新华财经上海12月30日电（记者王鹤）美国交通部近日出台首个《先进空中交通（AAM）国家战略 2026-2036》，并同步发布了配套的综合计划。作为美国布局第三次飞行革命的顶层设计，该战略核心 目标明确，即通过安全整合电动垂直起降（eVTOL）飞机等新型飞行器进入国家空域，统筹协调认 证、运营、基础设施建设与早期部署全链条工作，推动美国企业从飞行测试阶段迈向基础设施建设与体 系化推进的实质发展阶段，巩固并强化美国在下一代航空领域的全球领导地位。 从经济背景来看，美国航空业每年可支撑1.8万亿美元经济活动，贡献近4%的GDP，在此基础上，先进 空中交通被美国明确界定为未来运输、物流配送、应急服务及国防保障的核心组成部分，战略价值凸 显。 美旨在通过AAM国家战略强化下一代航空器的全球领导地位 据介绍，先进空中交通AAM（Advanced Air Mobility），是基于电动垂直起降（eVTOL）等新型航空器 构建的城市空中立体交通网络，概念上等同于中国的低空经济。 美国AAM战略及配套计划包含40项行动建议，聚焦产业竞争力、运营安全与经济实力三大核心维度， 围绕"空域、基础设施、安全、规划与社区参与、劳动力、 ...

Investment Rating - The report suggests a positive outlook for the general aviation market, indicating steady growth in the second half of 2025, with full-year deliveries expected to grow by 5-7% and market scale growth maintaining a rate of 8-10% [12][13]. Core Insights - The general aviation market demonstrated resilience with stable volume and rising value, achieving total deliveries of 1,432 units in the first half of 2025, a year-on-year increase of 4.3%, and a market scale exceeding $1.225 billion, growing by 9.9% year-on-year [7][10]. - The second quarter of 2025 showed significant improvement, with deliveries reaching 800 units, a quarter-on-quarter increase of 26.6%, and a market scale of $721 million, surging 43.1% quarter-on-quarter [7][10]. - The market is evolving towards premium segments, with an increasing average unit value driving market scale expansion [10]. Summary by Sections Aircraft Delivery Trends - The first half of 2025 revealed a divergence in aircraft delivery types, with piston aircraft deliveries reaching 810 units (up 5.1% year-on-year) and turbine aircraft deliveries at 622 units (down 3.3% year-on-year) [8][9]. - In Q2 2025, piston aircraft deliveries were 452 units, showing a strong recovery with a quarter-on-quarter increase of 26.3%, while turbine aircraft deliveries reached 348 units, reflecting a significant quarter-on-quarter growth of 27.0% despite a year-on-year decline [8][9]. Competitive Landscape - The competitive landscape is characterized by a concentration of market share, with Cirrus leading with 350 deliveries (31.0% year-on-year growth) and Textron in second place with 300 deliveries (19.0% year-on-year growth) [9][10]. - Together, these two companies hold over 45% of the market share, benefiting from economies of scale and brand strength [9][10]. Market Opportunities - Key market drivers include strong demand in North America and Asia-Pacific, particularly due to China's low-altitude economy policy [10]. - The increasing proportion of turboprop and jet deliveries is optimizing product structure and driving average price increases [10]. - There is growing demand in professional application fields such as emergency response and business travel, expanding the market for high-end aircraft models [10]. Investment Recommendations - The report recommends focusing on three major investment directions: opportunities for market share growth among leading companies, value opportunities from high-end model demand, and innovation opportunities from new technology applications such as eVTOL and hybrid power [13].