China’s low-altitude economy set for take-off, vast potential could contribute US$700 billion by 2025
- Low-altitude economy was listed as one of the strategic emerging industries to cultivate during the recently concluded central economic work conference
- It could contribute between 3 trillion yuan and 5 trillion yuan (US$703 billion) to China’s economy by 2025
Seemingly futuristic drones delivering packages and takeaway food, work commutes using winged taxis, and sightseeing helicopters as a hobby may soon become a reality in China with its low-altitude economy set for take off, according to industry insiders.
In recent years, bolstered by a suite of supportive policies, China’s low-altitude economic sector has witnessed rapid growth and a sustained increase in both low-altitude aircraft and enterprises.
The term refers to a comprehensive realm of industries centred around civil-manned and unmanned aerial vehicles, including manufacturing, low-altitude flight operations and integrated services.
Low-altitude flight activities could include passenger transport, cargo delivery and other operational tasks.
The low-altitude economy is a frontier fiercely contested among major global economies