Bangalore: Microsoft co-founder and entrepreneur Paul Allen will fund to construct the “world’s largest aircraft” in association with renowned aerospace designer, Burt Rutan. This giant airplane will be capable of launching space craft into orbit, which will be a revolution approach to commercial space travel industry.

Paul Allen is supposed to  spend $250 million to build this unique airplane which will work as a mobile platform for launching satellites at low cost, which he believes could transform the space industry. Allen set up a new company called, Stratolaunch Systems, at the Seattle news conference. Stratolaunch will be based in Huntsville, Ala., the centre of much of the past U.S. space-rocket development. Its Allen’s first ever space venture since the partnership with Rutan, who had build the prize-winning SpaceShipOne rocket plane, which became the first privately developed craft to reach out space in 2004.

Rutan, now 67, will serve as a board member for Stratolaunch. He says Allen was the perfect team member and customer when they worked together before. Allen says, this latest venture of his is not going to be cheap. In SpaceShipOne project it was $25 to $30 million but here he is all set to put up to $300 million.

Chief Executive Gary Wentz, former chief engineer at NASA, said Stratolaunch will acquire two used Boeing 747 jumbo jets to be used for parts, including the engines, the landing gear, the avionics and dome of the hydraulics. Rutan said Stratolaunch doesn’t expect expect to receive Boeing’s blessing or cooperation in its repurposing of all the 747 gears.

The plane is designed to transport the rocket. This aircraft will not only maximize the launch flexibility of the spacecraft but also will minimize weather and range constraints. It will be capable of delivering unmanned payloads and manned spacecraft to orbit. It will be powered by six 747 engines. This giant aircraft will have wingspan of 385 feet, which is greater than the length of a football field. Its gross weight will be over 1.2 million pounds. Its orbital mission range will be around 1,300 nautical miles and also alternative cargo transport missions will be up to 9,200 miles. After the release of the space-craft, the estimated weight will be 13,500 pounds.

“I have long dreamed about taking the next big step in private space flight after the success of SpaceShipOne, to offer a flexible, orbital space delivery system. We are at the dawn of radical change in the space launch industry. There’s a certain number of dreams in your life that you want to fulfill, and this is a dream that I’m very comfortable will come to frutation”, Allen said in a statement.