I'm not sure how Hemiless did it, but you will need Adobe Photoshop or an equivalent raster program.
Since this is all 72 dpi and not hi-resolution, I'm doing this the easy way.
Get your rocket photo and duplicate the base layer.
Fill the base layer photo with white so you can see what your erasing on the copied layer.
Take the eraser tool and outline your rocket, select the cutout rocket with the lasso tool and copy it. The white you see is the white base layer, there is no color in that area on the layer you erased. It should look like this when you copy it.
Next, find a nice space image.
www.nasaimages.org is an excellent source. Since the model I'm using is a pseudo sounding rocket, I'm going for the edge of the atmosphere.
Paste your rocket on top of the photo layer, then angle and size it to your satisfaction. If you're familiar with Photoshops tools you can have a bit of fun by adding exhaust, etc. on layers underneath the rocket. This is a quickie:
This is my '69 Centuri Javelin w/o decals. It's my second build since becoming a BAR. I hope this was helpful. Hemiless is on to something and I'm afraid I'm going to have to copy his format as it's a nice way of showcasing a rocket. Thanks Hemiless.