U.S. President Donald Trump signed an executive order on Wednesday to streamline federal regulation governing commercial rocket launches, a move that could benefit Elon Musk's SpaceX and other private space ventures.

SpaceX, though not mentioned by name in Trump's order, easily leads all U.S. space industry entities, including Nasa, in the sheer number of launches it routinely conducts for its own satellite network, the U.S. space agency, the Pentagon, and other enterprises.

President Donald Trump signed an executive order Wednesday to ease regulations for the commercial space industry, including steps to speed the licensing process for rocket launches in a win for the growing sector and onetime ally Elon Musk’s SpaceX.