The headline here is less about achieving that particular speed, and more about the ongoing process of flight testing for SpaceShipTwo:
Burt Rutan and Scaled Composites have demonstrated the ability to air-launch a manned vehicle into space (SpaceShipOne) using this airframe and engine tech. From that prototype, Virgin Galactic is developing a craft for commercial, space-tourism use--SpaceShipTwo.
This flight test demonstrates that the first SpaceShipTwo is airworthy and has engine function. The plan is that after more flight testing, that vehicle will actually carry paying passengers. More tests will need to be done, as the craft will need to fly faster and higher, and decelerate safely as well to reach its targets.
Also, it's important to note that Virgin Galactic's vehicles will not be achieving orbit in the near future. Instead they will bring tourists to the "edge of space" where they can experience zero gravity and look down at the globe.
Wired has a more detailed report that's worth peeking at if you're curious:
They hit mach 1.2 and climbed about 10K feet under their own power(46 to 56 thousand feet). So yeah a little underwhelming in what was accomplished. However it was the first test flight of the whole package so it is unsurprising they kept the goals modest.
I think you're looking for the 666 rule which I can't find a link to, but its an engineering rough estimate that mach 6 at 60 kft is 6% of the way to orbit (from an energy perspective). It comes up a lot in back of the envelope type debates about overall system / stage design and performance. Note that 6% of the way to orbit sounds pitiful for a first stage but it actually has a pretty big effect on available payload and nozzle design of the second stage and reusability of the first stage and all that. SSTO is tough, but sticking something close to a SSTO on top of a 666 booster helps a surprising amount.
On the other hand in aerospace its unusual to bolt the first prototype together then just punch it and see what happens, like a drag racer driver. Smallest reasonable steps and all that.
SST is not designed for orbital flights, nor will it used for that, so I don't know how it's that relevant to talk about how much close it is to orbital speeds.
I'm also quite curious. I wasn't really aware of this project but all in all this seems a lot less interesting than what SpaceX is working on. I know the two have very different goals but this seems like the touristy equivalent of the Mercury program.
FYI, "Virgin Galactic is a company within Richard Branson's Virgin Group which plans to provide sub-orbital spaceflights to space tourists, suborbital launches for space science missions and orbital launches of small satellites. Further in the future Virgin Galactic hopes to offer orbital human spaceflights as well."
So, yes, this is the touristy equivalent of the Mercury program. Then comes the touristy equivalent of the Gemini program. Then perhaps the touristy equivalent of the Apollo program.
I can see how that might not be exciting. There's plenty of people who are excited about supersonic military aircraft than 737s, even though 737s fly a lot more passengers.
As to this flight, it's an integration test. Going through the sound barrier is a crucial requirement for the overall flight mission.
Virgin Galactic is essentially the commercialization of the Spaceship One technology, which won the Ansari X-Prize. The two companies are focused on different by IMHO equally interesting areas. Space X is focused on heavy launch vehicles for commercial payloads while Virgin Galactic is focused on manned suborbital (and hopefully eventually orbital) travel.
If you think that Space X is only about heavy launch for commercial payloads, you misunderstand what Space X is trying to do.
True, Space X has only been rated for delivering commercial cargo. But from the start their Dragon has had a crew configuration that holds 7 people. That's not just for show - they have plans to be human rated soon, and will start delivering passengers to the ISS.
Farther down the road, Elon in interviews has said that his road map includes transporting 80,000 people from Earth to Mars to start a colony. I do not know what time frame he intends this to happen in, but he's said repeatedly that he intends to be a passenger.
For Space X, delivering commercial payloads is a necessary first step similar to how Tesla needed to deliver sports cars on its way to proving the technology that they intend for a mass consumer car. According to people that I know who have worked at Space X, they ignored the Ansari X-Prize because the important engineering challenges aren't getting into space - that part is relatively easy - it is getting into space in a vehicle that will survive reentry at orbital speeds. I don't know if this belief is right, but if it is then Virgin Galactic is potentially headed down a technological dead end.
It's a reusable, manned sub-orbital rocket. That's a new thing. It'll allow low-cost sub-orbital tourist flights. If there's demand for it then it'll be a great way to fund development for reusable, manned rockets.
Branson is very good at 'blowing his own trumpet'.
All he seems to doing on this project is providing money and grabbing as much publicity as he can, Burt Rutan's people seem to be the ones doing the real work.
Yes, fortunately most of us understand the importance of publicity when trying to build a new business, especially one where your clients aren't going on a ride at Disney World.
I'm sure Richard Branson understands Burt Rutan's contributions. He, however, needs to sell tickets.
> All he seems to doing on this project is providing money
How do you propose this would happen without Branson's investment? Space tourism seems like a pretty risky business proposition to me, and I think he deserves credit for backing it with actual money, rather than words.