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There was a Georgia Tech spinoff that was commercializing something like this: http://www.hizook.com/blog/2012/11/14/robot-dragonfly-techje...

The ornithopter article : http://en.wikipedia.org/wiki/Ornithopter gives some details about such design. In SF, they are also part of Dune lore : http://en.wikipedia.org/wiki/Technology_of_the_Dune_universe...

It's the future! I think that it would be great for agility, and perhaps to mimic insects so the army can use them covertly.

Or to replace the bees (see "Bees Dying" currently on the HN front page) if/when they go extinct