Technology

China’s low-altitude economy set for take-off, vast potential could contribute US$700 billion by 2025

0
Please log in or register to do it.


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

International Digital Economy Academy
During the recently concluded central economic work conference, the low-altitude economy was listed as one of the strategic emerging industries to cultivate, along with biomanufacturing and commercial aerospace.

“The low-altitude economy is a frontier fiercely contested among major global economies,” according to a low-altitude economy development white paper published last month by International Digital Economy Academy in Shenzhen.

The low-altitude economy could contribute between 3 trillion yuan (US$422 billion) and 5 trillion yuan to China’s economy by 2025, the white paper said.

Due to the limited space at ground level, the development of big cities is increasingly and inevitably extending into airspace, said Harry Shum, a Chinese computer scientist and a foreign associate at the US National Academy of Engineering.

01:15

Drone food deliveries take off in China’s tech city, Shenzhen

Drone food deliveries take off in China’s tech city, Shenzhen

“The future prospects of the low-altitude economy are vast, potentially reaching trillion-dollar industry scales significantly sooner than that of autonomous vehicles,” he said during a seminar hosted by the Shenzhen Institute of the Artificial Intelligence and Robotics for Society in May, according to the Southern Daily.

“Moreover, the future number of unmanned aerial vehicles is expected to be several times today’s figures, presenting enormous opportunities for both upstream and downstream industries.”

As of the end of August, the number of registered civilian unmanned aerial vehicles in China had surpassed 1.11 million, marking an 16 per cent increase compared to the end of 2022, according to the Civil Aviation Administration of China.

The number of drone pilot licenses issued also reached 182,000, while the number of registered drone operating enterprises in China exceeded 17,000.

The construction of low-altitude infrastructure is poised to drive effective investments with investment-led economic growth

International Digital Economy Academy

Civilian drones, meanwhile, have accumulated over 16.8 million flight hours from January to August.

The International Digital Economy Academy white paper added that with its innate digital economic DNA, the low-altitude economy is also poised to fully capitalise on the dividends brought about by the development of information technology, digitisation and intelligent technologies.

“From an investment perspective, the construction of low-altitude infrastructure is poised to drive effective investments with investment-led economic growth and traditional infrastructure investments facing growth bottlenecks,” the white paper said.

“As a novel frontier for future development, the low-altitude economy boasts extensive application prospects, harbouring substantial investment value and yielding higher returns on investment projects.”

In February 2021, the concept was written into the national development plan for the first time, and from the start of next month, the Interim Regulations on the Management of Unmanned Aircraft Flights will be implemented.

This year, 16 provinces have included low-altitude economy, general aviation and other related concepts in their government work reports.

Since September, low-altitude economic development conferences, forums and seminars have also been held in multiple provinces including Anhui, Jiangxi, Hainan and Guangdong.

China has also risen as a major manufacturer and operator of drones, accounting for more than 70 per cent of global sales, according to a white paper on the general development of the aviation industry published last year by the Aviation Industry Corporation of China.



Source link

MOH: Company allegedly offering healthcare awards for S$10K is under investigation
The Investor’s Guide to Magnificent 7 in 2024