Iron Man jetpacks to make human-flight possible

Martin Jetpack. (Photo/nandu.com)

(ECNS) -- The manufacturer of the Martin Jetpack, a world first, began trading on the Australian Securities Exchange after securing investment from Chinese aerospace group KuangChi Science.

KuangChi Science, based in Shenzhen of South China's Guangdong province, has become the largest shareholder in Martin Aircraft Company Limited (MJP). After completion of the transaction and full conversion of warrants into shares, KuangChi will hold a 52 percent stake in MJP and have controlling rights.

KuangChi Chairman Liu Ruopeng said that to produce 'Iron Man' jetpacks has always been the dream of any human being, according to Xinhua news report.

About 80 percent of Martin Jetpack buyers are from the United States, according to KuangChi Science.

The device will become an important tactical asset to the police, fire services, defense and natural disaster recovery as well as emergency response organizations.

The latest Martin Jetpack is able to carry a commercial payload of up to 120kg, far more than its competitor, and fly at 35 kilometers per hour at an altitude of 1500 meters.

The first deliveries, scheduled for the second-half of 2016, will be able to fly for over 30 minutes at speeds up to 74km/h and altitudes of up to 1000 meters, with basic versions set to retail from $200,000. 

The Martin Jetpack has a composite structure pilot module that protects the pilot in the event of any incident and a ballistic parachute system that can deploy and safely recover the aircraft from only a few meters above the ground, according to the manufacturer.

Named as one of Time magazine's Top 50 inventions for 2010, the Martin Jetpack has potential usage spanning military, recreational and commercial applications.