China's low-altitude economy is about to take off!
At present, many places are actively seizing the strategic opportunity period and window period of intensive innovation and high-speed development of low-altitude economic industries, accelerating the formation of low-altitude economic industrial agglomeration effect and innovation ecology, and seeking development in the sky.
At the just-concluded economic work conference, low-altitude economy and biological manufacturing, commercial aerospace and other areas were listed as a number of strategic emerging industries.
"Low-altitude economy" refers to the flight economic activities below 3,000 meters altitude, with civil manned and unmanned aerial vehicles as the main form of comprehensive economic form, mainly including low-altitude manufacturing, low-altitude flight operation and comprehensive services and other industries. Low-altitude flight activities include manned, cargo, and other operations.
16 provinces will write the low-altitude economy into the first work report
Hainan released the country's first provincial airspace map for unmanned aerial vehicles, the Shenzhen Municipal Party Committee held a special meeting to study and deploy low-altitude economic development, and EHang obtained the world's first unmanned manned aircraft system type certificate ......The "low-altitude economy" is getting hotter and hotter. According to incomplete statistics, in 2023, 16 provinces will write low-altitude economy, general aviation and other related content into the first work report. Since September alone, Anhui, Jiangxi, Hainan, Guangdong and other places have held low-altitude economic development conferences or forums. Recently, the National Development and Reform Commission and other departments issued a notice to once again promote and learn from Shenzhen's comprehensive reform pilot innovation measures and typical experience, "innovative low-altitude economic development new mechanism" is one of the 22 experiences.
From the national level, all provinces have continuously strengthened the status of low-altitude economic industries, among which Shenzhen and Jiangxi Province have put forward corresponding measures on the basis of clear development plans, Hunan Province has improved airspace division and collaborative management rules, and other cities are still mainly strategically emphasized.
The low-altitude economy industry is developing rapidly
Policies have been intensively introduced
In February 2021, the concept of "low-altitude economy" was written into the national plan for the first time. The Communist Party of China issued the "National Comprehensive Three-Dimensional Transportation Network Planning Outline" to develop the transportation platform economy, hub economy, channel economy, and low-altitude economy. The "Outline of the Strategic Plan for Expanding Domestic Demand (2022-2035)" proposes to accelerate the cultivation of islands, cruises, low-altitude, deserts and other tourism formats, and release the consumption potential of general aviation.
From January 1, 2024, the "Interim Regulations on the Flight Management of Unmanned Aerial Vehicles" will be officially implemented, marking that China's drone industry will enter a new stage of standardized development with "laws to follow".
The "14th Five-Year Plan" for the high-quality development of the manufacturing industry in Guangdong Province proposes to rely on Guangzhou, Shenzhen, and Zhuhai to break through key technologies such as UAV special chips, flight control systems, power systems, and sensors, expand and strengthen the UAV industry, and promote innovative applications in major industries such as logistics, agriculture, surveying and mapping, power inspection, safety patrol, and emergency rescue.
In the "Action Plan for Shanghai to Build a Future Industrial Innovation Highland and Develop and Expand Future Industrial Clusters", "low-altitude economy" is a major highlight, proposing breakthroughs in tiltrotors, composite wings, intelligent flight and other technologies, developing manned electric vertical take-off and landing aircraft, and exploring new modes of air transportation.
Wuhu, Anhui Province issued the "Action Plan for the High-quality Development of Low-altitude Economy in Wuhu City (2023-2025)", proposing that by 2025, the number of low-altitude economy-related enterprises will exceed 300, and the output value of low-altitude industries will reach 50 billion yuan.
The "Several Measures of Shenzhen on Supporting the High-quality Development of the Low-altitude Economy (Draft for Comments)" issued in August is the most comprehensive, practical and "entrenchment" industrial policy among the cities. Low-altitude economic enterprises newly settled in Shenzhen will be given a subsidy of up to 20 million yuanAdditional industrial investment projects in Shenzhen will be given a subsidy of up to 50 million yuanOpen a new route for low-altitude logistics distribution, and give an annual subsidy of up to 20 million yuanEnterprises, universities, etc. to build high-end innovation carriers, to give a maximum of 10 million yuan of funding;Formulating industry-related standards can also receive a subsidy of up to 2 million yuan ......
Low-altitude economic industry data dashboard
Low-altitude economic industrial chainUpstreamIt is a raw material and component, which can be divided into aviation parts, aero engines, aviation components and aerospace systemsMidstreamIt is a low-altitude economic product, including drones, ** and evtol;DownstreamApplications include low-altitude logistics, pilot license training, medical aid, low-altitude tourism, aerial photography, aerial inspection, etc.
The whole industrial chain of low-altitude economy can be roughly divided into four parts:
1. Low-altitude manufacturing industry
It mainly provides aircraft and other products and services for low-altitude flight activities, including the research and development, manufacturing and sales of various aircraft, related parts and components and airborne equipment for general aviation, police and customs.
Second, the low-altitude flight industry
It can refine the industrial categories and service chains according to production operations, public services, aviation consumption, etc. InProduction jobsIt mainly provides various flight operations for industry, agriculture, forestry, animal husbandry and fishery, including agriculture and forestry flights, animal husbandry flights, fishery flights, aerial exploration, petroleum services, power operations, etc.;InPublic servicesIn terms of providing various aviation service flight activities for relevant units and even the whole society, including emergency rescue, medical aid, short-distance transportation, air transportation, air logistics, police flight, customs flight, government flight, etc.;InAviation consumptionIt mainly provides consumer aviation activities for various consumer groups, including flight training, air tours, private flights, aviation sports, recreational flights, etc.
3. Low-altitude support industry
Vigorously develop related industries that provide support services for low-altitude flights and airspace safety. Including the construction and operation of infrastructure such as general airports, first-class take-off and landing points, flight camps, flight service stations, maintenance bases, communications, navigation, meteorology, oil depots, etc., as well as the construction and operation of low-altitude airspace control systems, UAV flight information systems, UAV countermeasure systems, etc.
Fourth, the comprehensive service industry
This kind of industry can cover all kinds of service industries that support and assist the development of low-altitude economy, mainly aviation exhibition, advertising, consulting, science and education, cultural media, information, leasing, insurance, intermediary, community services and other categories.
The status quo of the low-altitude economy industry
"East Lake Industry Pass".According to the data system, as of the end of August this year, there were more than 1.11 million civil unmanned aerial vehicles (UAVs) registered with real names in China, an increase of 15% compared with the end of 20229%；The drone operator license has been issued for 1820,000 copies, and more than 1 registered drone operating enterprises in the country70,000.
fromRegional distributionAt present, the UAV industry in South China and East China is developing rapidly, and the largest number of enterprises are gathered. Among them, Guangdong has formed a UAV industry cluster in the Pearl River Delta with Shenzhen as the core, and it is also the region with the highest concentration of UAVs in China.
At present, Shenzhen's industrial-grade UAVs account for 60% of the domestic market share;The annual export of drones was 18 billion yuan, accounting for about eighty percent of the country's share, mainly consumer drones, plant protection drones, industry drones, toy drones and supporting products.
From a global perspective, the demand for UAVs is mainly concentrated in Europe and the United States, and consumer-level UAV manufacturers represented by Shenzhen enterprises have become the main providers of consumer-level UAVs in the world, with output products reaching 70% of the world's total, and industry-level UAVs also occupy a large share.
As a new field for future development, the low-altitude economy has broad application prospects and a high rate of return on investment projects. In the positive policy environment in China, market players and state-owned assets platforms have actively entered the market to explore innovative breakthroughs in various scenarios of the low-altitude economy.
Cargo
In view of the express delivery scenario of fixed routes and fixed times, Fengyi Technology, a subsidiary of SF Group, has been operating some routes in Shenzhen on a regular basis, focusing on express delivery and medical supplies including vaccines and serums, so as to achieve direct flights between transit sites and unit areas, hospitals and testing centers. As of May this year, Meituan has operated 15 routes in Shenzhen and Shanghai, with a total of more than 100,000 orders
manned
As the leading operator, the general aviation enterprises continue to expand routes and flight sorties, such as the construction and management of more than 30 airports in the eastern general aviation, and continue to extend their business to cross-border, business, intercity, sightseeing, emergency and many other scenariosThe eHT216-S type qualification review (TC) has entered the final stage of proof of compliance and verification, and the whole process has been completed by more than 90%.
City management
As an industry-level drone operator, DJI has also been exploring cooperation with the power supply bureau, public security bureau and other departments to apply drones to power inspection in batches, including daily inspection, infrared temperature measurement, fault location, and removal of floating objects.
Analysis of listed companies
"East Lake Industry Pass".According to the data system, there are currently 31 listed companies related to China's low-altitude economy, mainly distributed in Beijing and Sichuan Province, with 4 each.
Major Listed Companies:
[SF Holdings (002352)].
Fengniao Technology, a large-scale UAV company under SF, has become the first enterprise in China to carry out commercial trial operation of tonnage-level large-scale industrial load and long-endurance regional logistics drones in specific scenarios, and is also the first large-scale UAV company in the world to obtain regulatory approval to enter the commercial trial operation of regional logistics by using the operation risk assessment method in specific scenarios.
[Zhongnong Lihua (603970)].
As a veteran plant protection machinery manufacturer, Zhongnong Fengmao, a subsidiary of Sinoagri Lihua, is the "overlord" of ground plant protection machinery, and is about to form a comprehensive plant protection product system with both ground and air.
[China Satellite (600118)].
China Satellite and its holding subsidiary, Aerospace Star Technology***, are the controlling shareholders of 10% and 70% of the shares. Aerospace is mainly engaged in UAV application system integration, UAV system research and development, design, production, sales, and surveying and mapping services. Backed by listed companies and the actual controller of central enterprises, in recent years, it has repeatedly won large orders in the field of post-disaster monitoring drones, surveying and mapping drones, marine fishery monitoring drones and other industries in the field of application of drones.
[Zhonghaida (300177)].
In the aerial survey business, the company can provide aerial photogrammetry software and hardware solutions, mainly including the sales of software and hardware for aerial surveying such as fixed-wing multi-rotor UAVs, as well as unmanned aerial surveys, power line inspections, forestry fire prevention, river patrols, city-level 3D modeling and other UAV survey and survey solutions.
[Zongheng shares (688070)].
The company is in the leading position in the field of vertical take-off and landing fixed-wing UAVs.
[Guanglian Airlines (300900)].
The company focuses on the R&D, production and manufacturing of high-end aerospace equipment, and is a well-known private aerospace industry supporting products in China. The company's UAV business is mainly the design, manufacture and assembly of industrial-grade rotary-wing UAVs and fixed-wing military UAVs.
[Dahua shares (002236)].
Since its establishment, Huafei Intelligent has been focusing on the field of public safety, and the company has independently developed a wide range of products, including intelligent quadcopter drones, six-rotor drones and a variety of mounting systems with thermal imaging, visible light and other functions.
[Wanfeng Aowei (002085)].
Wanfeng Diamond Aircraft has stockpiled a large number of general aviation R&D and design technologies featuring new piston fixed-wing aircraft, aero engines, full hybrid engine aircraft, vertical take-off and landing manned aircraft and vertical take-off and landing drones, and has achieved global leadership in many industry technologies and applications.
【Sunward Intelligence (002097)].
In 2002, it entered the field of general aviation, and in 2016, it successfully acquired the first Canadian company, and its business is subdivided into three major sections: aviation manufacturing, aviation operation and aviation operator services, and initially formed a development pattern of the whole industry chain layout.
[CITIC Haizhi (000099)].
The company has the qualification and ability to operate the whole business of general aviation. The company's market share of offshore oil flight services has been firmly maintained in the forefront of the industry, and it is the only provider of pilotage operations in domestic ports, and is engaged in offshore oil flight services abroad.
[Zongshen Power (001696)].
Chongqing Zongshen Aero Engine Manufacturing Co., Ltd., a holding subsidiary, is committed to the design, development, production and manufacturing of aviation piston engines, propellers, aviation power integrated systems and peripheral derivative products, and has broken through the "propeller-fly-engine matching", "aviation piston engine electronic control technology" and "aviation electric variable pitch screw".
[Leejun shares (002651)].
As a domestic subcontracting service provider for Airbus, Boeing and COMAC, it provides supporting products for the fuselage structure of large passenger and cargo aircraft and domestic regional aircraft (ARJ21), and has successfully undertaken the outsourcing processing business of some parts of COMAC C919.
[Tianyi is good (688033)].
Tianren Daohe, a subsidiary, has completed the development of UAV parts, aircraft structural parts, dispersal system structural parts, space detector structural parts and other products, and most of the products have been delivered to samples. Among them, products such as directional acoustic wave dispersion system lightweight and aircraft structural parts have been sold. The business segment achieved an operating income of 1795230,000 yuan, accounting for 2 percent of total operating income67%。
[Sichuan University outwitted (002253)].
The company is a leading product development, system integration and service provider of 3D face recognition system and air traffic control system in China.
[Hengyu Information Communication (300965)].
The company's main business covers airborne multi-functional display equipment, airborne Beidou navigation equipment, airborne high-reliability display modules, visual navigation systems, etc., and the company has a complete industrial chain layout.
[Hangxin Technology (300424)].
Founded in 1994, Guangzhou Hangxin Aviation Technology Co., Ltd. has a number of subsidiaries such as Hangxin Electronics, Shanghai Hangxin, Hong Kong Hangxin, Harbin Hangwei, Tianjin Hangxin, Zhuhai Hangxin, Estonian Magnetic Aircraft Maintenance Company (MMRO), etc., and is committed to providing technology and product services for aircraft safety construction in the aviation field.
Andaville (300719).
Beijing Andawell Technology Co., Ltd. is a comprehensive provider of aviation technology solutions integrating aviation airborne equipment development, airborne equipment maintenance, measurement and control equipment development and intelligent manufacturing.
[Aerospace Rainbow (002389)].
The company is the leading force in the domestic mid-to-high-end UAV industry, an important force in the UAV-borne intelligent ammunition industry and the core force of UAV application technology services.
[AVIC (Chengdu) UAV (688297)].
The Company is mainly engaged in the design, development, manufacturing, sales and service of unmanned aerial vehicle systems.
[Zhongzhi shares (600038)].
The company is the world's leading and general and regional aircraft research and production base, and is the only A-share listed platform in the first-class sector of China's aviation industry.
[Star Network Mida (002829)].
The company is one of the few unmanned system companies in China that has a whole industry chain from core components to task equipment to unmanned platforms.
Dawn Airlines (300581).
It is a private listed military enterprise specializing in the research and development of aviation equipment. Anseo has formed a R&D team of more than 300 people, established industrial bases in Xi'an and Nanjing, and has successfully listed on the Shenzhen Stock Exchange. Based on the aviation field, Chenxi's main business is R&D, production and sales of aviation electromechanical products and related professional technical services, with more than ten technical specialties such as inertial navigation, engine control, flight control computer, unmanned aerial vehicle, avionics, etc., and has reached the domestic advanced level in many technical fields.