How and when to watch the Bangabandhu launch

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This launch is a series of firsts, with the Bangabandhu 1 also being Bangladesh's first communications satellite.

The upgrades are all created to make Falcon 9 rockets, which SpaceX has already been recovering and reusing to cut costs on future missions, more durable.

Reusing the rockets is a major cost-saving step for space travel.

SpaceX founder and Tesla CEO Elon Musk said before the launch that a successful test flight could set up the Falcon Heavy's first launch for a paying customer just three to six months later. Thrust from its 27 engines is equivalent to 18 Boeing (BA) 747s, making it two times more powerful than any other rocket operating today, according to SpaceX.

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The "Block 9" will take off from the iconic Launch Pad 39A at NASA's Kennedy Space Center in Florida, carrying the 7,700-pound spacecraft Bangabandhu-1-Bangladesh's first geostationary communications satellite.

The new Block 5 rocket is created to be sturdier, so that it can be flown up to 10 times with minimal mechanical refurbishment - a big leap forward in efficiency and cost reduction. Musk hopes to begin test-launching the first BFR spaceships at SpaceX's Texas facilities early next year. Weather conditions are forecast to be 80 percent go. SpaceX is clearly trying to cut down the amount of time between when a rocket is first launched and when its first stage (and second stage, down the line) can be launched again.

The launch window opens at 4:12 p.m. EDT, and closes at 6:22 p.m. EDT. SpaceX will live-stream the launch here 20 minutes before liftoff, at around 3:50 pm today.

Although the company hasn't outlined all the changes, there will be a stronger heat shield for the trip back through the Earth's atmosphere and new retractable landing legs.