Answer:
Meteoric is simply the word meteor with the English suffix -ic added. This suffix characterizes the word as having meteor-like qualities. Meteors zip across the sky very quickly, usually leaving a lighted trail behind, so something with meteoric qualities might be thought of as being flashy, but short lived like a young rock star's career. As well it could refer to droplets of carbon found in the bottom of a blast-furnace, which tend to have bubbled surfaces and form irregular globs, thus physically resembling a meteor.
Exempli gratis:
The worker shoveled the meteoric-like scrap from the base of the furnace while sadly reflecting on his meteoric rise and fall in the music industry.