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The private spaceflight company Blue Origin just launched itself into the history books by successfully flying and landing a reusable rocket.

Powered by the company's own BE-3 engine, the rocket kicked off the launchpad yesterday (Nov. 23) at 11:21 a.m. Central Time, carrying the New Shepard space vehicle. The stunning feat was captured in an amazing test flight video released by the company.

Shortly after liftoff, the rocket separated from the vehicle. In the past, a spent rocket would fall back to Earth like a stone, having completed its one and only flight.

But Blue Origin's rocket didn't fall aimlessly back to Earth; instead, it was guided toward a landing pad, where it re-ignited its engines, hovered briefly above the ground and finally touched down softly on the pad, remaining upright and intact. This soft landing means the rocket can be used for more flights, which Blue Origin and other companies have said will significantly drive down the cost of spaceflight. [See more photos of Blue Origin's epic test flight]

No other agency or company has successfully landed a reusable rocket before.

This is going have a major impact on the economics of space flight. It's a brand new ball game now. To read more, click here.