深圳：到2026年底，建成低空起降点1200个以上，开通载人、载货飞行等各类低空商业航线1000条以上 金十数据7月31日讯，深圳市发改委制定深圳市低空基础设施高质量建设方案（2024—2026年），其中 提到，到2026年底，建成低空起降点1200个以上，开通载人、载货飞行等各类低空商业航线1000条以 上，直升机、eVTOL起降设施1公里半径覆盖建成区面积比例突破50%，"2小时同城、4小时跨城"低空 快送服务覆盖人口占全市人口比例超过70%，三甲医院、血液中心（血站）覆盖率超过50%，城市治理 起降场3公里半径范围内实现全市公园、河道、水库、岸线等巡检全覆盖，载人飞行、物流运输、低空 观光、航空运动、飞行培训、电力巡线、港口巡检、航拍测绘、农林植保等领域实现商业化应用。 ...

（原标题：政策东风激活万亿蓝海赛道，场外投资工具来了！） 近期首届国际低空经济博览会重磅开幕。全球近300家行业头部企业齐聚上海，19件全球首发产品、25 件全国首发产品集中亮相。开展首日，来自上海的沃兰特航空与泰国泛太平洋公司签署了500架eVTOL 采购协议，这笔高达17.5亿美元的订单创下了迄今为止中国高等级客运eVTOL获得的最大单笔国际订单 记录。 在政策、技术与市场的三重共振下，通用航空作为低空经济的核心主体，有望加速从概念走向现实，而 光大保德信基金将于8月4日——8月15日发行的光大国证通用航空指数基金（A类：024788 C类： 024789），有望成为投资者场外布局这一领域的高效投资工具。 地方政府的响应也十分积极、迅速。据不完全统计，全国已有超过25个省市将低空经济相关内容写入政 府工作报告，设立了超过24支低空经济产业基金，合肥、杭州等六大城市有望率先开展eVTOL试点， 推动低空基建等相关配套设施体系化落地。 政策暖风吹拂下，市场规模增长曲线陡峭。根据工信部赛迪研究院等数据，截至2023年末，中国低空经 济规模达5059.5亿元，伴随着低空飞行活动增加和基础设施投资见效，未来几年行业 ...

Group 1 - The first International Low Altitude Economy Expo recently opened in Shanghai, featuring nearly 300 leading companies and showcasing 19 global and 25 national product launches [1] - A significant procurement agreement was signed between Volant Aviation and Thailand's Pan Pacific Company for 500 eVTOL aircraft, amounting to $1.75 billion, marking the largest international order for high-grade passenger eVTOLs in China to date [1] - The general aviation sector is expected to accelerate from concept to reality, supported by policy, technology, and market dynamics, with the upcoming Guangda National Index General Aviation Fund anticipated to be an effective investment tool for investors [1] Group 2 - The low altitude economy has been included in government work reports for two consecutive years, with a clear roadmap established by the Ministry of Industry and Information Technology to achieve a trillion-level market by 2030 [2] - Over 25 provinces and cities have incorporated low altitude economy initiatives into their government reports, with more than 24 low altitude economy industry funds established [2] - The low altitude economy in China reached 505.95 billion yuan by the end of 2023, with projections to exceed one trillion yuan by 2026 and 3.5 trillion yuan by 2035 [2] Group 3 - The development trajectory of the general aviation industry is highly similar to that of the new energy vehicle industry a decade ago, with both being included in the strategic emerging industries category [4] - eVTOL technology shares about 70% of its core components with new energy vehicle technology, indicating a strong technological overlap [4] Group 4 - The National General Aviation Industry Index has shown an average increase of 560.96% since its inception, highlighting the high growth potential of the sector [5][7] - The index consists of 50 securities related to materials, infrastructure, aircraft manufacturing, and operational services within the general aviation industry [5] Group 5 - The top ten constituents of the National General Aviation Index are predominantly large companies with high technological barriers, indicating strong growth potential [7] - The index's constituents have an aggregate weight of 52.87% in low altitude economy-related enterprises, closely tied to this technological wave [9] Group 6 - The low altitude economy is transitioning from conceptual exploration to large-scale application, with various industries benefiting from its implementation [10] - By 2027, urban low altitude logistics is expected to operate on a large scale, with "air taxis" potentially becoming a new commuting option by 2030 [10] - The use of drones in agriculture has significantly increased efficiency, allowing for extensive monitoring and application of agricultural practices [10] Group 7 - The integration of general aviation into transportation logistics, major engineering, and public services is expected to release substantial economic value and social benefits [11] - The Guangda National Index General Aviation Fund aims to help investors capitalize on the investment opportunities arising from the development of the low altitude economy [11]

近期 首届国际低空经济博览会重磅开幕 。 全球近300家行业头部企业齐聚上海，19件全球首发产 品、25件全国首发产品集中亮相 。开展首日， 来自上海的沃兰特航空与泰国泛太平洋公司签署了 500 架 eVTOL采购协议，这笔高达17.5亿美元的订单创下了迄今为止 中国高等级客运eVTOL获得 的最大单笔国际订单记录。 在政策、技术与市场的三重共振下，通用航空作为低空经济的核心主体，有望加速从概念走向现实， 而光大保德信基金 将于8月4日——8月15日发行的光大国证通用航空指数基金（A类：024788 C 类：024789），有望成为投资者场外布局这一领域的高效投资工具。 政策东风：国家战略加持的万亿蓝海 当顶层设计与地方实践形成合力，产业发展的"加速键"被按下。 从2024年起，低空经济已连续两年 被写入政府工作报告； 2024年3月，工信部等四部门联合发布的《通用航空装备创新应用实施方案 （2024-2030年）》从国家层面明确目标，到2030年推动低空经济形成万亿级市场规模，这份纲领 性文件为产业发展绘制了清晰的路线图。 地方政府的响应也十分积极、迅速。据不完全统计，全国已有超过25个省市将低空经济相关内 ...

Core Insights - The successful test flight of the eVTOL (electric Vertical Take-Off and Landing) aircraft in Shenyang marks a significant step towards commercializing low-altitude tourism in China [2][4] - The aircraft, capable of carrying two passengers, weighs only 1.6 tons and operates with a noise level of approximately 70 decibels during takeoff, making it suitable for urban environments [4] - The Chinese low-altitude economy is rapidly developing, with the Civil Aviation Administration of China issuing the first operational certificates for manned unmanned aerial vehicles earlier this year, indicating the start of a new era in this sector [4] Industry Developments - The low-altitude tourism market is expected to gradually open up, with a timeline of one to two years for full implementation, contingent on safety and operational pilot results [4] - Current popular projects in Wuxi, such as "drone + VR" and "drone + wedding photography," highlight the growing interest and potential for low-altitude experiences [4] - The scenic beauty of Shenyang is anticipated to attract significant interest in low-altitude cultural tourism, further driving industry growth [4]

Group 1 - The Low Altitude Fusion Development Innovation Laboratory aims to create an industry-leading platform that integrates industry research, resource connection, information dissemination, learning exchange, and achievement transformation to support the high-quality development of the low-altitude economy [1] - The laboratory focuses on key technology innovation, low-altitude equipment development, infrastructure construction, application scenario promotion, policy regulation improvement, and economic growth empowerment, establishing a development system from basic theory to technology innovation and practical application [1] - The members of the laboratory recognize inland waterways as a crucial support for future low-altitude industry development, with a focus on deep collaboration between low-altitude and inland strategies [1] Group 2 - The Beijing Yanqing District is actively laying out the low-altitude industry, aiming to create a demonstration zone for unmanned aerial vehicles, focusing on niche positioning and avoiding homogeneous competition [2] - The "Low Altitude Industry Torch Innovation Park" will serve as the core for scientific research transformation, promoting the landing of low-altitude technology achievements and forming a complete ecosystem from research and development to manufacturing and application [2] - The Yanqing plan aims to provide a model for national low-altitude economic development by exploring new mechanisms for integrating low-altitude technology with the medical field [2] Group 3 - Suggestions for the laboratory's construction include expanding member units to include universities and key aviation enterprises, enhancing industry chain collaboration, and establishing a talent matching system to create a virtuous cycle of talent cultivation, technology transformation, and industry upgrading [3] - Companies like Huaneng Investment Management are willing to integrate resources and promote breakthroughs in low-altitude technology under the laboratory's guidance [3] - The establishment of a dual-list system for low-altitude airways and landing points is proposed to facilitate the rapid replication of technology and application scenarios [3] Group 4 - The event was co-hosted by the Xinhua News Agency and the Ministry of Industry and Information Technology, with representatives from various regions and organizations actively contributing ideas for low-altitude industry development [4] - Future work plans for the laboratory include organizing competitions, salons, industry research reports, and park construction [4]

Core Viewpoint - The low-altitude economy is transitioning from a "conceptual heat" to "industrial reality," becoming a new driving force for economic growth. Understanding the "multi-subject, multi-level, multi-dimensional" core relationships will be key to the high-quality development of the low-altitude economy [1]. Group 1: Regional Coordination - Clarifying the "inter-regional" collaborative relationship is essential due to the current fragmentation in low-altitude management. A comprehensive legal and regulatory framework is needed, including a three-tier system: national, regional, and local levels. The national level should focus on top-level design, suggesting the introduction of an "Airspace Management Law" and supporting regulations to unify airspace classification standards, operational rules, and safety requirements [1]. - At the regional level, collaborative demonstration zones should be established to promote the integration of airspace designation, approval processes, and regulatory standards. The local level should implement a "provincial coordination + city node" model, where provinces set detailed rules and cities handle specific services and execution [2]. Group 2: Systematic Operation - A "systematic" operational relationship must be constructed to address the strict airspace control and high R&D costs that have historically limited general aviation to "point-like" development. Low-altitude aircraft, such as drones and eVTOLs, are key to creating new business models like urban commuting and instant logistics [2]. - A multi-level collaborative system should be established, including a transportation network with a "trunk-branch-terminal" structure. The trunk level would involve general aviation aircraft for cross-regional transport, the branch level would utilize medium and large drones for regional logistics, and the terminal level would employ small drones for precise delivery [2]. Group 3: Air-Ground Interaction - The interaction between low-altitude flight and ground environments is crucial. A "three-dimensional dynamic system" for air-ground integration should be developed, incorporating centimeter-level three-dimensional geographic information and real-time data collection from IoT devices to address complex environmental perception needs [2]. - Low-altitude traffic should be included in comprehensive multi-dimensional transportation planning, integrating low-altitude flight paths and landing facilities, and activating existing transportation hubs and rooftop spaces to create a development pattern where "ground supports low-altitude, and low-altitude reciprocates to ground" [2].

从2020年开始，低空经济不断出现在公众视野，其涵盖通用航空、无人机等领域，产业链条长、涉及行 业多，是推动经济高质量发展的新增长引擎。同时低空经济是新质生产力的重要组成部分，具有广泛的 应用性、产业的融合性和市场的融通性等特性，发展低空经济有助于构筑我国的现代化产业体系、提升 国家竞争力。当前国家已出台政策措施，推动低空经济发展，也是国内企业探索低空经济的良好契机。 2021年国家有关部门印发《国家综合立体交通网规划纲要》，低空经济概念首次被写入国家规划；2023 年12月中央经济工作会议将低空经济列入战略性新兴产业范畴；2024年全国两会首次将低空经济写入 《政府工作报告》，其战略重要性不言而喻。在政策支持下，低空产业力量集聚、科技力量不断提升， 低空经济发展路线成为当下的重要课题，本文结合当前低空经济的发展趋势与现实问题，系统阐释支持 低空经济高质量发展的理论依据与业务实践应用。 当前我国低空经济发展概况 在国家顶层规划的引导下，各地政府紧锣密鼓地布局低空产业。2023年10月，国家出台《绿色航空制造 业发展纲要（2023-2035年）》，鼓励珠三角、长三角、环渤海、成渝等优势地区设立"低空经济示范 区 ...

Investment Rating - The industry rating is "Outperform the Market" indicating that the overall return of the industry is expected to exceed the market benchmark index by more than 5% in the next 6 months [58]. Core Insights - The low-altitude economy is gradually accumulating "quantitative changes" and is anticipated to wait for a "qualitative change" as the industry progresses and market performance improves [4][31]. - The recent International Low-altitude Economic Expo showcased significant support from both policy and industry, with 201 low-altitude aircraft displayed, including 155 drones and 500 eVTOL orders, reflecting strong market interest and potential growth [4][31]. - The report emphasizes the importance of low-altitude safety and the landing of cargo scenarios for drones, suggesting that if relevant policies are implemented, drones could transition from a supporting role in logistics to a leading market position [5][32]. Summary by Sections Market Review - The Wind Low-altitude Economic Index increased by 1.70% during the week of July 21-25, outperforming the Shanghai Composite Index, which fell by 2.76% [2][15]. - Key stocks that performed well include Jindun Co. (+16.98%), Wolong Electric Drive (+12.66%), and Huayi Technology (+11.71%), while stocks like Guanglian Aviation (-13.18%) and Changyuan Donggu (-5.07%) saw declines [3][17]. Industry Dynamics - The report highlights the establishment of a leadership group by the Civil Aviation Administration of China for general aviation and low-altitude economy, indicating a focus on practical measures such as airspace planning and low-altitude flight management [4][32]. - Recent policy developments include the implementation of the "2025 Small Drone (Revised) Order" and the "2025 Safety Emergency Equipment Industry Classification Guidance Directory," which aim to promote the development of the low-altitude economy [39][41]. Investment Strategy - The report suggests focusing on drone manufacturers such as Zongheng Co. and Green Energy Huichong, as well as leading companies in various segments like Wan Feng Aowei (complete machines) and Deep City Transportation (planning and design) [9][34]. - New directions for investment include low-altitude safety and inspection sectors, with recommended companies like Xinjingang and Guorui Technology [9][35].

Group 1 - The 2025 International Low Altitude Economy Expo opened in Shanghai, showcasing Geely Group's WoFei ChangKong with its AE200 production model and intelligent cabin [2] - The "Intelligent Cabin" is a new design developed in collaboration with Fuwei Group, focusing on safety and enhancing flight experience through various technologies [2] - WoFei ChangKong has completed all tilt-rotor transition flight tests and is in the final preparation stage for manned flight tests, with certification expected in 2026 [2] Group 2 - The eVTOL industry will share 80% of the supply chain with the new energy vehicle sector, while 20% of critical technologies will adhere to aviation standards [3] - Collaboration requires elevating the automotive supply chain to aviation certification standards, necessitating extensive compliance verification tests [3]