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By Alicia Adamczyk
March 25, 2016
Alex Salcedo—Getty Images/iStockphoto

Looks like drones are the new hoverboards.

The number of drones circulating overhead is expected to triple in the next four years, according to the Federal Aviation Administration’s aerospace forecast for 2016 to 2036. The FAA estimates hobbyist and commercial drones in the U.S. will increase from 2.5 million to 7 million by 2020.

Recreational drones alone are expected to hit 4.3 million by 2020, and to ensure they don’t cause problems, pilots must register with the FAA. So far, 400,000 people have. On the commercial side of things, agriculture, insurance, real estate, and photography are expected to use them for business needs.

It’s unclear how this will mesh with bans (or proposed bans) in cities across the country, including in Chicago, New York, and Syracuse, among others. “The number of small UAS [unmanned aircraft systems] forecasted is highly uncertain and is dependent on the regulatory structure ultimately adopted,” the report reads. “Once a final rule for small UAS is published, they will become more commercially viable than they are today.”

This year’s hottest tech device will put you back a bit more than a hoverboard, though: the FAA estimates drones will range in price from $2,500 to $40,000.

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Our mission is to help people at any stage of life make smart financial decisions through research, reporting, reviews, recommendations, and tools.

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Our content is free because our partners pay us a referral fee if you click on links or call any of the phone numbers on our site. If you choose to interact with the content on our site, we will likely receive compensation. If you don't, we will not be compensated. Ultimately the choice is yours.

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