rocket
noun [ C ]
uk/ˈrɒkɪt/ usa large cylindrical object that moves very fast by forcing out burning gases, and that is used for space travel or as a weapon:
launch/fire a rocket
rocket
verb [ I ]
informal uk/ˈrɒkɪt/ us(also skyrocket)to increase extremely quickly or make extremely quick progress towards success:
Fuel prices have rocketed in recent months.
rocket up Public spending is rocketing up this year.
rocket to sth Crude oil prices rocketed to $40 a barrel, sending stock markets plunging.