The world's first practical jetpack developed by a New Zealand company Martin Jetpack will be hitting the stores in few months from now.

 The jetpack concluded a grueling seven-minute outside test flight and is expected to hit stores by the end of 2011 and is likely to be priced around £50,000 ($75,000) per machine, the Daily Mail reported.

'Simplest aircraft in the world' the Martin Jetpack will be a breeze to fly, inventor Glenn Martin told the publication.

You just strap it on and rev the nuts out of it and it lifts you up off the ground. 'It's just basic physics. As Newton said, for every action there is an equal and opposite reaction. So when you shoot lots of air down very fast you go up and you're flying, Martin added.

The makers of the jetpack have already signed up 2,500 people to buy the products and enquiries are coming from Middle Eastern royalty and U.S. millionaires, report said.

The jetpack consists of a purpose-built gasoline engine driving twin ducted fans that produce sufficient thrust to lift the aircraft and a pilot in vertical takeoff and landing, enabling sustained flight.

The Martin Aircraft Company, which worked on the project, was founded in 1998 specifically to develop a jetpack that could fly 100 times longer than the 26 seconds of the Bell Rocket Belt, built in the early 1960s.