CITIC Securities: The size of the low-altitude economy market is expected to continue growing.

The CITIC Construction Investment Research Report pointed out that 2024 is the first year of development for low-altitude economy, and the future Chinese low-altitude economy market is a trillion-yuan blue ocean. By 2023, our country's low-altitude economy market size will exceed 500 billion yuan. With the continuous expansion of downstream application fields, it is expected to continue to grow. According to civil aviation and logistics data, the equipment value accounts for 5-15% of operating income, and infrastructure accounts for 20% of operating income. According to the "General Aviation Equipment Innovation and Application Implementation Plan," a trillion-level market scale will be formed by 2030. Starting from 2027, China will focus on improving the supply capacity and industrial innovation of general aviation equipment. With enhancing technological innovation, improving product line, and accelerating demonstration applications as the core of 20 key tasks, it will promote the exploration and practice of new industrialization in the aviation manufacturing industry. By 2025, many eVTOL companies have received domestic and foreign intention orders, reflecting the vast space of the low-altitude economy market.