The Martin Jetpack has been 30 years in the making and while it is still in the final stages of research and development, it has been successfully tested at low altitudes.
Time said although it looked like a couple of leaf blowers welded together, it was positioning itself as the world's first "practical" jetpack.
Research, Science and Technology Minister Wayne Mapp said the Martin Jetpack had captured people's imagination and was helping put New Zealand innovation in the international spotlight.
"Glenn's breakthrough approach to the use of ultra-high efficient fans and vector control means that he has solved a problem that has beaten everyone else.
"There is no doubt that there will be a wide range of practical applications for the technology he has developed," Dr Mapp said.
The machine has a 200 horsepower, two stroke engine and it is estimated it will be able to fly at 2400 metres with a range of 50km.
Mr Martin, who has been focusing on fine-tuning its safety aspects, is set to run field tests on it next year.
