3-D FPS Jetpack game. Outback... outland.. outrun(ners)?
 

(NO NOT TRIBES.) Late 90's game. Maybe early Glide or DirectX support rendering. Windows 95+.

[edit] IT was THIRD PERSON. That's pretty important. [/edit]

It was kind of like Starship Troopers. I believe you fought monsters that looked like Starship Troopers.

But it wasn't an officially licensed game.

You had Jetpacks and they had horizontal bars that came out from your backpack, that then held the jets (so you didn't burn your butt).

It also had squad mechanics I believe. And I think I recall a lot of voice chatter among members, or with the HQ/mission objectives.

I played a demo FOREVER ago on one of those CDs that game with a game magazine, like e.g. Computer Gaming World.

Outwars.