Nano technology seems to be the next area to look at for cloaking. Please see the following and visit the Drone Research Team website for more information.
http://www.coasttocoastam.com/article/video-invisibility-cloak
http://idealab.talkingpointsmemo.com/2011/10/invisibility-cloak-demonstrated-using-transparent-carbon-nanotube-sheets.php
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