空中基建觉醒

Core Insights - The eVTOL (electric Vertical Take-off and Landing) industry is gaining momentum comparable to electric vehicles, large aircraft, and humanoid robots, with significant market potential in China [1][2] - The low-altitude economy is expected to drive industrial upgrades and technological innovation across multiple sectors, similar to the impact of electric vehicles [2][4] - The successful development of the eVTOL market hinges on the establishment of a comprehensive supporting infrastructure [3][5] Industry Overview - The low-altitude economy encompasses three main segments: eVTOL manufacturing, low-altitude operation services, and low-altitude infrastructure [4] - China aims to expand its eVTOL market globally, with a focus on building a robust low-altitude infrastructure [4][9] Market Comparison - As of the end of 2024, China has 475 registered general airports, only 11% of the number in the U.S., with an airspace openness rate of less than 30% [7] - The U.S. has over 5,000 public general aviation airports, highlighting its significant lead in the general aviation sector [8] Competitive Advantages - China's eVTOL manufacturing benefits from a unique industrial chain reuse advantage due to similarities with electric vehicles in battery, motor, and control technologies [9] - The country leads in 5G technology, which is crucial for communication and tracking of eVTOLs in densely populated urban areas [9] Infrastructure Development - The low-altitude infrastructure is seen as a critical market segment, with various industries such as agriculture, healthcare, and tourism expected to benefit [10] - Key players in low-altitude infrastructure include state-owned enterprises and innovative companies, with local governments beginning to allocate funds to this sector [11][13] Regional Initiatives - Guangdong has made significant progress in low-altitude infrastructure, completing the first eVTOL cross-city flight demonstration [15] - Cities like Hangzhou and Hefei are actively developing eVTOL operations and infrastructure, with Hefei recently obtaining the world's first operational qualification for a manned drone [13][15] Market Growth Projections - Goldman Sachs identified three high-growth sub-sectors within the low-altitude economy, with vertical take-off and landing airport services projected to grow at a compound annual growth rate of 39% [17] - The low-altitude economy market in China is expected to exceed 2 trillion yuan by 2030, with current infrastructure and flight support accounting for only 5% of the market [17] Infrastructure Components - Low-altitude infrastructure includes ground facilities such as general airports, vertiports, and charging stations, as well as airspace management systems [22][23] - The air traffic management (ATM) system is crucial for managing air traffic and ensuring safety [25] Key Players and Innovations - Companies like EHang and CATL are collaborating to develop eVTOL aircraft and charging infrastructure [29] - Domestic companies are increasingly replacing foreign firms in the air traffic management sector, with significant advancements in automation and monitoring systems [30][36] Technological Advancements - The integration of 5G-A technology is pivotal for the development of low-altitude infrastructure, enabling enhanced communication and data transmission for eVTOL operations [48][51] - Major telecommunications companies are actively developing low-altitude communication networks to support the growing eVTOL market [58][60] Future Outlook - The low-altitude infrastructure sector is still in its early stages, facing challenges such as compatibility issues and isolated developments [66][67] - The demand for drone countermeasures is anticipated to grow, with the global market projected to reach $10.3 billion by 2030 [68] - The competition in low-altitude infrastructure is intensifying, with a mix of state-owned enterprises, tech giants, and startups vying for market share [69][70]