Honda has been showing off its first ever aircraft at EAA AirVenture Oshkosh, saying that the jet should fly by the end of the year.

The HondaJet is the first venture into aviation for Honda, more commonly known for its cars and motorcycles, with the brand saying that it incorporates many technological advances in aviation design.

Among them are engines that are mounted above the wing instead of below, which Honda says significantly reduces drag (improving fuel efficiency), cuts noise pollution on the ground and creates additional space in the aircraft cabin.

Like the new Boeing 787 Dreamliner, it also features a composite fuselage, which is both lighter and stronger than the traditional alloys used for the main section of the aircraft.

Inside, the HondaJet is decked out with a leather interior, with "exceptional leg room" and "unique lavatory features" in chrome and blue.

Honda says that the factory for the new jet will be completed in early 2011 so that the aircraft can be delivered to its first customers in the third quarter of 2012 with a price tag of $4.5 million (€3.46 million).

The EAA AirVenture Oshkosh runs through August 1 in Oshkosh, Wisconsin, USA.