The private launch company Rocket Lab unveiled its plans to launch a big, new rocket called Neutron by 2024 on Monday (March 1), turning away from its longstanding commitment to launch tiny satellites exclusively on small boosters.

The pivot comes as the company prepares to go public following a planned merger with Vector Acquisition Corporation. Scaling up from the company's standby Electron rocket marks the second recent change of plans toward long-scorned opportunities and is meant to take advantage of burgeoning interest in establishing megaconstellation networks of satellites, like SpaceX's Starlink. The Neutron rocket will also be capable of launching astronauts, Rocket Lab said.