NASA’s revolutionary Webb Telescope being assembled.
The James Webb Space Telescope (JWST), previously known as Next Generation Space Telescope (NGST), is a flagship-class space observatory under construction and scheduled to launch in October 2018. The JWST will offer unprecedented resolution and sensitivity from long-wavelength (orange-red) visible light, through near-infrared to the mid-infrared, and is a successor instrument to the Hubble Space Telescope and the Spitzer Space Telescope. While Hubble has a 2.4-meter (7.9 ft) mirror, the JWST features a larger and segmented 6.5-meter (21 ft) diameter primary mirror and will be located near the Earth–Sun L2 point. A large sunshield will keep its mirror and four science instruments below 50 K (−220 °C; −370 °F).
More here. The image below is a mock-up with the JWST team.