The company behind New Zealand's first ever rocket launch is already looking at what it will do next.

Rocket Lab's electron rocket successfully made it into space, after launching from the Mahia Peninsula yesterday.

CEO Peter Beck told Mike Hosking they're reviewing the data from the launch already, and why the rocket didn't go into orbit.

"There's already another one sitting in the factory, and the whole point of a test flight is to learn what you got right and what you got wrong, roll the next one out and fix it," he said.

"This flight has put us in a very, very strong position to start our commercial operations later in the year."

LISTEN ABOVE AS ROCKET LAB CEO PETER BECK SPEAKS WITH MIKE HOSKING

Project manager of the Space Systems Programme at Auckland University Jim Hefkey told Nadine Higgins you only have to look at the internet to see that many rockets explode on their first attempt at launch.

"If you look at Spacex for example, they blew up their first three rockets. Our's didn't blow up. I think that's fantastic."

Mr Hefkey said the fact the launch was a success is a huge deal.

"The world's been watching this. It's just going to be the start of something fantastic here, I think."