Core Insights - The low-altitude economy has been included in government work reports for two consecutive years, indicating a shift from concept to reality, with numerous competitive market participants entering the field [1] - The Greater Bay Area is positioned to lead the development of the low-altitude economy, driven by both policy and market demand [1] Group 1: Industry Development - As of mid-2025, Shenzhen has gathered over 1,900 enterprises in the low-altitude economy supply chain, with consumer drones accounting for 70% and industrial drones for 50% of the global market [5] - The low-altitude economy is characterized as an "empowerment-type" economic model that can enhance traditional industries such as logistics, medical testing, and urban security [5] Group 2: Regulatory and Infrastructure Initiatives - The Hong Kong government has established four key directions for developing the low-altitude economy, including regulatory sandboxes, improving regulations, researching low-altitude infrastructure, and developing cross-border low-altitude channels [7] - In March, Hong Kong announced the first batch of 38 pilot projects for low-altitude economic regulatory sandboxes, featuring several Shenzhen enterprises [7] - The 2025 Policy Address proposed the creation of a development plan for the low-altitude economy and the introduction of advanced regulatory sandbox pilot projects [7] Group 3: Key Development Factors - Three essential elements for the development of the low-altitude economy were identified: aircraft manufacturing, infrastructure development, and application capture [9] - A solid manufacturing base in the Greater Bay Area serves as the "supply engine" for the low-altitude economy, while infrastructure such as air routes, takeoff and landing points, and communication systems are crucial for sustainable development [9] Group 4: Challenges and Future Outlook - Despite initial growth, the low-altitude economy faces challenges in technology (airspace control, communication, battery life), regulations (safety, noise, privacy standards), and commercialization (exploring diverse demands and sustainable profit models) [11] - The future of the low-altitude economy relies on transitioning from policy-driven support to market-driven growth, with a focus on improving institutional and regulatory frameworks [16] - The Greater Bay Area's comprehensive industrial chain and market scale, along with Hong Kong's professional services, are expected to enhance the prospects of the low-altitude economy [16]