An Australian mechanical designer has finally made the dreams of every Star Wars fan come true: he's built a real life Hoverbike. Chris Malloy, an Australian mechanical designer has been building the Hoverbike in his garage for the past two and half years and now it's ready to go to production.

The prototype Hoverbike is made of Kevlar reinforced carbon fiber with a foam core frame and is powered by an 1170cc 4 stroke engine capable of giving 80kW to the two giant propellers. The propellers lift the bike using the same principles as a Chinook helicopter.

Customers wanting to fly around their personal hoverbikes will have to wait awhile to get their hands on this unique form of transportation. Aside from hovering while still tied to ground the prototype still has to be fully tested. Malloy swears that the bike will be able to travel at upwards to 170 mph and that users can take it up to 10,000 feet or even higher if you bring your own oxygen. Who needs flying cars when you can have this bike?

Interested buyers will take comfort in the fact that Malloy hopes to get the hoverbike into limited production within a year and then into full production two years later. It won't cost a fortune which is a surprise; the Hoverbike is estimated to cost about $40,000 though it is expected to drop should it be successful enough. There's no need to apply for a pilot's license as the Hoverbike is considered to be an ultra light although should this bike become popular enough some form of regulation will have to be set-up. Drunk driving on this machine will be a nightmare; can you imagine crashing through someone's roof?