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In order to seriously compete with the Falcon 9, which currently dominates the market, experts say price and usability of the H3 would be key.

Japan has successfully launched a spacecraft designed to inspect and potentially remove man-made space debris from around the Earth, said a statement from Astroscale Japan on Monday. The Active Debris Removal has been launched by Astroscale-Japan (ADRAS-J). As per an AFP news agency report, it will rendezvous with and examine a Japanese H2A rocket remnant that has been in space for 15 years. The H2A rocket body, about the size of a bus, was launched by the Japan Aerospace Exploration Agency (JAXA) in 2009. Its precise location and orbital position are not known.

Japan successfully launched its new H3 flagship rocket on Saturday, putting its space programme back on track after multiple setbacks including the failure of the rocket's inaugural flight last year.

With the H3, JAXA aims to maintain Japan’s prowess in rocket development technologies and give a jolt to related industries.

Saturday’s success is a major boost for Japan’s space programme as the country struggles to stay competitive in the global space race.