New space race: 3 companies vie to build space shuttle successor

Last Updated Aug 29, 2014 9:45 PM EDT

HOUSTON - NASA is engaged in a new space race.

The agency says a decision on which company will build its next-generation vehicle to put astronauts in space is imminent. A $4 billion contract is at stake, and that's made for some intense competition.

Boeing is one of three companies competing to build the successor to the space shuttle. It hopes its CST-100 capsule will be chosen to ferry Americans to the International Space Station.

Three companies are competing for the contract to build the new craft that will ferry astronauts to the International Space Station.

CBS News

John Mulholland heads Boeing's program. He knows there's a lot on the line, but he's confident.

"We've got an incredible team. Human space flight has been at our core since day one, all the way back to Mercury, Gemini, Apollo, the shuttle, the station - all Boeing products developed in partnership with NASA," he said

"It's provided a lot of benefit for us to have that experience to bring to this design," Mulholland said.

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New space race: 3 companies vie to build space shuttle successor