Meteors burn up and become shooting stars.

Literal

Meteorite [subject-が] burns, meteor [locative-に] becomes.

A science sentence distinguishing two astronomy terms. 隕石 (いんせき) is 'meteorite' — the rock itself. 流星 (りゅうせい) is 'meteor, shooting star' — the streak of light as the meteorite burns up in the atmosphere. The sentence technically conflates the two (a meteorite usually doesn't burn completely; a meteor is the luminous phenomenon of the atmospheric burn). ~となる is a formal variant of ~になる.