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Shares in this jetpack maker are going nuts on news it will demo for the US military

The Martin Aircraft jetpack. Supplied.

Martin Aircraft’s jetpacks are on the way to the US to be shown to the Department of Homeland Security and the armed forces.

The New Zealand ASX-listed company signed a memorandum of understanding with US-based AvWatch to demonstrate the jetpack’s capabilities.

Shares in Martin Aircraft jumped 9% on the news to $0.735.

The deal includes the delivery to the US of three manned Jetpacks, three unmanned Jetpacks and a simulator. It will also include initial training services and after sales support.

The two companies are looking at the first responder sector, including search and rescue, security, police, ambulance, fire and disaster recovery.

Martin Aircraft CEO Peter Coker says the North American Market presents excellent opportunities for the jetpack.

The latest jetpack model can fly 800 feet high at speeds of up to 74kmh for around 30 minutes.

Last month the business announced a deal with a Chinese aviation company. At the Paris Air Show, Martin’s joint venture company, KuangChi Science Martin Jetpack Ltd, signed a co-operation agreement with Beijing Voyage Investment, a subsidairy of AVIC, for the delivery of manned and unmanned Jetpacks, simulators and models.

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