Billionaire Paul Allen has created a new company that will launch satellites and people into space from the world's biggest plane. The Microsoft co-founder this week unveiled 'Vulcan Aerospace', which will look after the space programs of Stratolaunch Systems. This includes an ambitious project to launch spacecraft and probes into orbit from of a huge carrier aircraft with a wingspan of 385ft (117 metres). Paul Allen, the Microsoft co-founder this week unveiled 'Vulcan Aerospace', which will look after the space programs of Stratolaunch Systems. This includes an ambitious project to launch spacecraft and probes into orbit from of a huge carrier aircraft with a wingspan of 385ft (117 metres) The plane will climb to 30,000 feet and launch a rocket at high altitude, avoiding the huge fuel costs of launching from Earth. This will then go into orbit as normal and deliver a satellite. Initially, the system is intended to deliver satellites weighing up to about 13,500lbs (6,124 kg) into orbits between 112 miles and 1,243 miles (180 km and 2000 km) above Earth. Allen's vision is to create a giant air pad in the sky, allowing payloads to reach space faster and at a lower cost than existing technologies. The Stratolaunch carrier aircraft will be powered by six 747-class engines, is currently being assembled at Mojave, California. Initially, the system is intended to deliver satellites weighing up to about 13,500lbs (6,124 kg) into orbits between 112 miles and 1,243 miles (180 km and 2000 km) above Earth. The plane will climb to 30,000 feet and launch a rocket at high altitude, avoiding the huge fuel costs of launching from Earth. The company will 'shift how the world conceptualises space travel through cost reduction and on‐demand access,' according to Vulcan Aerospace president Chuck Beames who made a presentation in Colorado Springs this week. The Stratolaunch Systems project was inspired by SpaceShipOne which won the $10 million Ansari X Prize in 2004 for becoming the first privately funded manned vehicle to reach space. 'Stratolaunch's ability to launch from variable locations will enable satellites and humans to be efficiently inserted into their most optimal orbit at a time of the customer's choosing,' Beames wrote. The Stratolaunch carrier aircraft's 385 feet (117 metres) wingspan compares to 320 feet for H-4 Hercules and 225 feet for Boeing 747-8 . Earlier this year, the world received its first glimpse of a gigantic airplane that will serve as an airborne launch pad for putting satellites - and eventually people - into orbit. Picture is its twin fuselage sections . 'Launching far away from populated areas (i.e. middle of the ocean) also significantly reduces public safety risk. The Stratolaunch carrier plane is on track to make its first test flight in 2016, according to Space.com. The rocket is being developed by Orbital ATK, and the designs uses solid-fuel lower stages and an upper stage powered by RL-10 engines. But according to SpaceNews, Beames indicated that the company is also looking at other launch vehicle options. Wingspan: 385 feet (117 metres) Engines: Six 747-class engines . Fuselage length: 238 feet (72 metres) Weight: 1,200,000 lb (544,311 kg) Maximum speed: 460 knots, 530 mph (850 km/h) Maiden launch: Flight testing will begin in 2016. The first launch of the space launch vehicle is likely to take place in 2018. Satellite delivery:  Initially, the system is intended to deliver satellites weighing up to about 13,500lbs (6,124 kg) into orbits between 112 miles and 1,243 miles (180 km and 2000 km) above Earth. Launch sites: Several sites are under consideration, including Kennedy Space Center, Wallops Island and Vandenberg AFB. An animation of the moment the Stratolaunch carrier aircraft delivers a rocket high into Earth's atmosphere before it goes into orbit . Each of the twin fuselages of the the Stratolaunch carrier aircraft is 238 feet long and, when complete, will be supported by 12 main landing gear wheels and two nose gear wheels . 'What we really want to do is focus on a lower-cost propulsion system that is evolvable in some fashion,' he said. 'We're still looking at Orbital as a potential option,' he said. 'We're widening our aperture to see if this is the right path forward.' Stratolaunch could someday support several launch vehicles, he said. As a result, Stratolaunch said it is temporarily halting work on a crewed vehicle that would launch on the Orbital ATK booster. That company added that it is deferring work on a crewed vehicle that would launch on the Orbital ATK booster to focus more heavily on getting the Stratolaunch carrier aircraft off the ground. In February. the world received its first glimpse of a gigantic airplane. Its 385 feet (117 metres) wingspan compares to 320 feet for the Hughes H-4 Hercules and 225 feet for the Boeing 747-8. Pictured is one of its twin fuslage sections . Rare stills taken from footage shot for a recent news story by KGET 17, a Bakersfield TV station, show its huge size, according to a report by Guy Norris in Aviation Week. Hours after unveiling its next-generation 'Vulcan' rocket this week,  United Launch Alliance (ULA), ran into its first problem - the rocket's name. 'Vulcan is a trademark of Vulcan Inc. and we have informed ULA of our trademark rights,' Chuck Beames, president of the Paul Allen-backed Vulcan Aerospace, told Reuters. 'Paul Allen and Vulcan were early leaders within space exploration with the launch of SpaceShipOne more than a decade ago. We are flattered by ULA's tribute to our legacy by naming their new rocket 'Vulcan',' Beames said. ULA, a joint venture of Lockheed Martin and Boeing Co, selected Vulcan as the name of its new booster, which will be developed in phases beginning in 2019, after it won more than 1 million votes in a crowdsourcing initiative. 'We have done our due diligence regarding the legal right to use the name Vulcan,' ULA spokeswoman Jessica Rye wrote in an email. 'ULA is committed to taking every reasonable step to avoid any confusion with other entities using this name and we are confident we can do so,' she said. The images show one of the two twin fuselage sections under assembly. In the news report, Scaled Composites president Kevin Mickey says the company has so far built 'roughly 200,000lbs of composite structure' for the vehicle. Instead of a satellite, the Stratolaunch airplane could launch a Dream Chaser spaceship, which would be outfitted with an as-yet-unspecified upper-stage rocket motor. 'Dream Chaser seemed to be the logical way to go,' Stratolaunch Executive Director Charles Beames said in October. The Stratolaunch carrier aircraft's 385 feet (117 metres) wingspan compares to 320 feet for the Hughes H-4 Hercules and 225 feet for the Boeing 747-8. Each of the twin fuselages of the Stratolaunch carrier aircraft is 238 feet long and, when complete, will be supported by 12 main landing gear wheels and two nose gear wheels. Stratolaunch has produced computer-generated images and videos of the aircraft, but the TV footage was the first time images of the real vehicle  have been shown. Allen has previously said his project would 'keep America at the forefront of space exploration and give a new generation of children something to dream about'. Several companies are competing to develop spacecraft to deliver cargo and astronauts to the International Space Station. The Microsoft billionaire criticised the fact that government-sponsored space programmes are waning. Nasa is paying Boeing and SpaceX to build the capsules and fly them from Cape Canaveral, which hasn't seen a manned launch since the shuttles retired in 2011. In the news report, Scaled Composites president Kevin Mickey says the company has so far built 'roughly 200,000lbs of composite structure' for the vehicle . Rare stills taken from footage shot for a recent news story by KGET 17, a Bakersfield TV station, show its huge size. Stratolaunch has produced computer-generated images and videos of the Stratolaunch carrier aircraft, but the TV footage is the first time images of the real vehicle have been shown .
New company will look after the space programs of Stratolaunch Systems .
This includes plane which has a wingspan of 385 feet (117 metres)
It will be powered by six 747-class engines during first flight in 2016 .
Will initially deliver satellites weighing up to 13,500lbs (6,124 kg) into orbits between 112 miles and 1,243 miles (180 km and 2000 km) above Earth .