Space Exploration Technologies has announced a plan to equip its next Falcon 9 rocket with landing legs, an important step toward developing a reusable, low-cost launcher, according to company officials.

The firm, also known as SpaceX, which is owned and run by Tesla CEO Elon Musk, is aiming to fly its rockets back to the launch site where they would land and then be reused for another mission.

Currently, the first stage of the rocket is discarded just minutes after liftoff, and then falls into the ocean at a rate where it is destroyed beyond repair.

SpaceX tried this past September to cushion a rocket's fall by attempting to restart its engines during the descent.

The test was actually almost successful, but the rocket's spinning cut off the flow of fuel, according to Reuters, causing it to smash into the water.

SpaceX has confirmed it will try again to attempt the engine restart while also deploying four landing legs to provide the rocket with more stability this time around.

SpaceX spokeswoman Emily Shanklin said the odds of success are currently at less than 40 percent. It is scheduled to take place on March 16.

The four legs will be attached at the base of the rocket and stored away during flight, according to Reuters. They're being designed to deploy as the rocket comes down toward the ocean.

"Given all the things that would have to go right, the probability of recovering the first stage is low," Shanklin said, according to Reuters. "It probably won't work, but we are getting closer."

Next month's launch will take place from Cape Canaveral Air Force Station in Florida. It will be the third of 12 scheduled station resupply missions under SpaceX's current $1.6 billion contract with NASA, according to Reuters.

See Now: OnePlus 6: How Different Will It Be From OnePlus 5?