At the time of its launch in 1990, the Hubble Space Telescope had cost $1.5 billion to develop and construct. Additional costs were incurred to service the Hubble, the first space-based telescope, once it was placed in low Earth orbit.
Named for American astronomer Edwin P. Hubble, the Hubble telescope suffered from a major flaw with its mirror that was not discovered until after its launch. The first of five service missions to the Hubble took place in 1993, during which astronauts installed a new camera and corrected the flawed mirror. The James Webb Telescope is scheduled to replace the aging Hubble in 2018.