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The first mention in the historical record of the concepts behind surface-effect vehicles that used the term hovering was by Swedish scientist Emanuel Swedenborg in 1716. Wikipedia.
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The shipbuilder Sir John Isaac Thornycroft patented an early design for an air cushion ship / hovercraft in the 1870s, but suitable, powerful, engines were not available until the 20th century. Wikipedia.
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In 1915, the Austrian Dagobert Müller (1880–1956) built the world's first "air cushion" boat (Luftkissengleitboot). Wikipedia.
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The theoretical grounds for motion over an air layer were constructed by Konstantin Eduardovich Tsiolkovskii in 1926 and 1927. Wikipedia.
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In 1929, Andrew Kucher of Ford began experimenting with the "Levapad" concept, metal disks with pressurized air blown through a hole in the center. Wikipedia.
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In 1931, Finnish aero engineer Toivo J. Kaario began designing a developed version of a vessel using an air cushion and built a prototype Pintaliitäjä (Surface Soarer), in 1937. Wikipedia.
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During World War II, an American engineer, Charles Fletcher, invented a walled air cushion vehicle, the Glidemobile. Because the project was classified by the U.S. government, Fletcher could not file a patent. Wikipedia.
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Cockerell came across the key concept in his design when studying the ring of airflow when high-pressure air was blown into the annular area between two concentric tin cans, one coffee and the other from cat food and a hair dryer.
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In 1958, the NRDC placed a contract with Saunders-Roe for the development of what would become the SR.N1, short for "Saunders-Roe, Nautical 1".
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In 1958, he suggested the use of two rings of rubber to produce a double-walled extension of the vents in the lower fuselage. When air was blown into the space between the sheets it exited the bottom of the skirt in the same way it formerly exited the bottom of the fuselage, re-creating the same momentum curtain, but this time at some distance from the bottom of the craft.
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The SR.N1 made its first hover on 11 June 1959, and made its famed successful crossing of the English Channel on 25 July 1959.
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During the early 1960s he developed a series of prototype designs, which he called "terraplanes" if they were aimed for land use, and "naviplanes" for water. The best known of these designs was the N500 Naviplane, built for Seaspeed by the Société d'Etude et de Développement des Aéroglisseurs Marins (SEDAM).
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Instead of using two separate rubber sheets to form the skirt, a single sheet of rubber was bent into a U shape to provide both sides, with slots cut into the bottom of the U forming the annular vent. When deforming pressure was applied to the outside of this design, air pressure in the rest of the skirt forced the inner wall to move in as well, keeping the channel open.
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With the introduction of the 254 passenger and 30 car carrying SR.N4 cross-channel ferry by Hoverlloyd and Seaspeed in 1968, hovercraft had developed into useful commercial craft.