以低空场景应用，加速低空万亿蓝海-赛迪顾问

Industry Investment Rating - The report does not explicitly mention an investment rating for the low-altitude economy industry [1][2][3] Core Viewpoints - The low-altitude economy is gaining momentum, with significant policy support and increasing regional enthusiasm for development [3] - The "15th Five-Year Plan" period will see the low-altitude economy transition from manufacturing-driven to a multi-sector integrated development model, with a focus on unmanned, electric, and intelligent low-altitude equipment [3][9] - Low-altitude infrastructure, including communication, navigation, and surveillance systems, is rapidly evolving to support increased low-altitude flight activities [12] - Regional development of the low-altitude economy is uneven, with the majority of industrial resources concentrated in eastern and western China [13][14] - Key regions like Guangdong, Jiangsu, and Sichuan are expected to lead in low-altitude economic development, leveraging their unique industrial strengths and policy advantages [16][17] Industry Overview - The low-altitude economy is transitioning from a manufacturing-driven model to a multi-sector integrated development approach, with a focus on unmanned, electric, and intelligent equipment [3][9] - Low-altitude infrastructure, including communication, navigation, and surveillance systems, is rapidly evolving to support increased low-altitude flight activities [12] - The industry is characterized by a diverse range of low-altitude equipment, including drones, eVTOLs, and hybrid-powered aircraft, with a trend towards electrification and intelligentization [9][23] Regional Development - The majority of low-altitude economic resources are concentrated in eastern and western China, with Guangdong, Jiangsu, and Sichuan emerging as key development hubs [13][14][16][17] - Guangdong is leading in product innovation, particularly in the drone and eVTOL sectors, and is expected to form a comprehensive low-altitude economic model during the "15th Five-Year Plan" period [16] - Jiangsu is leveraging its strengths in smart manufacturing, electronics, and new energy to develop a robust low-altitude industry chain and expand application scenarios [16] - Sichuan, as a pilot province for low-altitude airspace reform, is expected to accelerate its development by integrating industrial resources and policy advantages [17] Enterprise Landscape - As of September 2024, there are over 50,000 low-altitude economy-related enterprises in China, including 118 listed companies, 211 "little giant" enterprises, and 3,991 high-tech enterprises [19] - The drone market is becoming more concentrated, with application innovation being a key competitive factor [19] - The eVTOL sector is in its early stages, with multiple models expected to enter the market during the "15th Five-Year Plan" period, leading to a multi-polar competitive landscape [20] - Industry application enterprises are focusing on specialized capabilities, with a trend towards integrating fragmented application scenarios and developing differentiated product solutions [21] Technological Advancements - Key technologies in the low-altitude economy include power systems, environmental perception, communication networks, and reliability verification, with a focus on electrification and intelligentization [21][23][24] - The development of autonomous flight control systems, based on multi-sensor and multi-source information fusion, is expected to enhance low-altitude flight safety [24] - New aerodynamic designs for low-altitude aircraft, particularly for eVTOLs, are being explored, with a focus on stability and scalability [25] Strategic Recommendations - The report emphasizes the importance of clarifying key relationships, such as between airspace openness and application, market potential, and technological innovation, to ensure the healthy development of the low-altitude economy [26] - It highlights the need to address core challenges, including manufacturing scalability, market maturity, infrastructure development, and regulatory standards, to facilitate large-scale application [27] - The report advocates for a scenario-driven approach to low-altitude economic development, leveraging local resources and integrating various elements to create a sustainable economic cycle [28]