21世纪经济报道记者 林典驰 深圳报道 2025 年，国内低空经济虽褪去了去年的"爆发式火热"，却步入了"稳扎稳打" 的有序发展新阶段，越来 越多企业嗅到赛道机遇纷纷入局，市场竞争渐趋激烈的同时，产业技术迭代与商业化落地的步伐也在持 续加快。 近期，2025深圳eVTOL产业发展大会暨低空经济展览会在深圳坪山燕子湖国际会展中心举办，一批多 旋翼eVTOL实机和缩比样机集中亮相，技术路线涵盖多旋翼、复合翼、倾转旋翼等类型。 相比于去年，今年参展商明显更加多元，震东智飞发布吨级重载纵列双桨eVTOL，晔生航空发布了三 款载人机型：云舰 WingShip、云翼 WingWing、云鲲 WingCool。 与其他eVTOL类似，广汽高域的AirCab机身同样采用航空级碳纤维复合材料，但比例更高，占比超过 90%，并且借助了广汽集团的汽车供应链，材料成本降低近30%。 安全是低空经济发展的首要前提，因此多数eVTOL都会设置多重冗余，AirCab也不例外。广汽高域相 关负责人在接受记者采访时介绍，AirCab拥有6个独立电驱，即使2组同时失效，仍能保持平稳飞 行。"小到所有桨叶的保险丝，都做了冗余备份。" 上述负责人表 ...

Core Viewpoint - The low-altitude economy is emerging with various commercial paths and underlying rules, focusing on product development and airworthiness processes for domestic eVTOL manufacturers [1][2][3] Group 1: Industry Overview - The low-altitude economy is gaining traction, with significant developments in eVTOL applications, such as logistics and emergency medical services [2][10] - The eVTOL industry is characterized by a complex regulatory environment, requiring manufacturers to collaborate closely with aviation authorities to establish safety standards [3][16] - The industry is expected to see the first generation of manufacturers complete their research and airworthiness certification by 2025-2026, leading to commercial operations by 2030 [21][22] Group 2: Company Profile - Established in 2020,沃飞长空 is a key player in the low-altitude economy, focusing on the development of manned eVTOLs with a team of nearly 600 [3][4] - The company has chosen a unique technical path with a tilt-rotor design, which poses challenges in meeting safety standards during various flight modes [3][15] -沃飞长空 is actively building its commercial ecosystem through partnerships with various downstream operators and suppliers [4][19] Group 3: Business Strategy - The company prioritizes manned eVTOLs over cargo models, believing that passenger services will yield higher commercial returns [9][13] - Key application scenarios for沃飞长空 include low-altitude tourism, urban transportation, and emergency medical rescue, aiming to enhance user experience and operational efficiency [10][11][12] - The company is leveraging automotive supply chain capabilities to enhance its eVTOL manufacturing processes, ensuring safety and comfort in its products [18][19] Group 4: Challenges and Future Outlook - The eVTOL industry faces significant challenges in airworthiness certification, with safety standards set higher than traditional aircraft [15][16] - The market is expected to stabilize after initial hype, allowing companies to focus on core aspects like safety and certification [21] - Future competition will hinge on technological capabilities, innovation, and the ability to secure funding and talent in a resource-constrained environment [23][24]

Core Insights - The 2025 International Low Altitude Economy Expo highlighted the challenges and opportunities in the eVTOL industry, particularly for companies like EHang, which has achieved significant milestones but faces operational and regulatory hurdles [2][3][4] - Chinese eVTOL companies have secured substantial overseas orders, including a record $1.75 billion deal with Volant Aerospace and a $1 billion order from a UAE company, indicating strong market interest [2] - The industry is transitioning from merely manufacturing aircraft to addressing systemic challenges related to sustainable, compliant, and profitable operations, including route planning and regulatory coordination [2][4] Company Insights - EHang has obtained the world's first eVTOL model type certificate (TC), production certificate (PC), and airworthiness certificate (AC), establishing its leading position in the industry [3][4] - Despite holding these certifications, EHang's operational capabilities are currently limited to specific routes, such as scenic flights within designated areas, rather than urban air mobility [3][4] - The lengthy certification process restricts technological advancements, as any changes to core components require additional approvals, impacting the company's ability to innovate [4] Industry Challenges - The eVTOL industry faces significant entry barriers due to stringent airworthiness standards and high R&D costs, which dictate the future viability of companies based on their initial technology and business model choices [5] - The shortage of qualified personnel for airworthiness certification is a critical constraint, with only about 400 certifying personnel available for over 700 drone manufacturers in China [8][9] - The lack of established standards for eVTOLs complicates the certification process, requiring tailored agreements between regulators and companies [9] Regulatory Environment - Airspace management remains a complex issue, particularly in densely populated areas like Shanghai, where existing airspace is heavily regulated and requires careful planning for low-altitude operations [10][11] - The legal framework governing low-altitude economics is still developing, leading to fragmented regulations across different regions, which can hinder operational efficiency [11][12] Future Directions - The focus of the low-altitude economy is shifting from aircraft manufacturing to building a comprehensive industry ecosystem, emphasizing the importance of legal and financial frameworks [12][15] - Companies are exploring various business models, with a trend towards starting with cargo operations before moving to passenger services, as seen with Meituan's successful drone delivery operations [13][14] - The establishment of a robust supply chain and core component ecosystem is essential for the long-term sustainability of the eVTOL industry [15]