The gadget will sell for £299 when it arrives on August 18th and its four independent blades allow for impressive levels of dexterity in the controls, with direct responses achieved using the iPhone's accelerometers.
The drone also has augmented reality technology onboard, which allows it to images of its environment using two cameras and then overlay a virtual course to give users something to fly around.
Parrot is hoping that third party developers will become involved and provide software for the AR.Drone in the future, which could mean that its software catalogue and appeal will grow over time.
The app that is included in the price of the purchase will work with both the iPhone and iPod Touch and Parrot has said that it is hoping to bring other smartphone manufacturers on-board to allow its potential user base to expand.
The AR.Drone and the iPhone communicate via Wi-Fi and it has an estimated range of 50 metres. Owners will be able to take to the skies on their own, or alternatively find other well-off gadget lovers to create some impressive aerial battles.