A favorite of sci-fi writers, the hover craft is one of the coolest fictional technologies that fanboys everywhere perennially pine for. We certainly wanted one. But now, the mythical vehicles could become a reality, thanks to the ingenuity of Chris Malloy, an Australian who has endeavored to build a hoverbike of his own.

Malloy's bike, which uses some of the same tech as a helicopter, is no toy: he estimates that it will be able to get up to 10,000 ft. off the ground and travel at speeds up to 173 mph. Whoa. There's only a prototype so far, but Malloy, a mechanical designer, hopes to have a production model ready in the next few months. He anticipates producing about 100 a year at $40,000 a pop at first. See the full specs at his website and read more about it at Gizmag.