The anticipated mission was the first operation to be launched from UK soil and was expected to be a historic moment for UK’s space industry.

The jumbo jet, managed by the American Virgin Orbit company, had intended to be the first orbital satellite launch from western Europe and to exhibit their capabilities to investors.

The event attracted more than 2,000 spectators who wanted to witness what should have been a major milestone for UK space.

Although, when it had launched from Cornwall on Monday evening, “an anomaly” had occurred in the upper section of the rocket, according to the company. This prevented it from reaching the required orbit.

This resulted in the loss and burning of the satellites that were being carried as they could not be released.

Fortunately, the carrier 747 jet named Cosmic Girl securely returned to base.

However, the failed event is set to cost Virgin Orbit $200m.

Despite the failure, UK space chiefs plan to retry the mission within a year but not before the investigation of what had caused the malfunction.

Ian Annett, who is the Deputy CEO of the UK Space Agency said: “We get up, we go back, we try again, that’s what defines us”.