Elon Musk sees a future in which rockets will be able to transport passengers from London to New York in 29 minutes. For the same price as a "full fare economy in an aircraft," he says. Friday, the billionaire tech entrepreneur Musk unveiled his much-anticipated plan to get to Mars at the International Astronautical Congress (IAC) conference in Adelaide, Australia. Musk also revealed his team imagines using the same technology to travel between different places on Earth. He foresees the rockets being able to go anywhere on the planet in less than an hour.

If we are building this thing to go to the moon and Mars, then why not go to other places on Earth as well? Elon Musk CEO of SpaceX and Tesla

"If you build a ship that is capable of going to Mars, well, what if you take that same ship and go from one place to another on Earth," Musk says at the end of the presentation. "We looked at that. And the results are quite interesting."

The rocket could go from New York to Paris in 30 minutes and Honolulu to Tokyo in 30 minutes, says Musk. Sydney to Singapore would take 31 minutes.

"Most of what people consider to be long-distance trips would be completed in less than half an hour," says Musk. The speed is possible because as soon as the rocket leaves the atmosphere, it can move faster than a normal plane, he says. "The great thing about going to space is there is no friction, so once you are out of the atmosphere, it is smooth as silk — no turbulence, nothing. There is no weather, there is no atmosphere and you can get to all, most long-distance places in less than half an hour. And if we are building this thing to go to the moon and Mars, then why not go to other places on Earth as well?" You can watch his full speech below: