Amazon.com founder Jeff Bezos-owned space company, Blue Origin, has surpassed a significant milestone as its rocket ship returned and landed safely after travelling in outer space.

Generally, after launching spacecraft into the outer space, rockets get disposed.

But Blue Origin has recorded a rare distinction of making its rocket return and land safely. Such reusable rockets will reduce cost of space flight.

Blue Origin may launch commercial suborbital flights by 2017.

The rocket ship travelled 329,830 feet into the outer space. After successfully completed the space flight, Blue Origin is upbeat on its future projects as it's planning to carry tourists into space.

In an interview with CNN, Bezos described the used rocket as the "rarest of beasts" now safely tucked away at its launch site in West Texas.

"Full reuse is a game changer and we can't wait to fuel up and fly again. If airlines discarded 747 jets after each cross-country flight, you can imagine how expensive your ticket would be", Bezos added.

Blue Origin's New Sheppard vehicle flew a suborbital test of 333,000 feet at four times the speed of sound and safely landed in West Texas. It is ready for another flight.

Bezos is working on a project to commence suborbital flights for passengers. The commercial suborbital flights from Blue Origin are expected in two years.

"We'll fly humans when we're ready. I'am thinking it could be sometime in 2017", Bezos told reporters.

Blue Origin is planning for two dozen additional test missions. The tests will also include flights carrying passengers can safely separate from the first stage if a rocket malfunctions during ascent. The vehicle without any pilots on board will work autonomously.

Another company in this segment is Virgin Galactic, promoted by Richard Branson. Virgin Galactic is also planning to carry passengers to space. Branson's company launches space vehicle from an airplane and that lands on runway similar to any other normal aircraft.

Blue Origin and SpaceX are main space companies engaged in private space launches. The competitor SpaceX is also working on land rockets upright.

Elon Musk, CEO, Tesla Motors, has launched SpaceX, which has successfully completed test flights. Its rockets landed upright during test flights, but they were within atmosphere. 

SpaceX yet to taste success in sending rockets into outer space and making them return to land safely. During previous tests, rockets toppled over, while landing on a platform in the ocean.

Buoyed with successful space flight, Bezos shrug off other companies saying he doesn't consider others as competitors to Blue Origin.

"I think of our competition primarily as Earth's gravity. Space is a big place. There's room for all of us", he said,