The rocket will be launched from Cape Canaveral, Florida.
Earlier, there were rumors the company would attempt to launch the rocket's first stage on its drone ship, "Of Course I Still Love You", which had been damaged during the maiden launch of the Falcon Heavy - now the world's most powerful rocket currently in operation. Elon Musk tweeted congratulations to the team noting that ten years ago SpaceX couldn't even reach orbit with Falcon 1.
SpaceX's booster recovery ship remained in Port Canaveral and didn't go to the location, due to the increasing risks from rough seas that could jeopardize the mission.
Before Tuesday, Hispasat's previous Cape launches were on 2000 and 2002 on Atlas rockets.
Among the three stages of the rocket, the first two stages were thrown off on the land while the third part in the sea. Satellites in such "geostationary" orbits take 24 hours to compete one trip around the planet and thus appear stationary in the sky - a critical requirement for communications stations.
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The latest Falcon took flight from Cape Canaveral, Florida, early Tuesday, successfully hoisting a massive communications satellite for Spain's Hispasat corporation.
SpaceX originally planned to launch the satellite on February 25, but was forced to postpone takeoff to perform additional tests. It will provide video, data and broadband services across America, Europe and North Africa.
The Falcon 9 achieved 50 successful launches more than four years faster than United Launch Alliance's Atlas V, which debuted in 2002 and has been the USA government's workhorse for national security and high-value science payloads.
The engines turned off after two and half minutes after the launch, and the first stage fell away, while the flight continued towards its orbit on a single Merlin engine.
Like all Falcon 9 and Falcon Heavy launches, SpaceX will live-stream Tuesday morning's launch as well, and it can be seen here.