People who've been hoping for hovering vehicles seen in the classic "Back to the Future" films are in luck.

A UK-based firm named Malloy Aeronautics is in the process of developing one.

It's only a drone now but will eventually be made bigger to accommodate human riders; a hoverbike. 

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This future hoverbike is based on the existing technology of the quadcopter.

Managing Director Chris Malloy has developed and manufactured a quadcopter model that is one third the size of the envisioned hoverbike.

The small drone model served to gain the attention and support of investors through the crowd-funding program, Kickstarter.

A quadcopter is a vehicle that uses four rotors to lift itself off the ground.

Asked on why the design shifted from a bi-copter to a quadcopter, Malloy said controlling the vehicle using four rotors is much more efficient and cheaper now.

Malloy sees the quadcopter as eventually replacing helicopters. He says the quadcopter is much safer than a helicopter, as the propeller blades are protected from the obstacles on the ground and in the air.

"And it's built to be robust," Malloy added, "and be flown in environments that would present problems to a typical helicopter."

The team says the quadcopter will be affordable, making it useful for farmers, rescue teams, emergency services and for loading cargo in confined spaces.

While the hoverbike has never been built before, Malloy and his team have stated they aren't doing anything new. They haven't developed any new component or system.

Instead, they labeled it as the combination of existing systems used to create something great.

Malloy said their goal is to "produce an extremely reliable helicopter, designed with rugged simplicity at it's heart and true pilot safety built into the design and operation of the aircraft."

The quadcopter drone is currently available if you donate to Kickstarter until the end of August. People can get the drone if they donate some UK £595.

TagsChris Malloy, Hoverbike, Quadcopter