If you’ve ever wondered what the future might be like, just stop and look around. We already have futuristic tech that would blow your socks off. Did you know that our smart phones can instantly translate any text using their cameras?
If you’re struggling to learn a language, or just tired of using Google Maps in a foreign country, don’t fret. Just whip out your phone to understand what’s written in front of you.
Did you also know that scientists can make a video out of human memories? Imagine how useful and valuable this technology is to others. Our memories and experiences are a determining factor in shaping who we are.
So why not let science create a video of exactly who you are? No more sliding through pictures saying ‘remember that time…’ Instead, you just extract the memories straight from your brain.
But, perhaps even more exhilarating is the fact that we finally have jet packs. That is, of course, if you have the money to pay for it.
Martin Aircraft Company Ltd [ASX:MJP] is a New Zealand company bringing jet packs to the mainstream. The company has developed the ‘Martin Jetpack’, which can be used for multiple applications, including search and rescue, military and, of course, recreational uses.
Yet, this morning, Martin Aircraft traded down as much as 23.6%, to 42 cents per share. Shares have since bounced off this low. But how could jet pack shares go down?
Source: Google Finance
The Martin Jetpack
This morning the company released a business update. Martin Aircraft said their ‘principle focus is on completing the Series 1 Martin Jetpack assembly by the end of 2016 with the aim of flight testing, demonstrating and delivering the Series 1 aircraft in early 2017.’
On face value, this is good news. Customers will only have to wait until early next year to receive their jet packs. However, this revised timeline is in fact a delay. Original deliveries have been delayed ‘by complexities with system integration requiring further design analysis,’ the company said.
The jet packs also had to be adjusted to meet certain targets. The Series 1 jet packs will now be modified to the following:
- A range of 15–20 kilometres;
- A flight time of 28 minutes;
- An airspeed of 40km/h and;
- An altitude with 100 kilograms of 2,500 feet above sea level.
Early Series 1 aircrafts will be used to demonstrate their capabilities to customers. This would also likely create market interest, if there wasn’t enough already for a jet pack! Based on prior customer feedback the company is optimistic about revenue generation.
A number of commercial opportunities have already popped up. The company is now exploring potential distributors. And this will hopefully generate future sales. The costs for Series 2 will be higher than anticipated. But these costs should be reduced by scaling up production, reducing the cost per jet pack.
So if you’re a futurist looking to invest, look no further than what we currently have today.
Junior Analyst, Money Morning
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