低空经济系列电话会议五-近期政策及产业变化梳理

Summary of Low Altitude Economy Conference Call Industry Overview - The low altitude economy has become a national strategy, with the central government emphasizing its importance in the March 2023 work report as a new growth engine and a key direction for new productivity [1][2] - Current applications of the low altitude economy primarily involve helicopters and industrial drones, with significant future potential in electric vertical takeoff and landing vehicles (eVTOL), which are expected to alleviate traffic congestion in major cities [1][2] Development Stage and Challenges - The low altitude economy is currently in its initial development stage, with no companies having obtained an Air Operator Certificate (AOC) for commercial operations yet. However, companies like EHang have submitted applications, indicating a future acceleration in unmanned passenger operations [1][3] - Despite high interest from the capital market, drone-related stocks have underperformed recently, but the sector remains worthy of attention due to its substantial growth potential [3][4] Policy Support - Policy support is crucial for the development of the low altitude economy. The National Development and Reform Commission (NDRC) has highlighted a potential shortage of 1 million drone operators, with the number of registered drones expected to grow from 1.26 million in 2023 to 2.27 million by the end of 2024 [4][5] - The Ministry of Industry and Information Technology (MIIT) has committed to nurturing the low altitude economy alongside smart manufacturing, indicating its equal importance [4] Talent Demand - The rapid increase in registered drones has led to a surge in demand for drone operators. Currently, there are about 120,000 operators in China, and by 2024, an estimated 200,000 operators will be needed to manage the growing fleet of drones [5][6] - Long-term projections suggest that demand for specialized talent, including for eVTOL applications, could exceed 1 million [5] Infrastructure and Investment - The low altitude economy requires significant infrastructure development, including the construction of helipads and general aviation runways. The establishment of such infrastructure is critical for the industry's healthy growth [8][9] - Recent government reports have outlined plans to create new growth engines, including low altitude economy initiatives, which are expected to attract substantial investments over the next three years [7][9] Leading Companies - EHang is identified as the first domestic company focused on the low altitude economy and is listed on NASDAQ. Its subsidiary has submitted an application for an unmanned aerial vehicle operation certificate, indicating its integrated capabilities from manufacturing to operation [10] - The company has seen a continuous increase in the delivery of its main model, the EH216 series, and is experiencing a rapid increase in order volume [10] Local Government Support - Local governments are implementing various subsidy policies to promote the low altitude economy, with cities like Shenzhen leading the way in providing financial incentives for vertical takeoff platforms and industrial drone operations [11] Future Prospects - The 2025 Civil Aviation Development Fund will provide significant subsidies for general aviation and small airport construction, which is expected to enhance the frequency and routes of general aviation flights [13][14] - Upcoming industry events, such as the Suzhou Low Altitude Economy Expo and the Zhuhai Airshow, are anticipated to stimulate market interest and showcase innovative products [14] Technological Developments - The micro electric (eVTOL) sector is advancing, with companies like EHang and Fengfei leading the way. EHang relies on external supply chains, while Fengfei utilizes a more closed-loop supply chain [15] - Solid-state battery technology is crucial for the development of eVTOL, with companies like CATL making significant progress in this area [17] Conclusion - The low altitude economy is positioned for substantial growth, driven by strong policy support, increasing demand for skilled operators, and ongoing technological advancements. The sector presents numerous investment opportunities and is expected to play a significant role in future transportation solutions [1][2][4][10]