Since the beginning of this year, with the inclusion of "low altitude economy" in the government work report for the first time, industrial development has entered the fast lane, and many regions have successively launched low altitude economy development plans, further clarifying industry development goals and paths. At the same time, listed companies are stepping up their layout in this trillion dollar track, and several companies have recently disclosed their latest developments in the field of low altitude economy. Several regions have clarified the development path of low altitude economy. Recently, the Beijing Municipal Bureau of Economy and Information Technology and four other departments released the "Action Plan for Promoting High quality Development of Low altitude Economy Industry in Beijing (2024-2027)" (referred to as the "Plan"). According to the Plan, Beijing aims to achieve a breakthrough of over 5000 low altitude economy related enterprises within three years, with low altitude technology services covering the Beijing Tianjin Hebei region and radiating throughout the country. The international and domestic influence and brand identity of the low altitude industry will be greatly improved, and significant achievements will be made in the development of industrial clusters. The low altitude industry system will become more sound, and a national leading demonstration will be formed in areas such as technological innovation, standard policies, low altitude safety, and application demand. The industrial scale will reach 100 billion yuan. Beijing has identified six key tasks in the "Plan", including continuously strengthening the leadership of low altitude economic and technological innovation, accelerating the formation of a national benchmark for low altitude safety control, consolidating the competitiveness of the entire low altitude manufacturing industry chain, building a regulatory and operational service technology support system, optimizing low altitude infrastructure and service guarantees, and creating a national demonstration of low altitude flight application innovation. In fact, since the "low altitude economy" was first included in the government work report, several provinces have issued action plans to promote the development of low altitude economy and build a low altitude economy industry chain with local characteristics according to local conditions. In September of this year, the Jiangsu Provincial Government website released the "Implementation Opinions of the Provincial Government Office on Accelerating the High Quality Development of Low altitude Economy". This opinion clearly sets out the overall goal and specific path for the development of low altitude economy. By 2027, the coordinated management mechanism of low altitude airspace will operate efficiently, and the scale of low altitude economy development will lead the country. By 2030, a low altitude infrastructure network that is intelligent, interconnected, fully functional, safe, and efficient will be basically established, and a characteristic industrial chain covering upstream, midstream, and downstream will be formed. Low altitude flight applications will be integrated into production and life, and the low altitude economy will become a new growth pole for strategic emerging industries in the province. Efforts will be made to build a low altitude economy development highland with global influence. In the same month, the Office of the Chongqing Municipal Government issued the "Action Plan for Promoting Low altitude Airspace Management Reform and High quality Development of Low altitude Economy in Chongqing (2024-2027)". The plan proposes that by 2025, breakthrough progress will be made in the reform of low altitude airspace management. The number of low altitude aircraft in the city has increased by more than 15%, and the number of flights and flight duration have increased by more than 20%. More than 10 billion yuan has been invested in the aviation manufacturing industry, and the number of low altitude economic market entities has reached 400, including 150 in the manufacturing industry and 250 in the consumer operation industry. By 2027, the strategic support and pioneering role of low altitude airspace management reform will become more prominent. The urban air traffic and aircraft integrated management system supported by Beidou application has been basically completed. In August, the General Office of the Shanghai Municipal Government issued the "Action Plan for High Quality Development of Low altitude Economy Industry in Shanghai (2024-2027)", which proposed that by 2027, Shanghai will establish a complete industrial system for research and development, final assembly and manufacturing, airworthiness testing, and commercial application of low altitude new aircraft, create a highland for innovation, commercial application, and operation services in the low altitude economy industry, and the core industry scale will reach more than 50 billion yuan. As a representative of strategic emerging industries, the strong momentum of low altitude economic development has attracted much attention in accelerating the landing of application scenarios. In recent years, in addition to setting industrial development goals and developing related infrastructure, the cultivation of low altitude economic application scenarios has also been continuously promoted, including a series of industrial chains such as low altitude logistics and low altitude cultural tourism, which are constantly growing and expanding. In August of this year, the first batch of low altitude passenger, freight and postal logistics distribution island routes in Fujian Province were officially opened on Yuzhen Island and Wuyu Island in Longhai District, Zhangzhou City, bringing a new experience of "low altitude economy+logistics" application to island residents. It is reported that the drone takes 3 to 5 minutes to transport seafood to the low altitude logistics distribution point for passengers, cargo and mail at Yuzhen Ferry. Compared with the original mode of motorcycle transportation, boarding ferry, disembarking ferry and then pulling to the receiving point, the time has been shortened by 20 minutes. In June, the first cross provincial low altitude logistics route in China successfully made its maiden flight at Chengdu Huaizhou Airport. It is reported that Chengdu is currently accelerating the approval of unmanned aerial vehicle (UAV) distribution routes for medical supplies in provincial hospitals, municipal women's and children's hospitals, and other hospitals, and planning to promote the application scenarios of UAV distribution in mountainous areas of Qionglai City and terminal logistics in Xindu District. In terms of low altitude cultural tourism, on the eve of the National Day holiday, the Shenzhen Municipal Bureau of Culture, Radio, Television, Tourism and Sports issued 10000 free experience coupons for low altitude flying products to the public, allowing tourists to experience various low altitude flying products such as low altitude tourism and drone performances. It is expected that Shenzhen will take the lead in establishing consumer awareness and consumption habits. At the recent low altitude economic innovation application scenario press conference held in Hebei Province, a total of 37 innovative application scenarios were released, covering more than 10 fields such as "low altitude+logistics", air commuting, disaster relief and rescue, air tourism, agriculture, forestry and plant protection. It is worth noting that with the booming development of low altitude application scenarios, the unmanned aerial vehicle industry as infrastructure has also blossomed, attracting governments and enterprises to lay out their plans one after another. The East China UAV Base located in Jinshan, Shanghai has become a leader in promoting the development of low altitude economy in Shanghai. Xue Bin, Chairman of the East China UAV Base, stated that as a characteristic UAV industrial park, the base has completed the property construction of 55000 square meters of the base industrial park. Through investment and introduction, a number of growing UAV enterprises have been cultivated, and a total of 36 UAV industry chain enterprises covering manufacturing, application, materials, etc. have been introduced, with a planned total investment of 3.33 billion yuan. At present, 8 unmanned aerial vehicle logistics routes including Jinshan Zhoushan, Jinshan Huaniao Island, Jinshan Shengsi Island, and Jinshan Longhua Airport have been approved, as well as 1 square kilometer land test takeoff and landing points. It has two cross shaped flight runways with a length of 800 meters and a width of 30 meters, and is equipped with an air traffic management system, which fully supports the research and development, test flight, and scenario application testing of various small, medium, and large unmanned aerial vehicles. The competition of listed companies in the trillion dollar track has broad prospects for China's low altitude economy market. The "Research Report on the Development of China's Low altitude Economy (2024)" released by CCID Consulting shows that the scale of China's low altitude economy will reach 505.95 billion yuan in 2023, with a growth rate of 33.8%. According to the Civil Aviation Administration of China, the market size of the low altitude economy is expected to reach 1.5 trillion yuan by 2025 and 3.5 trillion yuan by 2035. Under the broad market prospects and increasingly clear industrial development plans, the low altitude economy industry has attracted the layout of many listed companies. Recently, several listed companies have disclosed their latest progress in the field of low altitude economy. On October 8th, during a survey conducted by over 120 institutions, Digital Politics stated that the company's "Xingkui Plan" is focusing on key areas such as Shandong, Zhejiang, and Hunan. The company's semi annual report shows that in May of this year, during the 7th Digital China Construction Summit, Digital Politics released the "Xingkui Plan", a city level low altitude economy SaaS platform that integrates air, space, and ground. In the first half of the year, Digital Government Communications has deployed "Xingkui Business" in Inner Mongolia, Liaoning, Jilin, Hebei, Shandong, Fujian, Guangdong and other places. The "Xingkui Plan" will bring new growth points to the growth of Digital Government Communications Business. The company attaches great importance to the market opportunities brought by the vigorous development of low altitude economy in various regions. Based on the specific needs of customers, it is developing a comprehensive management system for low altitude airspace based on the integration of air, space, and ground grids, and striving to be the first to land and put into practical use in the country as soon as possible. On the investor interaction platform, Hainan Airport recently responded to investors' questions, stating that the company's Meilan Airport Industrial Park closely revolves around the development plan of the free trade port, successfully introduces core industries such as aircraft maintenance and aviation logistics, and researches further extending the low altitude economy industry chain around research and development, manufacturing, support, training and other fields, laying a solid foundation for the development of the company's low altitude economy. In the future, it will accelerate the layout of low altitude economy. Jiechuang Intelligence revealed that the company has developed an unmanned aerial vehicle control platform based on self-developed dedicated high-performance computing technology and wireless telecommunications processing technology, which can achieve positioning management and data collection of controlled airspace aircraft. Since 2018, it has been applied in Hainan, Zhejiang, Jiangsu, Guangdong and other places to provide low altitude airspace monitoring and defense services for major events and key locations. AVIC Xifei previously stated that based on its product development spectrum, the company has broken through multiple key technologies in manufacturing technology, such as digital docking, digital measurement, precise manufacturing of aviation aluminum alloys, CNC shot peening formation and strengthening, and has the ability to research and develop large and medium-sized manned/unmanned aircraft, which can meet the research and development needs of related products in the low altitude economy field. From the perspective of the industry, Caitong Securities believes that there are five driving factors for the development of China's low altitude economy: firstly, the problem of ground traffic congestion needs to be solved, and China's airspace resources have not been fully tapped; Secondly, eVTOL (electric vertical takeoff and landing aircraft) has economic feasibility and broad cost reduction potential; Thirdly, autonomous driving technology is gradually maturing, and China's three electric systems are leading the world; The fourth is the standard landing of the aircraft, and the world's first certificate has been issued in China; The fifth is the high adaptation between low altitude economy and downstream applications, with leading enterprises laying out in advance. CITIC Securities believes that the low altitude economy is a "aviation+" integrated economic form and a global strategic emerging industry. With the continuous support of relevant policies in China, it has enormous potential for future development. As a new track that combines traditional and new fields, it is expected that the low altitude economy will improve infrastructure and operational construction on the basis of the aviation industry, expand more advanced aircraft technology, broaden new application scenarios, and provide more development increments for related industries. (New Society)