EHang(US:EH) QYResearch·2025-11-07 08:55Core Viewpoint - The article discusses the development and potential of the low-altitude economy, particularly focusing on the eVTOL (electric Vertical Take-Off and Landing) industry, which is expected to grow significantly in the coming years due to technological advancements, economic factors, and supportive policies [2][10][19]. Industry Overview - The low-altitude economy refers to economic activities conducted below 1000 meters, utilizing various aircraft such as drones and eVTOLs for transportation, logistics, tourism, and more [2]. - The eVTOL industry is characterized by its innovative electric propulsion systems, low noise, zero emissions, and high flexibility, making it suitable for urban air mobility, logistics, emergency rescue, and tourism [4][10]. Market Size and Growth - According to QYResearch, the eVTOL market is projected to reach $14.8 billion in 2024, $31 billion in 2025, and $149.79 billion by 2031, with a compound annual growth rate (CAGR) of 43% from 2025 to 2031 [10]. - North America and the Asia-Pacific region are the primary production areas, accounting for nearly 80% of total output, with North America currently holding the largest market share at approximately 34% [10]. eVTOL Industry Chain - The eVTOL industry chain consists of upstream (raw materials and key components), midstream (aircraft design and manufacturing), and downstream (operational services and applications) segments [7][9]. - Key players in the upstream include companies like Toray and CATL, while midstream manufacturers include EHang and Joby Aviation, with EHang being one of the first to achieve commercial production [8][9]. Applications of eVTOL - eVTOLs have diverse applications, including urban air transportation, logistics delivery, public services, tourism, agriculture, and military operations [15]. - The technology is expected to evolve, with advancements in battery technology and materials leading to improved performance and cost-effectiveness [16][19]. Future Development Drivers - Technological advancements, particularly in battery technology and materials, are expected to enhance eVTOL performance, with solid-state batteries and lighter materials being key areas of focus [16][19]. - Economic factors, such as lower infrastructure costs compared to traditional airports, will make eVTOL a more attractive option for transportation [16][17]. - Supportive government policies and regulations are being established globally to facilitate the growth of the eVTOL industry, with China actively promoting low-altitude economic development [17][18]. Conclusion - The eVTOL market is anticipated to expand significantly over the next 5-10 years, driven by technological innovations, consumer acceptance, and strategic investments, despite facing challenges related to technology, costs, and competition [19].