NASA gave the go-ahead to start full production on the most powerful rocket ever.

The rocket, known as Space Launch System, is set to blast beyond low-Earth orbit this decade to explore the deep reaches of space, including near-Earth asteroids, the moon and, ultimately, Mars.

Space Launch System, a NASA rocket designed by Boeing that will be intended for deep-space exploration to near-Earth asteroids, the moon and even Mars, is depicted in this rendering. The first flight test of the $2.99-billion rocket is scheduled for 2017. Credit:NASA

Boeing, prime contractor on the rocket, announced on Wednesday that it had completed a critical design review and finalised a $US2.8-billion ($2.99-billion) contract with NASA. The last time the space agency made such an assessment of a deep-space rocket was the mighty Saturn V, which took astronauts to the moon.

If all goes well, the rocket's initial test flight from Cape Canaveral, Florida, is expected in 2017.