When you hear the word "drones," what comes to mind?
For many, the answer is distant battlefields and controversial headlines. But if the news coming out of Alaska this week in any indication, drone technology might soon spell "profit" for forward-thinking investors.
In what many industry commentators are hailing as a landmark development, BP (NYSE: BP ) recently announced that it had received government approval to use commercial drones to monitor its Alaskan oil operations over the course of the next five years. The project, which BP is carrying out through a contract with drone industry leader AeroVironment (NASDAQ: AVAV ) , represents the FAA's first-ever approval of a large-scale commercial drone initiative.
It also, perhaps more importantly, represents the first of what could be many milestones for a non-military drone market that some researchers believe could grow to upwards of $400 billion.
Watch below as Motley Fool technology analyst Lyons George discusses what's going on in the high-flying drone industry...and why growth investors might want to get in sooner than later.
Are you ready for this $14.4 trillion revolution?
Have you ever dreamed of traveling back in time and telling your younger self to invest in Apple? Or to load up on Amazon.com at its IPO, and then just keep holding? We haven't mastered time travel, but there is a way to get out ahead of the next big thing. The secret is to find a small-cap "pure-play" and then watch as the industry -- and your company -- enjoy those same explosive returns. Our team of equity analysts has identified one stock that's ready for stunning profits with the growth of a $14.4 TRILLION industry. You can't travel back in time, but you can set up your future. Click here for the whole story in our eye-opening report.