Swarm UAS technology is experiencing rapid development due to increasing funding from governments for military end users. This development is bound to generate a spillover effect into the commercial sector, with many improvements in artificial intelligence benefiting commercial end users as well. While the technology is in a nascent stage, several commercial market segments are already testing and applying the concept of drone swarms in their operations. These include agriculture, for the use of mass spraying; forestry, for massive data collection and widespread reforestation; and entertainment, for drone shows. However, while the potential benefits of commercial UAS swarm application are clear, regulatory and technological improvements must take place before swarm use cases experience widespread adoption. Regulations in most countries prohibit or limit the use of more than one UAS simultaneously by a single operator, forcing commercial end users to apply for authorizations in order to start implementing swarm technology. Moreover, businesses remain unaware of the benefits UAS swarms could bring to their operations, further limiting adoption potential in the short term. This report presents information analyzed from Frost & Sullivan data bases, academic papers, commercial drone magazines, and news sites specialized in UAS news and technological developments in drone technology and commercial applications. Frost & Sullivan analysts conducted interviews with industry participants to get deeper insights into UAS swarm technology and its current and potential commercial applications.