Amphibious sport plane set to hit market by 2012 (PHOTOS)

The dream to board an aircraft that could land on and take off from water as well as ground could soon be a reality.

The Los Angeles-based ICON Aircraft Company will start manufacturing the flying boat-type amphibious aircraft, ICON A5, by the last quarter of 2012, the company said in a statement.

Having closed a $25 million round of equity funding in June 2011, the light-sport aircraft manufacturer said the round will fund it through the start of production of its A5 amphibious sport plane and completion of the ongoing engineering development program and manufacturing setup phase.

That we were able to successfully raise funds in this time of economic uncertainty demonstrates Icon’s unique and compelling market appeal,” Icon Chief Executive and founder Kirk Hawkins said.

ICON A5 was unveiled in June 2008 and has received overwhelming consumer response since then, with the company nearing 500 aircraft orders, Hawkins said.

A5, which is having rigorous flight testing for last three years, successfully completed test flights in the ocean to assess salt water operations and landing in swells in 2010.

The A5's water performance continues to be exceptional, the company said.

A5 can be launched or retrieved like a boat at a boat ramp, or launched and retrieved on land. It can fly in the air, operate on land and water, and also easy to transport on the road, it reiterated.

Watch a YouTube video of A5 sport plane below. We have also put across a few amazing shots of the ICON A5 amphibious sport plane.