time of this announcement, a new plastic-based fuel had yet to be ignited in-flight. By September 2014, the three test flights of the SS2 had only reached an altitude of around 71,000 ft, approximately 13 miles; in order to receive a Federal Aviation Administration license to carry passengers, the craft needs to complete test missions at full speed and 62-mile height. Following the announcement of further delays, UK newspaper The Sunday Times reported that Branson faced a backlash from those who had booked flights with Virgin Galactic, with the company having received $80 million in fares and deposits. Tom Bower, author of Branson: The Man behind the Mask, told the Sunday Times: "They spent 10 years trying to perfect one engine and failed. They are now trying to use a different engine and get into space in six months. It's just not feasible." BBC science editor David Shukman commented in October 2014, that " enthusiasm and determination undoubted. But his most recent promises of launching the first passenger trip by the end of this year had already started to look unrealistic some months ago."