7月18日，一架载货无人机在西咸新区无人机试飞基地起飞，经过约18分钟的飞行，将携带的物品 投送到西安高新区，顺利完成低空飞行投递任务，标志着西咸新区在低空经济服务领域迈出了重要一 步。 9月13日8时许，在西安航空基地（蓝田）机场，飞行教练张子帆和学员吕林登上一架运动类固定翼 飞机。飞机在跑道上加速，很快腾空而起，飞向蓝天。大约1个小时后，飞机平稳降落，飞行训练任务 结束。走出驾驶舱的吕林兴奋地说："我从小就渴望驾驶飞机飞向蓝天，但一直没有机会。得知这里有 运动类飞机飞行培训项目，我就报了名，终于圆梦蓝天。" 如今，陕西越来越多的民用航空器翱翔天空，执行飞行培训、航空救援、空中搜索、森林灭火、农 林喷洒、观光旅游等任务。低空经济快速升温。 低空飞行 热度升温 作为陕西信义通用航空有限公司（以下简称"信义通航"）的飞行教练，张子帆每个工作日都要在机 场执行飞行训练任务。飞行培训成为公司的热门业务，帮助越来越多的人圆蓝天飞翔梦。 "信义通航推出的飞行培训业务属于低空飞行。"张子帆介绍，低空通常指距正下方地平面垂直距离 在1000米以内的空域。低空经济就是以这部分空域为依托，包括使用民用有人驾驶、无人驾驶航空器， ...

Investment Rating - The report maintains an "Outperform" rating for Cirrus Aircraft (2507 HK) with a target price of HK$60.00, indicating expected relative performance above the market benchmark [2][15]. Core Insights - The company's performance significantly exceeded expectations, demonstrating robust profitability with a total revenue of USD 594 million in 1H2025, a year-on-year increase of 25.1%. Net profit reached USD 64.97 million, up 82.5% year-on-year, and the gross profit margin improved to 36.2% [3][12]. - Aircraft deliveries and service revenue are key growth drivers, with 350 aircraft delivered in 1H2025, a notable increase from 287 in the same period of 2024. The average selling price of SR2X aircraft rose to USD 1.14 million, reflecting a 9.6% year-on-year increase [4][13]. - The company has a strong order backlog of 1,056 aircraft as of June 30, 2025, indicating continued strong market demand and a deepened global presence across 36 countries [4][14]. Financial Summary - Revenue projections for 2025-2027 are USD 1.394 billion, USD 1.634 billion, and USD 1.904 billion, with corresponding net profits of USD 141 million, USD 176 million, and USD 206 million [5][15]. - The adjusted EBITDA margin for 1H2025 was 17.1%, up 3.7 percentage points year-on-year, highlighting improvements in cost control and operational efficiency [3][12].