An NZ-based company is drumming up funds to make every ten-year-old’s dream come true; developing the world’s first practical, commercial jetpack.

The chief of Martin Aircraft Company will meet with possible backers in Sydney this week, presenting two information sessions to provide interested investors an insight into the possible future of travel – the jetpack.

Martin Aircraft CEO Peter Coker is looking to take the company’s prototype into full-scale production and to launch as a public entity.

The Martin Jetpack is powered by a four cylinder 200 horsepower engine driving two ducted fans. Tests flights have flown to a height of 1,500 metres and at speeds of up to 74km/h.

The company hopes to offer its first personal jet-powered aircraft for sale this year. It says the unit will be most suitable for a government and emergency authorities. It will be pitched as an excellent “first responder” transport for fire services, search & rescue, disaster recovery and border security.

The company says jetpacks will be useful in areas that currently employ small-scale flying craft, such as the mining, energy, and agricultural industries.

Some concerns remain as to how members of the general public will justify the purchase of the clearly awesome device, though it would most certainly enhance the journey to work, ending the hassle of toll bridges and traffic jams.

The most recent prototype is demonstrated in the following video;