ELI5: Explain Like I'm 5

Private spaceflight

Private spaceflight is when a company or person owns a rocket and spaceplane that is used to launch things and people into space. A company or individual will buy and build their own rocket, then hire a team of people to operate it and send things into space. It is a way for people or companies to explore space and do experiments and projects that are too expensive for governments or larger companies to do.