Blue Origin will ground its New Glenn rocket until at least the end of the year following Thursday's explosion at its Cape Canaveral launch pad, CEO Dave Limp announced Monday. The blast, during a routine hot-fire test, damaged the pad's main support tower but spared key fuel tanks and nearby boosters. No satellites were aboard, and no injuries were reported.

The incident marks one of the most severe setbacks for the Jeff Bezos-owned company since its founding in 2000, and it intensifies pressure on Blue Origin to accelerate New Glenn's flight rate amid fierce competition from Elon Musk's SpaceX. The grounding follows a mission failure in April on New Glenn's third flight.

Blue Origin had been preparing to launch 48 internet satellites for Amazon, its largest private customer. Amazon, which also contracts with United Launch Alliance and Arianespace, is racing to expand its satellite constellation to rival Musk's Starlink.

Limp declined to speculate on the explosion's cause. The company is now focused on repairs and inspections, aiming for a return to flight before year's end.