兴业证券：多方通力合作下低空经济产业加速发展 看好eVTOL产业链的长期潜力

Core Viewpoint - The low-altitude economy is entering a period of explosive growth driven by both policy and technology, with a projected market size of over one trillion yuan by 2030 as outlined in the "General Aviation Equipment Innovation Application Implementation Plan (2024-2030)" [1][3] Group 1: Definition and Scope - Low-altitude refers to the vertical distance below 1,000 meters from the ground, which can extend to 4,000 meters based on regional characteristics [2] - The low-altitude economy encompasses various manned and unmanned aerial activities, primarily driven by the general aviation industry and the drone sector, with applications in logistics, agriculture, and tourism [2] Group 2: Government and Institutional Support - The central government has provided clear support for the development of the low-altitude economy through initiatives like the establishment of the "Low Altitude Economic Development Department" and the issuance of relevant implementation plans [3] - Local governments are increasingly emphasizing low-altitude economic construction in their work reports, transitioning from initial exploration to comprehensive ecosystem development [3] - The military has streamlined air traffic control and simplified processes for non-sensitive airspace, facilitating commercial activities such as logistics and inspections [3] Group 3: Technological Advancements and Market Players - The eVTOL (electric vertical takeoff and landing) technology is highlighted for its advantages, including lower noise, reduced costs, and the ability to take off and land vertically, eliminating the need for traditional airports [4] - Ground infrastructure, such as vertical takeoff and landing airports, is crucial for the eVTOL application, requiring advanced technologies like 5G and Beidou navigation for air traffic services [4] - Key listed companies involved in the low-altitude economy include Sujiao Technology, Shenzhen Urban Transport, CITIC Offshore Helicopter, and others engaged in various aspects of the industry [5]