Virgin Galactic has launched a new company, Virgin Orbit, to provide low-cost launch services for small satellites, breaking off the company’s LauncherOne satellite launcher programme.

Former Boeing executive Dan Hart has been appointed as the president of Virgin Orbit, which will use LauncherOne rockets to send satellites into space.

Headquartered in Virgin Galactic’s existing facility in Long Beach, California, US, the newly formed entity is the third company in Virgin Group’s commercial space portfolio, Galactic Ventures.

"Virgin Orbit has already employed more than 200 aerospace professionals at its 180,000ft² facility in Long Beach."

Virgin Orbit, which will also own the 747-400 flying launch pad, dubbed Cosmic Girl, has already employed more than 200 aerospace professionals at its 180,000ft² facility in Long Beach.

Virgin Group founder Richard Branson said: “It has been my longheld dream to open access to space to change the world for good.

“We have been striving to do that by manufacturing vehicles of the future, enabling the small satellite revolution, and preparing commercial space flight for many more humans to reach space and see our home planet.

“I’m thrilled that our small satellite launch service has now progressed to the point it merits the formation of its own company, Virgin Orbit, and a new president in Dan with decades of deep experience and success in a broad variety of space programmes.”

Currently, the company’s LauncherOne small satellite launch system is in advanced phase of hardware testing for every subsystem and major component of the vehicle.

The tests include long duration, full thrust firings of both of LauncherOne’s engines, cryogenic tank tests, and hardware-in-the-loop testing of the vehicle’s avionics.