SpaceX will launch its biggest rocket yet, called the Falcon Heavy, at the end of the month, Chief Executive Elon Musk announced on social media late Thursday.

The billionaire's space exploration company claims the Falcon Heavy is the "most powerful rocket in the world by a factor of two." Musk said in an Instagram post Thursday that, at 2,500 tons of thrust, the rocket is equivalent to 18 Boeing 747 aircraft at full throttle.

Musk also revealed that the rocket would carry out a test fire next week with a full launch at the end of the month. Until now, there was no date set for the launch.