UK-based company Malloy Aeronautics is behind the plans to develop the hoverbike, with remote-controlled versions already up and flying.
Based heavily on drone technology, the hoverbike would be powered by four bladed fans concealed in protective casing, with the company hoping it could act like a mini helicopter, but only cheaper and safer.
The first of such designs were created in 2011 when 1200cc motorbike engines were used in an early version, which was flown using motorbike-style controls.
US Military Investing in the Design
Following on from a string of other drone-like creations, the company has relocated some of its resources to the US where it is developing a hoverbike with investment from the US army.
Amid the excitement, a few eyebrows have been raised as to what the potential hoverbike might be used for, particularly with the American military officials keen on the idea.
There have been some concerns that such a design could somewhat replace the role of drones and be used for military and surveillance purposes.
However Grant Stapleton, co-director of Malloy Aeronautics told The Guardian that he hopes the practicality and affordability of the design will mean that a wide range of people would be able live out some of their childhood dreams and purchase a hoverbike.
"We would certainly have a lot more interest in the civilian and humanitarian uses. That's the part that excites me, personally. It's a product that's very versatile, small and inexpensive."
"It can get into places that a regular helicopter wouldn't, and costs a lot less to use. And it's considerably safer, with these ducted fans. If you bump into something, it's not going to cause an accident or cause any damage."
In a teaser to interested parties, the company's website said it is "now taking requests for orders," however people shouldn't get too excited just yet, with the Hoverbike Helicopter still not having an official price or a target date for the first round of deliveries.