Core Insights - The report identifies eVTOL (electric vertical takeoff and landing aircraft) as the core track of China's "low-altitude economy," predicting a 30% compound annual growth rate (CAGR) for the global urban air mobility market over the next five years [1][6] - China has transformed from a "follower" to a rule-maker in this sector, with 60% of the 17,500 global eVTOL orders by 2025 expected to come from Chinese customers [1][6] Certification Process - The certification process for eVTOLs in China is significantly faster than in Europe and the U.S., with the Civil Aviation Administration of China (CAAC) reducing the timeline to 3-4 years compared to 6-7 years in the West [2][39] - EHang's EH216-S received the world's first manned eVTOL type certificate in just three years, while AutoFlight's cargo model achieved certification in 18 months [2][39] Battery Technology - eVTOLs require higher battery performance than electric vehicles, with energy density requirements of at least 250 Wh/kg [3][39] - Chinese manufacturers like CATL and BYD have produced batteries with energy densities of 280-320 Wh/kg, significantly reducing the operational costs of eVTOLs to $0.5-$1 per seat per kilometer, which is one-fifth of helicopter costs [3][39] Market Potential - By 2030, China's low-altitude economy is projected to reach a market size of 2 trillion RMB, tripling from 2023, with a CAGR of 25% [4][29] - The report estimates that the total addressable market (TAM) for eVTOLs, including sales, operational services, infrastructure, and battery replacement, could reach $110 billion [4][29] Investment Opportunities - The report suggests investing in battery leader CATL, likening it to "the TSMC of the eVTOL era," with a projected tenfold demand growth over the next decade [5][12] - Other notable companies include EHang, Volant, Aerofugia, and TCab, which are expected to benefit from the upcoming policy and order fulfillment waves [5][12] Infrastructure Development - Shenzhen plans to build over 1,200 takeoff and landing points and 1,000 low-altitude commercial routes by 2026, marking a significant leap in infrastructure development [8][51] - The Chinese government has made substantial progress in regulatory frameworks to support the low-altitude economy, including the establishment of a dedicated department for low-altitude economic development [47][51]

Core Insights - The company "Zero Gravity Aircraft" has raised 300 million in funding and is focused on developing electric vertical takeoff and landing (eVTOL) aircraft, aiming to revolutionize urban transportation in the future [1][2]. Company Overview - Founded in 2021 and headquartered in Hefei, Zero Gravity Aircraft has completed seven rounds of financing, reaching an "A+++" round [1]. - The founder, Li Yiheng, has a background in aviation design and has been involved in aircraft certification projects since his university days [3]. Industry Context - The eVTOL market is still in its early stages, with only 60 aircraft sold and 1,000 orders in intention as of early 2025, indicating a nascent demand verification phase [6][7]. - The industry has seen significant developments since 2015, particularly after breakthroughs in lithium battery technology and the introduction of low-altitude airspace policies in China [7][8]. Market Potential - The cost of operating Zero Gravity's aircraft is significantly lower than traditional fuel-powered aircraft, with operational costs around 120 per hour compared to 650 for traditional small aircraft [5]. - The global pilot training market is projected to grow from 8.5 billion in 2023 to 20.8 billion by 2033, with eVTOLs being a potential solution for pilot training needs [8]. Challenges - The eVTOL industry faces several challenges, including lengthy certification processes, inadequate infrastructure, and high operational costs [9][10]. - Current eVTOL technology has limitations, such as low battery energy density and high noise levels, which hinder user adoption [10]. Future Outlook - The industry is expected to see technological advancements in battery density, noise reduction, and autonomous flight capabilities, which will create new market opportunities [13][14]. - By 2027-2028, eVTOL services are anticipated to be operational in major cities, with projections for significant market penetration by 2040 [15][16].