Core Insights - The article highlights the rapid growth and opportunities in the drone power system sector, particularly focusing on the company Haoying Technology, which is preparing for an IPO to raise 1.96 billion yuan [3][4]. Company Overview - Haoying Technology, founded in 2005, has evolved from a model car power system provider to a key supplier of drone power systems, with products distributed in over 120 countries. The company aims for a revenue of 738 million yuan and a net profit of 152 million yuan in 2024, with drone power systems accounting for over 50% of its revenue [3][12]. - The founder, Zhang Jie, identified a gap in the market for domestic high-end brushless power systems, leading to the establishment of Haoying Technology [9][10]. Market Opportunities - **Scene Demand Explosion**: There is a significant increase in demand for high-capacity and long-endurance power systems in logistics, emergency response, and power inspection sectors, with a projected annual growth rate exceeding 45% over the next three years [5][15]. - **Core Technology Breakthrough**: The integration of AI with adaptive power systems is a key direction, potentially enhancing endurance by 20%-30% and reducing failure risks. The current technology conversion rate is below 30%, indicating substantial room for growth [6][15]. - **Policy Benefits**: The gradual relaxation of airspace regulations and simplified flight approvals are expected to boost the adoption of drones, thereby increasing the demand for power systems [7][15]. - **Market Structure Opportunities**: The global drone power market is still fragmented, with Haoying's market share at only 4.12% in 2024. Companies with comprehensive self-research capabilities and stable supply chains are positioned to capture more market share [8][14]. Industry Growth - The global civil drone market is projected to grow from 30.9 billion yuan in 2019 to 110.8 billion yuan in 2024, with a compound annual growth rate (CAGR) of 24.14%. The industry-level drone segment is expected to grow even faster at a CAGR of 33.33% [13]. - The drone power system market in China is anticipated to expand from 4.3 billion yuan in 2019 to 10.3 billion yuan in 2024, with a CAGR of 19.05% [13]. Competitive Landscape - The drone power system market consists of both integrated manufacturers like DJI and specialized third-party suppliers such as Haoying Technology. The market remains competitive with high entry barriers for new players [14].