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Nanotechnology is the engineering of functional systems at the molecular scale
Nanotechnology Applications in:
Space:   Advancements in nanomaterials make lightweight spacecraft
Medicine
nanoparticles the size of molecules that can deliver drugs directly to diseased cells in your body. 
Electronics
increase the capabilities of electronics devices by reducing their weight and power consumption.
Food
nanomaterials that will make a difference not only in the taste of food, but also in food safety, and the health benefits that food delivers.
Fuels
making the production of fuels from low grade raw materials economical, increasing the mileage of engines, and making the production of fuels from normal raw materials more efficient.
Better Air Quality
It can improve the performance of catalysts used to transform vapors escaping from cars or industrial plants into harmless gasses.
Cleaner Water
Nanotechnology is being used to develop solutions to three very different problems in water quality.
Chemical Sensors
Nanotechnology can enable sensors to detect very small amounts of chemical vapors.
Sporting Goods
nanotechnology applications in the sports arena include increasing the strength of tennis racquets, filling any imperfections in club shaft materials and reducing the rate at which air leaks from tennis balls
Fabric
improvement of fabric properties without a significant increase in weight, thickness, or stiffness

The Meaning of Nanotechnology
When K. Eric Drexler (right) popularized the word 'nanotechnology' in the 1980's, he was talking about building machines on the scale of molecules, a few nanometers wide—motors, robot arms, and even whole computers, far smaller than a cell. Drexler spent the next ten years describing and analyzing these incredible devices, and responding to accusations of science fiction. Meanwhile, mundane technology was developing the ability to build simple structures on a molecular scale. As nanotechnology became an... [continues]

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