Enter Details

Comment on stories, receive email newsletters & alerts.

This is your permanent identity for Business Insider Australia
Your email must be valid for account activation
Minimum of 8 standard keyboard characters


Email newsletters but will contain a brief summary of our top stories and news alerts.

Forgotten Password

Enter Details

Back to log in

Jetpack maker Martin Aircraft's shares are soaring on a deal with a Chinese company

The jetpack. Picture: Martin Aircraft

Shares in Martin Aircraft, the New Zealand jetpack manufacturer, jumped on a deal with a Chinese aviation company.

At the Paris Air Show, Martin’s joint venture company, KuangChi Science Martin Jetpack Ltd, has signed a co-operation agreement with Beijing Voyage Investment, a subsidairy of AVIC, for the intended future delivery of manned and unmanned Jetpacks, simulators and models.

China is one of the fastest growing markets for aviation.

The agreement aims to promote the Martin Jetpack and generate exhibition sales and after sales services in China.

Martin CEO Peter Coker said: “This is an important milestone for Martin Aircraft. AVIC is an established aircraft provider in China and having such an agreement opens up the China market to the future use of the Jetpack.”

The latest jetpack model, which has attracted interest from the Department of Homeland Security in the US, can fly 800 feet high at speeds of up to 74kmh for around 30 minutes.

The company’s shares closed up 21.7% to $0.925.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at