Watch How Close SpaceX Is to Successfully Recycling a Rocket

— -- SpaceX continues to get closer to achieving founder Elon Musk's dream of being able to recycle rockets.

Video released by the private space company shows the Falcon 9 rocket hitting its target when it returned to Earth on Tuesday. However, Musk said the rocket landed too hard for survival.

As the Falcon 9 rocket made its controlled descent toward a drone ship off the coast of Florida, it appeared to land perfectly before tipping over due to excess lateral velocity, according to Musk.

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It was the third attempt for SpaceX's rocket recycling test, that if successful could one day help significantly slash the costs of private space travel.

The first try barely missed its target, while the second attempt in inclement weather led to a fiery crash landing.

Having the ability to recycle rockets is something Musk said will "revolutionize access to space."

"If one can figure out how to effectively reuse rockets just like airplanes, the cost of access to space will be reduced by as much as a factor of a hundred," he said.

While SpaceX will have to try again, the successful launch of Dragon is good news for astronauts who can expect the capsule and its goodies to arrive at the International Space Station around 7 a.m. ET on Friday.

On board Dragon are more than 4,000 pounds of supplies, including science experiments, food and a Lavazza espresso machine especially developed for space.