*See video below*
The jetpack has a height of five feet, width of five-and-a-half feet and a length of five feet, and features a dual-propeller construction that uses fans to provide lift instead of jets of exhaust gas.
The company's chief executive, Richard Lauder, expects the jetpacks will be sold to a variety of different buyers--from emergency service personnel and private users to the military.
Its fuel capacity is five gallons, but its consumption is ten gallons an hour, which results in an operation time of around 30 minutes on a full tank. FAA regulations limit the maximum speed to 63 mph, which means the furthest a pack can travel on one tank is about 31.5 miles. When empty, the Jetpack weighs 250 pounds and can carry a pilot of over 280 pounds.
The jetpack complies with FAA Ultralight Regulations, and though users will not need a pilot's license to fly the equipment, they will be required to complete Martin's training program before receiving their jetpack. Training for the first ten owners will be held in New Zealand, where the company is headquartered.
Safety features include an internal roll cage, parachute, a proposed "minimal avoidance curve," and no tail rotor or exposed rotors that are often the cause of light helicopter accidents.
The company intends to manufacture 500 packs a year and sell them for 50,000 pounds (around $76,000) each.
See the jetpack in action below: