New Zealand is all set to scale yet another milestone in the space race with the launch of six meter long and 150mm in diameter rocket ‘Manu Korere’ designed by private company Rocket Lab under the supervision of former crown research scientist Peter Beck.

The rocket has been designed for scientific sub-orbital 'sounding' missions, informed Mr. Beck.

While further explaining about the rocket, Mr. Beck said that it would travel up to a distance of 120 kilometers and return to the earth forming a sub-orbital ballistic curve.

The rocket, officially an Atea-1 model, is capable to carry payload of just two kilograms and it is designed using light weight carbon fiber components.

It is equipped with an engine of just 13kg, which is capable to generate power as much as 3200 horsepower.

The developer, Rocket Lab, hopes capturing significant market share by selling such rockets aimed for different purposes including climate change and monitoring.

The rocket is scheduled for launch by the last week of November from Great Mercury Island, and the necessary approval has been received from the island owner millionaire banker Sir Michael Fay.

Mr. Beck, said, "We gave Sir Michael a ring. He said fantastic. He's got right in behind the project."