Interview with Asad Malik, CEO of iRocket — Reconditioning, Reloading, and Relaunching the Future of Space, featuring Mr. Wilbur Ross, former U.S. Secretary of Commerce.

October 9th, 2025

Innovative Rocket Technologies Inc. (iRocket), founded in 2018, has quickly become one of the most promising U.S. aerospace companies aiming to revolutionize access to space. With its reusable launch systems, advanced propulsion technologies, and automated manufacturing for solid rocket motors, iRocket is positioning itself as a next-generation leader in both commercial and defense sectors. In this exclusive AeroMorning interview, CEO Asad Malik discusses the company’s vision, technologies, partnerships, and future ambitions.

AeroMorning: Mr. Malik, can you tell us how iRocket was founded and what its core mission is?

Asad Malik: iRocket was established in December 2018 with a simple yet ambitious purpose: to democratize space access through reusable and sustainable rocket technology. Our motto ‘Recondition, Reload, and Relaunch™’ reflects our commitment to treating rockets like aircraft—flying multiple times a day, not just once. We are building and testing rockets in Long Island, New York, and at Edwards Air Force Base in California under an $18 million Cooperative Research and Development Agreement with the U.S. Air Force Research Laboratory.

AeroMorning: Mr. Ross, your experience as former U.S. Secretary of Commerce included promoting the commercialization of space. How does this background influence your involvement with iRocket and its development of fully reusable launch vehicles?

Wilbur Ross: As Secretary of Commerce, I was responsible for the commercialization of space and attended SpaceX’s launch of the reusable lower section. That changed launch economics and iRocket’s technologically different totally reusable rocket will again improve the cost of launching potentially thousands of Low Earth Orbit (LEO) communication satellites launching, over the next few years

AeroMorning: Who supported the early growth of the company?

Asad Malik: We were fortunate to receive early support from the U.S. Space Systems Command and the venture capital firm Village Global, backed by Bill Gates, Reid Hoffman, and Eric Schmidt. This foundation allowed us to recruit exceptional talent from SpaceX, NASA, Aerojet Rocketdyne, and other major aerospace programs.

AeroMorning: What are iRocket’s main products today?

Asad Malik: Our portfolio has three pillars. First, our fully reusable rockets and engines, powered by Liquid Oxygen (LOX)-Methane propulsion. These vehicles can carry payloads of 1,500 to 2,200 kg into VLEO (Very Low Earth Orbit) and LEO. We’ve already secured a $642 million launch services agreement. Second, our Hydra 70 missile line, designed to modernize the U.S. defense supply chain with guided and unguided variants, developed in partnership with BAE Systems. Third, our Solid Rocket Motors (SRMs), which will power interceptors like Patriot PAC-3, SM-3, SM-6, and AMRAAM. These are being developed in our upcoming RAPID automated production facility.

AeroMorning: How is iRocket positioned against established competitors like SpaceX or Rocket Lab?

Asad Malik: We are not trying to replicate SpaceX; we are complementing the ecosystem by offering smaller, faster, and more responsive launches. Our 100% reusable rockets bring launch costs down from thousands to hundreds of dollars per kilogram, while enabling same-day turnaround. In the defense sector, our automated SRM production is reinventing how solid rocket motors are manufactured—producing on-demand, in-theater support for warfighters.

AeroMorning: What is the size of the markets you’re targeting?

Asad Malik: According to McKinsey, the global space economy will exceed $1.8 trillion by 2035, with over 58,000 satellites expected by 2030. In defense, there’s a $10 billion unmet market for small solid rocket motors by 2029. With our dual-use technology, we’re positioned to serve both segments. We already have over $1 billion in signed Letters of Intent and MOUs from government and commercial customers.

AeroMorning: Tell us about your latest corporate developments — the merger announcement for example.

Asad Malik: Indeed, in July 2025, we announced our plan to go public through a $400 million merger with BPGC Acquisition Corp., backed by the Hon. Wilbur Ross. The transaction will enable us to accelerate our growth, expand our production capacity, and bring iRocket to the Nasdaq. Mr. Ross will also join our public company board alongside leading figures like Paul Stein, Jerry MacArthur Hultin, and Blake Larson.

AeroMorning: Your technology has been described as unique. What makes it stand out?

Asad Malik: Our key differentiator lies in our MACH-i landing engine, a patented LOX-Methane propulsion system that’s efficient both on ascent and descent. Combined with automation and AI, it allows for rapid turnaround in under 24 hours. For our defense products, we are building the first fully robotic RAPID factory for automated SRM manufacturing—an industry first.

AeroMorning: What are your main customers and partnerships?

Asad Malik: Our partnerships span both government and private sectors. We work closely with the U.S. Air Force Research Lab, Space Systems Command, and commercial partners such as SpaceBelt KSA, with whom we signed a $640 million agreement for 30 satellite launches in the Gulf region. We also collaborate with BAE Systems for guidance systems and maintain strategic discussions with several defense and aerospace organizations.

AeroMorning: What’s the size and structure of your team today?

Asad Malik: We’re a growing team of highly specialized engineers and aerospace veterans, currently employing around 150 people across our facilities in New York and California. As we scale our production capacity and prepare for our public listing, we expect that number to double within two years.

AeroMorning: Looking ahead five or ten years, what do you envision for iRocket?

Asad Malik: Our ambition is to lead in small satellite launches and solid rocket motor manufacturing for global defense programs. We aim to redefine responsiveness in space access—launching within hours, not weeks—and to become a key industrial partner for nations seeking strategic autonomy in space. Ultimately, iRocket’s vision is to make access to orbit as reliable as air travel.

As iRocket prepares for its Nasdaq debut and the rollout of its fully reusable Shockwave vehicle, its vision to revolutionize access to space through sustainable, automated, and rapid launch systems is becoming a reality. From commercial constellations to national defense, the company stands at the intersection of innovation and sovereignty—ready to Recondition, Reload, and Relaunch™ the future of aerospace.

AeroMorning : Thank you Mr Asad Malik and Mr Wilbur Ross for presenting your company as well as your development plan to our AeroMorning readers.

iRocket reusable launch systems VDO

Source: AeroMorning