Rocket Lab won't be launching its Electron rocket anytime soon.

The company announced it was standing down from their "It's Business Time" launch window following identification of an issue with motor controller behaviour during pre-launch checks yesterday.

The 14-day launch window for Rocket Lab's "It's Business Time" mission had been slated for 23 June to 6 July.

Peter Beck, Rocket Lab founder and CEO, said the team will take additional time to review data before confirming a new launch window.

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"Our test program was about making it to orbit and deploying our first customer satellites. Having achieved that and moved into commercial operations, mission assurance is our focus for every customer flying on Electron," Beck said.

"There's only one measure that matters in the launch industry and that's 100 per cent mission success. We'll take some time to review the data and tweak whatever we need to ahead of a new launch window to make sure we achieve that."

In a statement, Rocket Lab said "the motor controller behaviour was similar to that previously identified during wet dress rehearsal operations in April."

"This issue was analysed and corrective measures [put] in place, however a similar issue presented during yesterday's pre-launch operational checks. All systems had previously performed nominally during a wet dress rehearsal on 16 June."

A motor controller is a device that governs commands given to selected hardware and software systems throughout the launch vehicle.

The issues experienced during April's wet dress rehearsal forced the cancellation of "It's Business Time's" originally slated launch window of April 20 to May 3.