SpaceX’s Falcon 9 rocket made history when it launched into space and successfully returned to Earth, landing upright at Florida’s Cape Canaveral.

According to The Verge, all current rockets that travel into orbit are destroyed or lost after takeoff. Rockets can cost roughly $16 million to build but only $200,000 to fuel so a reusable rocket represents significant cost savings.

In November, Jeff Bezos’ private spaceflight company Blue Origin also successfully landed its new rocket back on Earth (it travelled half the height), however the Falcon 9 is designed to go much higher and faster into space.

This was the third time SpaceX has tried landing their rocket. Previous attempts in January and April were unsuccessful.