The driver who plowed into pedestrians celebrating the New Year in New Orleans, killing at least 10 people and injuring dozens, is dead following a shootout with police.

Several sources have revealed that the man who drove his truck into the crowd on Bourbon Street was killed after he exited his vehicle and started shooting.

The gunman - whose identity has not yet been released - injured two NOLA police officers during the shootout, who are in stable condition.

Officials have not revealed any details about the gunman who killed at least 10 people early on Wednesday - but witnesses claim the suspect was 'wearing full body armor' and 'armed with an assault rifle.'

The suspect rammed into the large group at high speed, then got out and started firing a weapon, witnesses said.