Core Insights - The low-altitude economy is gaining momentum, with government support and capital influx driving its development, but underlying risks and challenges remain [1][2][4][13] - The recent bankruptcy of Volocopter, a prominent eVTOL company, serves as a warning for the domestic low-altitude industry, highlighting potential pitfalls despite the current hype [3][4] Government and Policy Support - The low-altitude economy was included in the government work report last year, leading to the establishment of low-altitude companies by local state-owned enterprises [1] - As of November 2024, 45 cities in China have initiated low-altitude economic policy planning, with 744 certified general aviation companies and approximately 18,000 operational enterprises [4] Market Dynamics and Investment - The low-altitude economy is projected to reach a market size of 2 trillion yuan by 2030 and 3.5 trillion yuan by 2035, according to the Civil Aviation Administration of China [4] - Significant capital investment is flowing into the sector, creating numerous unicorn companies, but some enterprises rely heavily on concept hype rather than mature technology [4][8] Technological Challenges - eVTOLs face limitations due to low battery energy density, with most prototypes achieving only 200-250 Wh/kg, restricting flight range and payload capacity [5][6] - The production of high-efficiency motors for eVTOLs is costly and complex, leading to delays in delivery and increased costs [6] Infrastructure and Regulatory Issues - China's low-altitude airspace management system is still underdeveloped, lacking unified standards and clear flight rules, which complicates the approval process for eVTOL operations [6][7] - The number of general aviation airports in China is insufficient, with fewer than 300, which limits the operational capacity for low-altitude aircraft [6][7] Application Scenarios - The low-altitude economy encompasses various applications, including logistics, agriculture, and emergency rescue, with significant growth potential in these areas [8][11] - The commercial drone industry is expected to reach a market value of $30 billion by 2024, with a compound annual growth rate of 10.6% from 2025 to 2030 [8] Future Outlook - The low-altitude economy has the potential for substantial growth, particularly in tourism and emergency services, but requires significant infrastructure investment and regulatory improvements [12][13] - The integration of advanced technologies like Beidou and 5G for air traffic management is crucial for the safe operation of eVTOLs and other low-altitude vehicles [13]

Group 1 - CITIC Group is a large comprehensive enterprise group founded in 1979, headquartered in Beijing, and is one of the first multinational enterprises established after China's reform and opening up [1] - The group operates under a unique "finance + industry" dual-drive model, covering sectors such as finance, resource energy, high-end manufacturing, and engineering contracting [1] - CITIC Group has a significant presence in both domestic and international markets, consistently ranking in the Fortune Global 500 [1] Group 2 - CITIC Bank, established in 1987, is one of the earliest emerging commercial banks in China, providing a wide range of financial services [3] - CITIC Securities, founded in 1995, is the largest securities company in China, leading in investment banking market share for five consecutive years [5] - CITIC Special Steel, established in 1993, is a global leader in special steel manufacturing, with products used in high-end applications [7] Group 3 - CITIC Heavy Industries, founded in 2008, specializes in heavy machinery manufacturing and has a global presence in 68 countries [10][11] - CITIC Offshore Helicopter, established in 1999, is the largest general aviation operator in China, focusing on offshore oil and emergency rescue services [13] - CITIC Guoan Information Industry, founded in 1997, holds a significant position in the integrated information services sector [15] Group 4 - CITIC Metal, established in 1988, is a leading trader of metal and mineral products, with a focus on iron ore and non-ferrous metals [17] - CITIC Publishing Group, founded in 1993, is a leading publishing group in China, focusing on book publishing and digital reading [18] - CITIC Resources Holdings, established in 1997, engages in the exploration and trading of natural resources [20] Group 5 - CITIC International Financial Holdings serves as the main asset integration platform for CITIC Group, covering various sectors including finance and manufacturing [22] - CITIC International Telecommunications is one of the largest international telecommunications hubs in the Asia-Pacific region [24] - CITIC Financial Asset Management, restructured in 2023, focuses on managing non-performing assets and financial services [26] Group 6 - CITIC Group's listed companies benefit from a "strategic control + market-oriented operation" model, enjoying resource synergy while maintaining competitiveness in niche markets [26] - Many of the group's listed companies are currently undervalued compared to their industry positions, presenting potential investment opportunities [26] - The ongoing national policy for state-owned enterprise value reassessment and the effective layout of emerging industries may lead to structural opportunities for CITIC Group companies [26]

近日，四川省低空经济产业链协同发展暨产品发布会在成都举行，活动现场，发布了四川省《支持低空 经济发展的若干政策措施》，介绍了四川省低空运行管理试点有关情况，洪雅瓦屋山滑翔伞飞行营地成 功入选首批11个低空飞行试点，迎来低空经济发展新机遇。 据了解，瓦屋山滑翔伞飞行营地位于雅女湖畔，依托瓦屋桌山与雅女湖的独特优势，在湖面建起一个 2000多平方米的降落平台，游客可在专业教练一对一带领下在湖面上以滑翔伞为主用牵引机进行牵引升 空，起飞到一定高度后脱离牵引装置，最终降落在湖面平台。 "以高空视角俯瞰湖泊与原始森林，感受10分钟左右云端翱翔的震撼，适合7至65岁人群体验飞行。"瓦 屋山投资有限公司副总经理卓佳介绍，目前，营地正在抓紧建设中，预计今年7月进入预飞行阶段。 2025年，眉山市委定位洪雅为低空经济引领区，支持洪雅县积极开辟发展新领域新赛道，培育发展低空 经济等未来产业。 今年1月，洪雅开通眉山市首条无人机快递进村航线，余坪镇至黄里村的配送时间从20分钟至半小时缩 短至7分钟，效率提升超180%。 3月，第三届川渝滑翔伞定点联赛（四川站）暨第八届四川省滑翔伞锦标赛在我县开幕。作为川渝地区 最具影响力的低空运动 ...

能飞航空副总经理秦艺雯 广东省作为经济大省和科技强省，具备发展通航及无人机行业的得天独厚的条件。通过加强各方的协同 合作，充分发挥各自的优势，能够有效推动行业的高质量发展，为低空经济的繁荣注入强大动力。 凝聚共识 高效规划发展蓝图 5月13日上午，广东省通用航空协会、广东省无人机行业协会理事会在广州黄埔低空经济产业创新中心 成功举办。能飞航空作为广东省无人机行业协会理事单位受邀出席此次会议，聚焦于多个关键议题展开 深入探讨，旨在推动广东省通航及无人机行业的稳健前行与长远发展。 深入探讨 聚焦关键议题 会议进入深入讨论环节，与会代表们聚焦于技术创新、产业协同、生态构建等关键方向，展开了热烈而 富有成效的交流。能飞航空副总经理秦艺雯在会议讨论中表示，"希望未来能结合通用航空原有基础设 施和市场资源与无人机行业进行产业联动，争取为低空经济做出更大贡献。" 在全体参会理事单位的深度参与和共同努力下，此次理事会高效凝聚行业共识、系统规划发展蓝图，不 仅形成多项务实工作举措，更以高站位部署为广东省通航及无人机行业的高质量发展筑牢根基、注入动 能，为行业迈向规范化、规模化新征程奠定坚实基础。 在低空经济蓬勃发展的浪潮中，专 ...

Core Viewpoint - The launch of a low-altitude economy helicopter experience event in Xining aims to enhance the development of the low-altitude economy and provide citizens with a new perspective of the city [1][2] Group 1: Event Overview - The event, themed "New Perspectives in Low Altitude, Wings to the Future," includes static helicopter displays, functional explanations, and short flight experiences [1] - The event is organized by the Xining Chengxi District People's Government in collaboration with several companies, including Qinghai Jiale Aviation Co., Ltd. and SPD Bank Xining Branch [1] Group 2: Economic Implications - The low-altitude economy is described as a "light cavalry" for industrial development, capable of empowering various sectors such as cultural tourism, emergency rescue, and logistics [2] - The event represents a significant step in the Chengxi District's strategy to develop the low-altitude economy, with plans to enhance support through improved business environments and talent cultivation [2]

21世纪经济报道记者孙燕上海报道 5月以来，两家eVTOL厂商相继宣布了适航认证进展。 5月9日，小鹏汇天宣布"陆地航母"飞行体(代号：X3-F)生产许可证(PC)申请于当日获得民用航空中南地区管理局受理。5月15日，牧羽天航空宣布， AT1300"飞行重卡"型号合格证(TC)申请已于4月30日获得民用航空华东地区管理局受理。 | 公司 | 型号 | 类型 | TC受理时间 | TC取证时间 | PC受理 | | --- | --- | --- | --- | --- | --- | | 亿航智能 | EH216-S | 载人 | 2020年12月 | 2023年10月 | | | 峰飞航空 | V2000CG | 载物 | 2022年9月 | 2024年3月 | | | | V2000EM | 载人 | 2024年4月 | | | | 沃飞长空 | AE200 | 载人 | 2022年11月 | | | | 沃兰特 | VE25-100 | 载人 | 2023年9月 | | | | 时的科技 | E20 | 载人 | 2023年10月 | | | | 御风未来 | M1-B | 载物 | 2024年1月 | ...

在赵敏看来，与低空经济庞大的市场规模相比，低空经济发展还面临三重困境。一是技术困境，航空级 电池能量密度不足，主流eVTOL飞行器载重普遍低于500公斤，续航时长1小时内；二是场景割裂，全 国仅0.1%的A级旅游景区布局低空观光，其他通航、农林、应急、物流和各行业应用场景几近空白；三 是商业闭环难题，太多团队困在"航空级技术"和"飞行器参数"的执念里，前期研发费用难以为继之外， 很多头部企业单机年运维成本近百万，营收却不足30万元。 "与其等待技术完美，不如先让产业转起来。"赵敏介绍，蜜蜂低空在低空中选择的第一个垂直场景是文 旅，在重庆巫溪红池坝、内蒙野狼谷等景区，使用北京航空航天大学固定翼有人机，该机型有低固投、 轻基建、易转场等特点。依托这种高频刚需+灵活调度的组合拳，蜜蜂低空测试期即实现新景区上线周 期从行业平均45天压缩至72小时、单机日执飞架次达60余次，超行业均值3倍、季度单机营收破百万的 好成绩，其产品上线一季度便率先验证了低空经济里的产业+场景的"最小可行性闭环"。 "我们不是造飞行器的人，而是让飞行器被需要和被使用的人。"赵敏表示，通过连接真实场景与上游供 应链，将每一个垂直场景中的每次飞行 ...

5月16日，A股三大指数涨跌不一。国证通用航空产业指数走势震荡，截至发稿涨0.72%。成分股中，利 君股份涨停，国睿科技、联创光电、应流股份、珠海冠宇、中海达、航天电子等股涨幅居前。 相关产品中，跟踪国证通用航空产业指数的通用航空ETF基金（159230）正在发行中。根据公司公告， 通用航空ETF基金（159230）于5月7日至5月16日进行发售。该ETF即将于今日结束募集。 消息面上，据央广网，2025年5月10日，中国低空经济产业发展联盟（以下简称"联盟"）在三亚正式成 立。这一联盟的成立，标志着我国低空经济产业迈入以产业协同、场景创新为核心驱动力的高质量发展 新阶段。该联盟致力于为全球低空经济发展贡献"中国智慧"与"海南方案"。联盟宣布将以海南为创新试 验田，重点推动无人机物流、城市空中交通（UAM）、低空文旅等场景落地，并展示电力巡检无人 机、医疗急救运输机等前沿应用。中国低空经济产业发展联盟创始发起人、联席理事长焦涌表示，未来 三年，联盟将联动低空经济领域上下游企业，计划推动100个标志性场景落地，孵化50家独角兽企业， 并助力海南低空经济规模突破千亿。联盟成立后，将通过产业协同、场景创新与国际合作 ...

Core Viewpoint - Beichuan Qiang Autonomous County prioritizes ecological preservation as a foundation for development, striving for a harmonious balance between economic growth and environmental protection [1] Group 1: Ecological Protection Efforts - Beichuan has established a comprehensive ecological governance system involving government, enterprises, and society, promoting green and low-carbon development [2] - The county has invested a total of 367 million yuan in ecological protection over the past three years, emphasizing the consensus that development must not come at the expense of the environment [2] - Strict measures are in place for air pollution control, with 136 monitoring points under continuous surveillance and the implementation of a river and lake chief system for rural wastewater management [2] Group 2: Technological and Systematic Governance - The county is transitioning from traditional to scientific regulation, utilizing drones and portable detection devices to enhance monitoring efficiency [3] - A digital platform has been established for air pollution source management, enabling precise monitoring and control of pollution sources [3] - Collaborative efforts with neighboring regions have been initiated to implement a joint pollution control system for major river basins [3] Group 3: Green Economic Development - Beichuan is committed to ecological protection while promoting economic growth, with 976.52 square kilometers designated as ecological protection red lines, covering 31.66% of the county's total area [5] - The county is investing nearly 1 billion yuan in national reserve forest projects, maintaining over 4 million acres of forest land and achieving an annual carbon sequestration of over 1.5 million tons [5] - The development of high-quality agriculture and tourism is being emphasized, with significant income generated from eco-friendly products and tourism activities [5]

商务领域则深度绑定西北能源、矿业企业需求，通过定制化包机服务帮助企业节省超50%的时间成本。目前，公司运营机队规模达15架，涵盖空客H135 直升机等主流机型，并通过飞机租赁与托管模式降低客户运营门槛。 行业资质与资源整合能力构成岩特航空的核心壁垒。公司持有CCAR-91部等7项民航运营资质，已获批23条低空航线，覆盖西北地区80%以上的4A级景 区。通过与200余家高端酒店、30个景区及头部婚庆机构建立战略合作，公司可实现48小时内输出定制化服务方案。安全运营方面，其引入的欧洲航空安 全标准体系已累计保障超5000小时安全飞行，至今保持零事故记录。 据公司披露，本轮资金将优先投入技术升级领域，开发智能调度系统以优化航线动态管理，目标将飞机利用率从行业平均水平的60%提升至75%；同时计 划在新疆、内蒙古等低空旅游热点区域增设运营中心，将成熟的西北模式向全国10个地区复制。 此外，公司正与多地政府合作建设"低空经济示范区"，整合飞行营地、航空科普等衍生业态，打造立体化服务生态。 在业务布局方面，岩特航空以高端消费场景为切入点，已形成独特的市场竞争力。其低空文旅产品覆盖秦岭、黄河壶口瀑布等标志性景观航线，提供直 ...