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SpaceX has long spoken of its ambition to make rockets reusable.

And on Monday, the firm plans to reach a major milestone as part of this endeavour when it brings back part of one of its Falcon 9 rockets after launch. 

If all goes to plan, the first stage of the rocket will gently lower itself and land on solid ground for the first time ever. 

SpaceX is planning to land a rocket at Cape Canaveral on Monday. The first stage of its Falcon 9 rocket will attempt to touch down on a barge (illustration shown) after launching a Dragon capsule into space. It is the first ever attempt at landing a rocket on solid ground after launch

The attempt will occur during the launch of the latest cargo-carrying Dragon capsule to the ISS at 7.31pm GMT (2.31pm EST) on Monday 16 December.

The Falcon 9 rocket carrying Dragon will take off from Florida's Cape Canaveral Air Force Station.

After launch, at a height of about 56 miles (90km), the first stage of the rocket will separate from the second stage.

While the latter continues its mission into orbit, the former would usually be left to fall back into the ocean - as is the case on all other rocket launches.

However on this flight, for the first time ever, SpaceX will instead use a specially designed first stage capable of landing itself on a floating barge.

In a previous flight, a Falcon 9 first stage hovered above the surface of the ocean - without a barge - in a successful demonstration of the technology.

On that flight, the first stage was left to fall into the ocean after proving it could hover above the ground. But on this next flight, the rocket will touch down on a floating barge.

IS THIS THE END OF THE DISPOSABLE ROCKET?

The upgraded Falcon 9 v1.1 has engines that are 60 per cent more powerful than previous versions

Private spaceflight company, SpaceX, successfully launched the first of its newly-improved Falcon 9 rockets in September. 

The nine-engine rocket is its most powerful to date and designed to test the viability of using fully reusable launch vehicles for future missions.

Currently, after delivering their payloads into orbit, booster rockets tumble back toward Earth and essentially explode mid-air before crashing into the sea.

This is a costly operation causing the price of launches to top £280 million ($440 million).

SpaceX, however, is attempting to develop rockets that can make soft landings back on Earth so they can be recovered and recycled.

After September's launch, three first-stage engines were reignited, to see if they could bring the first-stage of the rocket segment down through the atmosphere intact.

Another engine was then used to try to slow the stage still further just before it touched the water. 

'The most revolutionary thing about the new Falcon 9 is the potential ability to recover the boost phase, which is almost three-quarters of the cost of the rocket,' said SpaceX CEO Elon Musk. 

The incredible attempt will occur during the launch of the latest cargo-carrying Dragon capsule to the ISS at 7.31pm GMT (2.31pm EST) on Monday 16 December, from Florida's Cape Canaveral Air Force Station. Pictured is a previous Falcon 9 launch on 14 July 2014

Grid fins (seen here) on the side of the first stage of the rocket will keep it steady as it descends to Earth, while it will save 15 per cent of its initial fuel in order to lower itself slowly to the ground

The barge measures about 300 feet (90 metres) long by 100 feet (30 metres) wide, and also has wings that extend out to another 170 feet (50 metres).

According to SpaceX chief Elon Musk, it also has 'thrusters repurposed from deep sea oil rigs' that can hold it in position within 10 feet (three metres) even in a storm.

To control the rocket as it lands, grid fins on its side are used, which control its pitch, yaw and roll.

These are 'stowed on ascent and then deploy on re-entry for "X-Wing" [from Star Wars] style control,' according to Musk.

And to slow it down as it descends it will save 15 per cent of its original fuel, allowing it to lower itself towards the ocean without the use of a parachute.

The barge (shown) measures about 300 feet (90 metres) long by 100 feet (30 metres) wide, and also has wings that extend out to another 170 feet (50 metres)

However, as the mission has never been tried before, he added that there was only a 50 per cent chances of the platform landing being a success on this first attempt.

Whatever the outcome, though, SpaceX will use the data they glean to improve their technique and one day plan to perform this manoeuvre during every launch.

Cameras on board the barge will capture the entire descent, although it's unclear how much - if any - of this footage SpaceX will make public.

Eventually, they will start bringing the upper - or second - stage of the rocket back as well.

The ultimate goal is to make the entire rocket reusable - which will drastically reduce the cost of going to space.

SpaceX has a £1billion ($1.6 billion) contract with Nasa to resupply the ISS. This launch of the Dragon capsule will be the fifth of 12 scheduled missions.

Elon Musk (pictured) said the ambitious attempt has a 50 per cent chance of working. SpaceX ultimately wants all of its rockets to be reusable in order to reduce the cost of going to space