Sierra Nevada's Dream Chaser Cargo System has foldable wings that allow it to fit inside a standard 5-meter rocket fairing. (Sierra Nevada Space Systems)

Louisville-based Sierra Nevada Space Systems on Tuesday revealed the next generation of its Dream Chaser spacecraft: an uncrewed plane with folding wings that the company hopes will win part of a $14 billion contract to ferry cargo to and from the International Space Station.

The reusable craft dubbed the Dream Chaser Cargo System, or DCCS is the Dream Chaser "space taxi" modified to hold cargo.

Although cargo runs aren't as sexy as astronauts embarking on space missions, they are just as important if not more so. In addition to ferrying supplies to the astronauts aboard the space station, cargo missions transport science experiments.

Dream Chaser Cargo System exceeds all of NASA's requirements for the Commercial Resupply Services 2 contract, Sierra Nevada Space Systems chief Mark Sirangelo said, and the craft which resembles a mini-space shuttle can land on a runway, allowing it to be reused.

In the expensive business of space exploration, reusability translates to cost savings and a faster time frame to launch, and rocket reusability has been a hot topic. SpaceX recently attempted to land a Falcon 9 rocket on a barge, and Centennial-based United Launch Alliance is expected to announce its own reusable rocket next month.

Space Systems is ready to push it a step further, Sirangelo said.

"We've been talking about reusability for nine years. That's where we started from," he said in an interview. "That's not conflicting with what ULA or SpaceX is doing. We're trying to make the top of the rocket reusable, which is the second part of the puzzle. If you can have a totally reusable system, it's totally more cost-effective."

Unlike capsule-style spacecraft, which require recovery after splashdown, DCCS's ability to land on a runway means returning cargo can reach the National Aeronautics and Space Administration within 24 hours, allowing quick access to science and other sensitive materials.

NASA's commercial resupply contract requires cargo to be returned within 14 days.

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Sierra Nevada Space Systems unveils new folding-wing Dream Chaser