Virgin Orbit's satellite-launching Boeing 747-400 successfully completed its final developmental test flight on Sunday, five years since its arrival at the space company.

The next step for the newest space company of British entrepreneur Sir Richard Branson is to simulate dropping the wing-mounted rocket named "LauncherOne."

Once the process is fully tested, the company's 747 will be ready to send rockets with a satellite payload into space.

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Sir Richard Branson's space company, Virgin Orbit, just completed its final developmental test with its Boeing 747-400 jet turned satellite launcher and a fully-fueled "captive carry" rocket strapped to its wing.

Taking place two years after debuting its full rocket-and-airplane launch system for the first time, the successful final test flight paves the way for the launch demonstration when the payload will actually be released from the aircraft and brings the company one step closer to a space launch.

Virgin Orbit aims to use the retrofitted 747 to tow "LauncherOne," an orbital-class rocket, as high above Earth as possible, release the rocket, and then blast a small-satellite payload into orbit around Earth.

"Air launch frees missions from traffic jams at the existing launch sites; eliminates the need for costly, fixed ground infrastructure; and makes the system more resilient to unfavorable weather conditions," the company said in an emailed press release.

The next step for Virgin Orbit is to simulate the release mechanism for the rocket to ensure it properly separates from the 747. Once that is complete, the space company will be able to launch rockets into space carrying orbital satellite payloads.

Here's what the new system looks like.

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