DARPA announced a project to launch space planes with hypersonic speed, able to reach orbit at a cost less than one tenth of current orbit-capable vehicles.

The idea is still a concept, but DARPA is always on the edge of the future, and they've given the concept a list of theoretical capabilities.

The Experimental Spaceplane (XS-1) program is slated to be fully reusable and capable of spur-of-the-moment jaunts into low orbit. It will be capable of launching small to medium sized satellites all by its robotic self. According to project manager Jess Sponable:
"How it's configured, how it gets up and how it gets back are pretty much all on the table — we're looking for the most creative yet practical solutions possible."
Will XS-1 materialize? We'll see.

Via DARPA