Core Insights - The eVTOL industry is witnessing a significant increase in confirmed orders, indicating a shift from mere intentions to actual commitments [1][2] - Major eVTOL companies, including沃飞长空 and 沃兰特航空, have secured substantial orders, reflecting a growing demand for next-generation aerial mobility solutions [3][5] Order Trends - In November 2025 alone, seven eVTOL companies reported new orders, with notable agreements including 370 units from 天翎科 and 95 units from 沃兰特航空, totaling approximately 2.375 billion yuan [3][4] - The majority of these orders are still classified as intent rather than confirmed, highlighting a strategic positioning by buyers to secure future capacity [4] Market Dynamics - The surge in intent orders is driven by a pressing need for buyers to lock in future aerial transport capabilities, as evidenced by the saturation of current aircraft manufacturers like Airbus and Boeing [4] - The transition from prototype to commercial product for eVTOLs hinges on obtaining the Type Certificate (TC), which is essential for legal production and sales [4][6] Confirmed Orders - Confirmed orders have started to emerge, with沃兰特航空 and 峰飞航空 reporting significant agreements, including 300 confirmed orders out of 2000 total commercial orders [5][7] - 亿航智能 has begun deliveries, having shipped 121 units in the first three quarters of the year, indicating progress in the eVTOL market [7]

Core Insights - The eVTOL industry is witnessing a significant increase in confirmed orders, indicating a shift from mere intentions to actual commitments [1][2] - The surge in orders reflects a strategic positioning by buyers to secure future aerial mobility capabilities amid a competitive landscape [4][5] Group 1: Order Trends - In November 2025, multiple eVTOL companies, including沃飞长空 and 零重力飞机, signed procurement agreements, with notable orders such as 50 units from 华龙航空 [1][3] - A total of 370 eVTOL units were ordered during the 8th China International Import Expo, with significant contributions from various companies [3] - The total order value for eVTOLs in November reached approximately 23.75 billion yuan, with multiple companies securing substantial agreements [3] Group 2: Transition from Intentions to Confirmations - The majority of current orders are still intentions rather than confirmed orders, highlighting the urgency of buyers to lock in future capacity [4] - The transition from intention to confirmation is critical, with only a few companies like 亿航智能 and 峰飞航空 having obtained the necessary certifications to proceed with production [4][6] - As of late 2025, the confirmed orders for eVTOLs have reached 300 units for 峰飞航空, with an overall intention-to-confirmation conversion rate of 15% [7] Group 3: Certification and Delivery - The certification process, particularly the Type Certificate (TC), is essential for eVTOLs to move from prototype to commercial product [4][9] - 亿航智能 has begun deliveries, with 121 units delivered in the first three quarters of the year, indicating progress in the operational phase [7] - Special scenarios, such as emergency rescue operations, may allow for preliminary operations under "special flight" conditions, facilitating technology maturation and order conversion [9]