It currently takes over eight hours to travel from the British capital to the US state but that could be slashed by over half by 2025 if the Boom Supersonic jet goes into production.
Speaking at the Dubai Air Show, Blake Scholl, founder of Boom Supersonic, said: "Think about for a moment the families that are separated because of the long flights. Think about the trips not taken because when you add up the lost hours, the trip just doesn't feel worth it. That's where we come in.
"We are a team of engineers and technologists, brought together for the sole purpose of making our world dramatically more accessible. You won't have to be on the Forbes' list to be able to fly, it will cost about the same as flying business class today.
"The ultimate goal is to make supersonic affordable for anyone who flies. This aircraft will be as quiet as the ones flying around the airports today. It will be significantly quieter than Concorde."
The Boom Supersonic - which can carry up to 55 people - would be able to travel at 1,687mph, which is 100mph quicker than Concorde.
Richard Branson, founder of Virgin Group, backs the project.
He said at the time it was announced: "I have long been passionate about aerospace innovation and the development of high-speed commercial flights. As an innovator in space, Virgin Galactic's decision to work with Boom was an easy one."
Scholl had previously revealed he was keen to keep the price affordable and wouldn't want people to pay more than they do for business class.
He said: "The idea is for a plane that goes faster than any other passenger plane built before, but for the same price as business class."