On February 2nd, ten departments, including the State Administration for Market Regulation, the Central Air Traffic Management Office, and the Civil Aviation Administration of China, jointly issued the "Low-Altitude Economy Standard System Construction Guide (2025 Edition)". The guide proposes that by 2027, the low-altitude economy standard system will be basically established, fundamentally meeting the needs for the safe and healthy development of the low-altitude economy. By 2030, over 300 standards in the low-altitude economy sector are targeted, with a structurally optimized, advanced, rational, and internationally compatible standard system essentially formed, providing robust support for the sector's secure and sound development.
Currently, the low-altitude economy is transitioning from concept validation to scenario-based applications, marked by a rapid increase in the number of related enterprises and continuous breakthroughs in market size. The industry widely believes that realizing large-scale operation hinges on key prerequisites: improving the low-altitude infrastructure network through institutional frameworks, establishing unified regulatory standards, precisely aligning with market demand, and creating a market-oriented operational system. Policy innovation is steadily building a solid foundation for the development of the low-altitude economy industry.
On December 26, 2025, the National Development and Reform Commission issued the "Statistical Classification of the Low-Altitude Economy and Its Core Industries (Trial)", which for the first time clearly defined the concept and industrial boundaries of the low-altitude economy, providing an authoritative basis for its standardized development and precise statistical monitoring in China. On December 12, 2025, the Aircraft Airworthiness Certification Department of the Civil Aviation Administration released the "Airworthiness Standards for Restricted Category Unmanned Aircraft Systems (Draft for Comments)" and the "Airworthiness Standards for Powered-Lift Aircraft (Draft for Comments)", aiming to optimize the certification workflow.
At the local level, the low-altitude economy is generating significant industrial cluster effects, increasingly highlighting its synergistic advantages. The "Several Measures of Shanghai on Linking the Yangtze River Delta to Accelerate the Construction of an Advanced Manufacturing Cluster for the Low-Altitude Economy" explicitly states the goal for Shanghai's core low-altitude economy industry scale to exceed 80 billion yuan by 2028, cultivating 10 leading complete aircraft enterprises. Chongqing issued the "Several Policy Measures for Promoting the High-Quality Development of the Low-Altitude Economy in Chongqing", which employs multi-dimensional efforts to encourage enterprise flight testing, promote innovation in low-altitude manufacturing, and strive to build a strong city for low-altitude economy innovation with Chongqing characteristics.
According to predictions from the Civil Aviation Administration of China, China's low-altitude economy market size will reach 1.5 trillion yuan in 2025 and is expected to hit 3.5 trillion yuan by 2035. The low-altitude economy has already become a core track for cultivating new quality productive forces and creating a trillion-yuan-level emerging industry. Facing the potential of this trillion-yuan market, listed companies are entering the low-altitude economy arena from various angles, accelerating their strategic layouts.
Shenzhen Urban Transport Planning Center Co., Ltd. recently announced plans for a private placement to raise up to 1.8 billion yuan. The net proceeds, after deducting issuance costs, will be used for developing a transportation industry large model and ecosystem applications for全域智能体协同 (pan-domain intelligent agent collaboration), research, development, and large-scale application of embodied intelligent transportation equipment like low-altitude and autonomous driving devices, global business expansion projects, and supplementing working capital.
Unigroup Guoxin Microelectronics recently announced that, to further strengthen forward-looking technology research and industrial chain construction, and enhance the company's scientific research, innovation, and technology transformation capabilities, it has approved the establishment of a Central Research Institute. This institute will conduct research on new architectures, new models, and efficient algorithms for edge AI chips targeting applications such as autonomous driving, embodied robots, and low-altitude aircraft.
Huaxi Securities stated that the low-altitude economy has officially been elevated to a national strategic level for systematic layout,并列 (listed alongside) aerospace as a key cluster, reflecting the top-level design for national airspace resource development and立体化产业协同 (three-dimensional industrial collaboration). Under the pressures of global technological competition and domestic high-quality development requirements, the low-altitude economy, as an emerging industry integrating aviation, transportation, communications, and new energy, benefits from cluster development that can spawn several new growth points with trillion-yuan market potential.
Guotai Junan Securities believes that in recent years, policies related to the low-altitude economy have gradually become more detailed, and the industry is maturing. As the industry scale continues to expand, the investment value of companies布局相关产业链 (positioned in the related industrial chain) is becoming prominent for three key reasons. Firstly, the essence of the low-altitude economy is the efficient development of airspace resources and立体化产业协同 (three-dimensional industrial collaboration), and supporting policies are becoming increasingly完善 (comprehensive). Secondly, the consumer-grade market is beginning to show its potential, while industrial-grade low-altitude scenarios are still in their early stages. For the consumer market, data from Zhiyan Consulting shows that China's consumer-grade drone market size reached 48.899 billion yuan in 2024, a year-on-year increase of 20%. For the industrial market, data from Zhongshang Industrial Research Institute indicates that the market size for industrial drones and related services in China reached 113.4 billion yuan in 2023, demonstrating greater development potential compared to the consumer-grade low-altitude market. Thirdly, the industrialization progress of drones is relatively fast, yet there remains room for improvement in policies and standards. Drones represent one of the most显著 (prominent) growth tracks within the low-altitude economy sector.
Relevant Hong Kong stock concept stocks include: ZTE (00763): ZTE has long been committed to promoting standards, conducting R&D, and building an ecosystem for integrated communication, sensing, computing, and intelligence technologies. Recently, ZTE, in collaboration with industry partners, completed the deployment of a 5G-Advanced integrated sensing and communication system pilot project at Xinglong Lake. Low-altitude perception and detection data is also being displayed on the Chengdu Low-Altitude Flight Service Platform, indicating accelerated business progress. XPENG-W (09868): On January 27th, He Xiaopeng, Chairman and CEO of XPeng, shared a video on social media detailing his experience taking the "Land Aircraft Carrier" flying car to the company's annual meeting. He expressed hope that between 2026 and 2028, XPeng can make steady progress and achieve a successful breakthrough in this related field. GAC GROUP (02238): On January 22nd, GAC Group stated on an interactive platform that as of the end of 2025, its mass-production model flying car, the GOVY AirCab, had received nearly 2,000意向订单 (letters of intent). It is currently undergoing comprehensive airworthiness review and is expected to obtain certification and begin deliveries by the end of 2026. After its launch in Hong Kong in June 2025, the GOVY AirCab was showcased in countries and regions including Germany, the UAE, and Brazil, with prototype deliveries completed in Hong Kong and Beijing in July and October of the same year, respectively. Contemporary Amperex Technology Co. Limited (03750): On November 22, 2025, AutoFlight, an ecosystem partner of CATL, launched the world's first "Sea-Air Integrated Low-Altitude Economy Solution" in Kunshan, Jiangsu. This innovative combination of a "zero-carbon water airport + eVTOL aircraft" extends low-altitude infrastructure to vast water areas for the first time, achieving a leapfrog breakthrough in both infrastructure and application scenarios. It also represents another practical implementation of the "All-Domain Incremental Era" concept proposed by CATL's Chairman Zeng Yuqun, pushing the low-altitude economy from pilot demonstrations towards scaled development and opening new pathways for energy transition and industrial upgrading.
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