The Recovery and Return-To-Base European Reusable Micro-Launcher project, part of the European Commission’s H2020 programme, intends to develop a novel reusable micro launcher system to bring independent and cost-effective access-to-space for the European small satellite market. The multi-disciplinary project focuses on the optimization of aerospike tail-first atmospheric re-entry of the MESO vehicle, together with the design and manufacturing of reusable cryogenic tanks, and the effort is divided into two design loops, where each design loop starts from establishing early design decisions and assumptions so that dedicated subsystem work may progress immediately. The multiple design loop approach allows for unsuitable design decisions, or risky and speculative assumptions to be revised or excluded at the project half-way point, thereby acting as a form of risk management. Throughout the work performed in the first design loop several conclusions were reached. The design presented both novel design features, but also critical issues which became better understood as the fidelity of the subsystem designs and mission analysis increased. These issues ultimately lead to the overall system design and CONOPS to be updated for the second loop, with several of the early design choices being modified, especially through the removal of the EDF landing system, based on the results of the first loop. For the second design loop, the design is updated to alleviate the most critical problem drivers, and to improve the system’s ability to fulfil the top-level requirements and objectives. The updated design uses a Mid-Air Catch approach, and leverages on the heritage of the previous design loop, implementing tailored changes based on the outcome of the trade-offs performed at mission and system levels.