SpaceX was forced to pull the plug on its satellite launch minutes before takeoff for the second time with unforeseen technical glitches, Reuters reported.

The launch is of an unmanned Falcon 9 rocket carrying an SES satellite for commercial communications. If SpaceX is eventually successful in its mission, it will be the highest the private space company has traveled.

The Falcon 9 rocket's launch was initially cancelled Monday due to strange pressure readings in the liquid fuel tank. The Thanksgiving launch would have been the second at Cape Canaveral since 1959, but instead SpaceX will try again Friday.

SES is the world's second largest satellite operator and stressed the importance of the $100 million SES-8 that is currently awaiting its launch.

"It's an extremely important satellite for us," Martin Halliwell, chief technology officer of SES, told reporters at a prelaunch gathering on Sunday in Cocoa Beach, Florida. "We know that as we go forward into these very significant growth markets that it's absolutely critical that we have a cost-effective and efficient way to get to orbit. That's really what SpaceX has brought us."

The satellite will be for television, cable, broadband and other services to India, China, Vietnam and several other markets in Asia. If SpaceX is successful, they will provide a low-cost option for SES and any other company or agency.

SpaceX's previous mission to space was a cargo trip to the International Space Station about 250 miles off the ground. The Falcon 9 rocket will be attempting for a third time Friday to launch a satellite 22,000 miles above the ground.

"There's always some risk associated with the flight not working. So we're very appreciative that SES would place a bet on SpaceX," said Elon Musk, SpaceX's founder and chief executive.

But the billionaire entrepreneur and chief designer of the Falcon 9 rocket knows what is at stake for his company in this mission.

Haliwell said SpaceX's competitors were "shaking in their shoes" because of the competitive prices Musk's company offers.

"Our prices are the most competitive of any in the world," Musk said. "We will force other rocket companies to either develop new technology that's a lot better or they have to exit the launch market."

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