One prototype with an engine built by British engineering specialist Prodrive, is a petrol-fuelled car which works on the roads and in the air.
The Aeromobil has a top speed of 99mph on the ground but could travel as quickly as 223mph in the air.
Japanese engineers are working rigorously on small flying cars with the aim of using one to light the Olympic flame at the 2020 Games in Tokyo.
Costing £1.1million, the car is 5.9meters long and 2.2meters wide, while it has the ability to seat two people.
There is also space under the bonnet for luggage weighing up to 20kg, enough for a small suitcase or two.
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The flying car is not going to be cheap, however, but if you do not have £1million to hand, Dutch company Pal V has created a vehicle which converts from a motorcycle into a gyrocopter in ten seconds.
It is due to sell for between £300,000-£440,000.
Many companies have created cars which are capable of becoming airborne.
Earlier this year an electric flying car made its maiden test flight in Germany.
Inspired by a “perfectly aerodynamic teardrop shape”, the cars have a glass cockpit with an interior swathed in the “finest leather” for style and comfort.
Prodrive is accepting orders for the cars but is only producing a limited number of units.
The Aeromobil still requires a runway to take off, too, making it impractical for drivers without an airstrip in their back garden and drivers will need both a pilot’s licence and a driver’s licence to fly it.