Could also be. However, we already know from the lore suits of power armor are powered by a nuclear core, and earlier on in the gameplay trailer we're shown the player character entering a jetpack-less armor...
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And then, in that same suit of armor, proceeding to turn a Deathclaw into a deadclaw.
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But not before we're treated to an onboard shot of the power armor, and... The core gauge is right there.
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Could the use of our power armor be limited by the need to let the core cool down, or to find more nuclear fuel? I honestly wouldn't mind at all, if the power armor also became the powerhouse it's supposed to be rather than a glorified suit of combat armor.
P.S: another thing I noticed is that apparently you can throw a flare/smoke grenade to call a Vertibird for pickup, and then hop in ride as the gunner.
P.P.S: jetpack seems to be using Action Points.