Once the butt-end of rocket industry jokes, SpaceX has completely disrupted the world's market for launches with high-performance, increasingly low-cost, and ever-more-reusable rockets.

Founded by entrepreneur Elon Musk in 2002, SpaceX did not have an easy start — it was bordering on bankruptcy in 2008 after three failed launches.

Today the aerospace company has about $10 billion worth of launches booked, built the world's most powerful operational rocket, and touts an ambitious goal to colonize Mars.

Its success has so far relied on its workhorse launcher: the 229-foot-tall Falcon 9 rocket. But continued industry dominance is anything but guaranteed.

In the near future, Musk and SpaceX will face competition from a number of companies, including Jeff Bezos' Blue Origin and Paul Allen's Stratolaunch Systems, that are developing reusable, next-generation rocket engines, boosters, and spaceships.

Here's how the competition in the new space race stacks up.

This story was updated with new information. It was originally published at 10:20 a.m. ET on March 4, 2018.