Rockets used to reach orbit are generally designed to burn up in the atmosphere on descent, but the VTVL is designed to be reusable by landing safely in the same position it took off from. If successful, SpaceX could bring mission costs down considerably.
Johnny Cash's "Ring of Fire" is the soundtrack for the latest video, in which the Grasshopper rockets to 250 meters, or about 840 feet, hovers, then lands safely back on the launchpad.
Grasshopper rocket flies up 250m, holds against wind and lands. Vid taken from our hexacopter youtube.com/watch?v=NoxiK7…— Elon Musk (@elonmusk) April 23, 2013