Drone delivery drivers deliver coffee in scenic areas, Airbus operates regularly in some places, and drones deliver medical supplies across islands... In 2024, the "low altitude economy" was first included in the government work report. Over the past year, China's low altitude economy has continued to develop in exploration, showing a high-speed growth trend. Research institutions predict that the market size of China's low altitude economy will reach 670 billion yuan by 2024, and the low altitude economy is expected to exceed one trillion yuan by 2026.

Not long ago, the global headquarters base of Wofei Changkong officially started construction in the Future Science and Technology City of Chengdu High tech Zone. This is an important milestone for the company to enter the production and manufacturing sprint stage after completing key technological breakthroughs, "said Guo Liang, CEO and Chief Scientist of Wofei Changkong. After the project is completed, it will mainly be used for the mass production of Wofei Changkong's self-developed AE200 products, which will effectively promote the close connection between upstream and downstream enterprises and the deep cooperation of research teams, thereby accelerating the development of low altitude economic industry agglomeration and helping Chengdu to build a" Western Low altitude Economic Center ".

While industrial projects are accelerating their implementation, many enterprises are also accelerating the layout of innovative products. For example, in the field of electric vertical takeoff and landing aircraft (eVTOL), Yihang Intelligent EH216-S has obtained a production license issued by the Civil Aviation Administration of China, making it the first research and development manufacturing enterprise in the eVTOL industry to have all three certificates in place; Fengfei Aviation V2000CG has obtained the model qualification certificate issued by the Civil Aviation Administration of China, becoming the world's first eVTOL of tonnage or above to pass the model qualification certification

In 2024, the development of low altitude factors in China will continue to improve, driven by technological innovation, and innovative products will be released one after another. Wang Hao, director of the Industrial Policy Research Institute of the China Electronics Information Industry Development Research Institute, told reporters that China is the world's largest source of patent technology for civil drones, and many domestic enterprises are actively laying out patent applications in the eVTOL field.

According to data from CCID Consulting, as of September 2024, the number of low altitude economy related enterprises in China has exceeded 50000, including 118 listed companies, 211 specialized and new "little giant" enterprises, and 3991 high-tech enterprises.

This is inseparable from the continuous increase in policy support for the low altitude economy sector. In 2024, the concept of "low altitude economy" was first included in the government work report, which clearly stated the need to actively build new growth engines such as biomanufacturing, commercial aerospace, and low altitude economy. Multiple departments have also launched deployments, among which the "Implementation Plan for Innovative Applications of General Aviation Equipment (2024-2030)" jointly issued by the Ministry of Industry and Information Technology and four other departments proposes that by 2030, general aviation equipment will be fully integrated into various fields of people's production and life, becoming a powerful driving force for low altitude economic growth and forming a trillion dollar market scale.

Many local governments have also released policy documents related to low altitude economy. The "2025 Outlook for the Development of Low altitude Economy in China" recently released by the China Electronics Information Industry Development Research Institute shows that 45 cities across the country have launched policy plans for low altitude economy.

In 2024, the enthusiasm for developing low altitude economy will be high in various regions, and airspace reform, scene cultivation, industrial development, and top-level design will continue to deepen. Low altitude economy has become a hot topic of discussion in all walks of life, and cross-border communication and consensus have initially emerged, "said Yang Ling, head of the Intelligent Equipment Industry Research Center of CCID Consulting.

According to CCID consultants' calculations, the scale of China's low altitude economy is expected to reach 67025 billion yuan by 2024. Among them, the scale of low altitude aircraft manufacturing and low altitude operation services accounts for nearly 55%, and the contribution of other economic activities indirectly and qualitatively generated is close to 40%.

It is worth noting that in the face of a vast market space, investment and financing in the low altitude economy sector will be active in 2024, with unmanned aerial vehicles and eVTOL enterprises becoming hotspots for investment.

From March to August 2024, the company completed five rounds of financing worth billions of yuan in six months. Currently, the new round of financing is in the process of delivery and will be announced soon. "Huang Xiaofei, partner and senior vice president of Volant Airlines, told reporters that aircraft development is a costly and long-term project that requires more patient capital to enter. At present, over 860 intention orders have been signed for the Valante VE25-100 eVTOL model, and the financing will mainly be used for the development and commercialization of this eVTOL model.

According to incomplete statistics, there have been 19 investment and financing events in the field of low altitude aircraft from January to June 2024, with over 70% of investment and financing projects directed towards unmanned aerial vehicle enterprises, including manufacturers of unmanned aerial vehicles, systems, and components. From a trend perspective, the investment field is gradually extending from complete aircraft to the entire chain of key systems and components, "said Yang Ling.

Looking ahead to 2025, there is vast potential for the development of China's low altitude economy. Related infrastructure construction, technology research and development investment, and policy promotion will continue to increase, and low altitude enterprises will accelerate their commercialization progress. According to CCID Consulting's estimation, the scale of China's low altitude economy will reach 859.17 billion yuan by 2025, and it is optimistically predicted that the scale of low altitude economy is expected to exceed one trillion yuan by 2026. The low altitude economy is expected to reach a new height and become an emerging force with great vitality and potential in China's economic development.