低空年终总结。 作者/于丽丽 报道/投资界PEdaily 回顾2 0 2 5年，低空经济开始进入订单大年。 印象深刻的是2 0 2 5年1 0月，小鹏汇天签订中东地区首批6 0 0台飞行汽车订购协议，创下该领域海外最大批量订购纪录。峰飞航空、时 的科技也官宣签约中东订单。国内订单也来了，沃兰特航空、亿航智能也分别签署来自贵州、北京等地的购机订单。 至于融资方面，一个有趣的现象出现——低空赛道" + "号轮融资越来越多了。 这一年，零重力飞机工业宣布完成A+ + + +轮融资，金额近3亿元。在此之前，沃兰特航空同样完成A+ + + +轮融资。探究背后的原因， 低空初创企业在产品适航取证阶段也许还不具备足够的自我造血能力，" + "号融资维持合适的估值而降低投资人决策门槛，赛道融资 寒意显现。 经 过 融 资 火 热 后 ， 2 0 2 5 年 低 空 产 业 融 资 节 奏 有 所 放 缓 ， 但 亿 元 级 项 目 占 比 提 升 ， " 头 部 效 应 " 正 在 显 现 。 据 投 资 界 不 完 全 统 计 ， 仅 2 0 2 5年1 0月披露的融资事件达2 3起。 彼时，eVTOL独角兽 沃兰特航空 ...

Core Insights - The low-altitude economy sector underperformed the broader market during the period from August 18 to August 31, with the Wind Low Altitude Economy Index rising by 3.12%, lagging behind the Shanghai Composite Index by 1.24 percentage points, the CSI 300 Index by 3.88 percentage points, and the ChiNext Index by 10.92 percentage points [1][2] - The National Development and Reform Commission's recent policy emphasizes the cultivation of new economic drivers, including the low-altitude economy, to foster new consumption scenarios [2] Market Performance - The Wind Low Altitude Economy Index increased by 3.12%, while the National General Aviation Index rose by 6.85%, outperforming the Shanghai Composite Index by 2.49 percentage points but still lagging behind the CSI 300 Index and ChiNext Index [1][2] Policy Developments - The Central Committee of the Communist Party of China and the State Council released guidelines to promote high-quality urban development, highlighting the importance of the low-altitude economy [2] - Various provinces, including Anhui and Guangdong, are implementing measures to support the development of the low-altitude economy, focusing on infrastructure and regulatory frameworks [3] Investment Projects - Hefei has launched a special bond project for low-altitude economic infrastructure with an investment scale of 18.6 billion yuan [3] - EHang has signed an investment cooperation agreement with the Hefei government to establish a headquarters for its VT35 series eVTOL products, with a total investment of approximately 1 billion yuan [3] Orders and Collaborations - Volant Aerospace and Agricultural Bank of China Leasing signed a procurement order for 120 aircraft, totaling 3 billion yuan [4] - FeiHang Technology and QiFei signed a procurement agreement for 45 eVTOL aircraft, marking a significant step in urban logistics [5] Technological Advancements - The GOVY AirJet received a special flight permit, showcasing its compliance and safety for urban operations [5] - The RX1E series electric aircraft has received airworthiness certification, indicating a move towards mass production [5] Financing Activities - Dream Sky Technology completed over 100 million yuan in Pre-A++ and strategic financing rounds to support product certification and team expansion [6] - Alef Aeronautics has begun test operations for its electric flying car, Model A, after receiving special airworthiness certification from the FAA [6] Investment Recommendations - The low-altitude economy is gaining traction with various provinces implementing supportive policies, and leading eVTOL manufacturers are experiencing a surge in orders [7] - Key investment targets include power/energy systems, complete aircraft manufacturers, air traffic management systems, and maintenance operations [7]