FAA approval brings drones closer to reality
Regulators have given the green light to a handful of researchers to begin testing the aircraft.
Jeff Bezos, CEO of Amazon.com (AMZN), revealed one of the company's most secret projects during a segment on CBS' "60 Minutes": un-manned drones used as delivery tools.
Many analysts and pundits immediately doubted the feasibility of Amazon utilizing a fleet of drones to deliver packages to customers. The biggest hurdle was the fact that the Federal Aviation Administration (FAA) does not permit private drones flying in the vast majority of U.S. airspace.
All of this is set to change.
According to The Wall Street Journal, aviation officials on Dec. 30 selected a handful of universities and state agencies to operate sites for drone testing.
The participants chosen include Texas A&M University, the commerce department of North Dakota, the state of Nevada, a public airport 250 miles north of New York City, the University of Alaska and a partnership between Virginia Tech and Rutgers University.
The first site is expected to begin operating within six months.
Research will be conducted to determine firstly if unmanned aircraft is safe. Tests will be conducted across various geographical areas, climates and types of airspace. The end goal is an eventual integration of commercial unmanned aircraft within the U.S. aviation system.
The FAA intends to pursue a "staged integration of unmanned aircraft," according to Michael Huerta, head of the FAA. The agency will "see where the research takes us."
Amazon customers hoping to place an order and wait for a drone to land in their front yard will have to wait a few years.
Commercial drones are unlikely to be approved until 2020 or later. Full scale routine flights by tens of thousands of government and commercial drones aren't expected until at least 2025.
Read more from Benzinga
O Boy, this is gonna be fun! I went to Rutgers and my daughter went to Va Tech. Maybe we can catch a story on the testing.
Maybe when Amazon or Dominos delivers something I could catch my own drone. I bet they don't want people to do that, but I bet people will do it.
Airplanes fly over the house all day long, I wonder if they will deliver at my house?.
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
New legislation is allowing foreign companies to finally invest in the country's vast oil reserves.
VIDEO ON MSN MONEY
Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.
Contributors include professional investors and journalists affiliated with MSN Money.
Follow us on Twitter @topstocksmsn.