Rocket propulsion operates by expelling mass at high speed to generate thrust, following Newton's third law of motion. The rocket equation, M*delta(V)=delta(m)*Ve, illustrates the relationship between the rocket's mass, its change in velocity, the mass expelled, and the exhaust velocity. To increase speed, a rocket must either reduce its mass or enhance the exhaust velocity, necessitating large fuel reserves. The process involves pushing exhaust gases in one direction to propel the rocket in the opposite direction. Understanding these principles is essential for grasping how rockets navigate through space.