Unmanned aerial vehicles (UAVs) have enormous potential in enabling new applications in various areas, ranging from military, security, medicine, and surveillance to traffic-monitoring applications. Lately, there has been heavy investment in the development of UAVs and multi-UAVs systems that can collaborate and complete missions more efficiently and economically. Emerging technologies such as 4G/5G networks have significant potential on UAVs equipped with cameras, sensors, and GPS receivers in delivering Internet of Things (IoT) services from great heights, creating an airborne domain of the IoT. However, there are many issues to be resolved before the effective use of UAVs can be made, including security, privacy, and management. As such, in this paper we review new UAV application areas enabled by the IoT and 5G technologies, analyze the sensor requirements, and overview solutions for fleet management over aerial-networking, privacy, and security challenges. Finally, we propose a framework that supports and enables these technologies on UAVs. The introduced framework provisions a holistic IoT architecture that enables the protection of UAVs as “flying” things in a collaborative networked environment.