Elon Musk, CEO of Space Exploration Technologies Corp, speaks during a news conference at the National Press Club in Washington, D.C., April 5, 2011. Getty Images

SpaceX has revealed a new teaser image of what it claims is the world's most powerful rocket. Named Falcon Heavy, the company anticipated a 2017 launch date for the spacecraft, it said on Wednesday.

The vessel, which the aerospace giant described as being twice as strong as any other comparable rocket, was pictured in a factory "being prepped for next year" on the company's Instagram account. The $90 million rocket was reportedly able to lift more than 54 metric tons or 119,000 pounds, the equivalent of a Boeing 747 fully loaded with passengers, crew, luggage and fuel, according to the SpaceX's website. The Falcon Heavy will be able to provide double the power of the current highest capacity rocket, the Delta IV Heavy, at a third of the cost, SpaceX claimed.

"Falcon Heavy interstage being prepped at the rocket factory. When FH flies next year, it will be the most powerful operational rocket in the world by a factor of two," the company wrote in a caption underneath the image.

SpaceX CEO Elon Musk has been eager to present this company's latest innovation after the Falcon 9 rocket exploded while refueling ahead of a launch from Cape Canaveral, Florida in September. The incident destroyed the $200 million Spacecom AMOS-6 communications satellite it was set to carry on behalf of Facebook and caused further damage to the company's launch site.

Musk later said he identified the problem, which he said stemmed from "a combination of liquid helium, advanced carbon fiber composites and solid oxygen." The business magnate, who also owns electric automobile company Tesla Motors and helped found online money transfer system PayPal, has since stated that necessary adjustments have been made to the rocket's design and that it would be ready to launch sometime in "early-to-mid 2017", after being delayed from its initial 2016 year-end schedule.

SpaceX was founded in 2002 by Musk in hopes of restoring interest in space travel, especially within the private sector, and with the goal of eventually conducting manned missions to Mars. The company became the first to successfully launch a privately-funded, liquid-fueled rocket into orbit in September 2008 and enjoyed a series of achievements before September's setback. Musk, however, has remained publicly vigilant about moving forward with the company's goals.

"Falcon Heavy was designed from the outset to carry humans into space and restores the possibility of flying missions with crew to the Moon or Mars," the company wrote on its website.