The 2026 International Low-Altitude Economy Expo was held from July 22 to 25 at the National Exhibition and Convention Center (Shanghai). A walk through the venue this year reveals that while drones and eVTOLs of all sizes still dominate the floor, a significant shift has occurred compared to previous years when entire aircraft models filled the booths. Now, a growing number of listed companies are showcasing the systems, components, and operational capabilities that power these flying machines.
This year's expo brings together 452 companies and institutions, displaying 570 new aircraft, including 51 eVTOLs and 501 drones. The exhibits cover the entire spectrum from aircraft manufacturing and core components to infrastructure, safety assurance, and scenario-based operations.
On the aircraft manufacturing front, the AVIC Chengfei booth exudes the aura of a national champion. The company specializes in complete aircraft systems, with a product line that includes the J-20 series, J-10CE, and drones like the "Cloud Shadow" and "Sky Wing," while also participating in the development of the nose section for domestic civil aircraft. In 2025, AVIC Chengfei achieved operating revenue of RMB 75.36 billion, a year-on-year increase of 15.84%, and net profit attributable to shareholders of RMB 3.43 billion, up 6.47%. Compared to many low-altitude companies still navigating airworthiness certification and trial production, AVIC Chengfei showcases a research, development, and supply chain capability already validated by a long-established aviation industrial system.
EHang Intelligent presents a picture closer to a commercialized model for the low-altitude economy. Its passenger-grade autonomous aerial vehicle was one of the most attention-grabbing exhibits on site. Visitors crowded around the cockpit for photos, with many asking not "Can it fly?" but "When will it operate regularly?" In 2025, EHang Intelligent delivered 221 eVTOLs and generated revenue of approximately RMB 510 million. Although the company remained in an annual net loss position, it achieved profitability in the fourth quarter. Having crossed the significant hurdle of airworthiness certification, EHang Intelligent now faces questions about operational frequency, scenario replication, and sustained profitability.
The AE200 displayed by Wofei Changkong also drew a large crowd. Unlike EHang Intelligent's smaller, autonomous vehicle approach, the AE200 is designed for multi-passenger urban and intercity travel. A notable observation was that staff now focus their discussions on routes, operators, and airworthiness progress rather than simply emphasizing letters of intent. The industry narrative is shifting from "How many units will you sell?" to "Where will the aircraft fly once certified, and who will operate it?"
Beyond the aircraft manufacturers, the most noteworthy aspect of the expo was the presence of listed companies that do not build aircraft but are trying to control the "nervous system" of low-altitude operations.
Les Information showcased solutions for low-altitude flight service support and airspace cooperative management, building on its traditional strength in civil aviation air traffic control systems. As the number of low-altitude aircraft increases, the importance of flight planning, route optimization, surveillance, warning, and conflict resolution grows. These companies don't sell a single aircraft; they sell the "air traffic rules" that allow hundreds or thousands of aircraft to operate safely.
Unigroup Guoxin (referencing the original Chinese name 众合科技 via its core parent/subsidiary, as the symbol name_en is not provided in the tag, but using the standard translation for 众合科技 as Unigroup Guoxin or its official name in context) extended its expertise from rail transit signaling to the low-altitude sector, presenting flight control computers, smart vertiports, and a low-altitude digital platform. However, its low-altitude business is still in the investment and order-validation stage. In 2025, the company reported revenue of RMB 2.28 billion, up 12.88% year-on-year, but a net loss attributable to shareholders of RMB 62.26 million. This reality is representative of many players: the technical concept is established, but generating significant revenue will take time.
Following a similar path of transferring ground traffic management experience to the sky, Casco Signal (卡斯柯信号) is now applying its expertise in managing train intervals, lines, and scheduling to address drone and eVTOL route planning, takeoff and landing coordination, and city-level operational management. On the expo floor, it was clear that low-altitude infrastructure is becoming a primary area of inquiry for government and industrial clients. As one attendee put it, you can buy an aircraft, but without airspace, vertiports, and a dispatch platform, it will remain a static display.
Huace Navigation highlighted its capabilities in BeiDou high-precision positioning, drone surveying, and intelligent control. North Navigation focused on inertial navigation and guidance control, while Landun Optoelectronics and Zhongguangxue (中光学) targeted the sector from radar detection, electro-optical sensing, and low-altitude surveillance. While their products may be less eye-catching than complete aircraft, they address a rigid requirement: the low-altitude domain first needs to be seen and measured accurately.
In the components area, Huafeng Technology and AVIC Optoelectronics showcased high-speed, high-reliability connectors and interconnect solutions. Kaizhong Precision (凯中精密) presented precision components and core motor parts, Lingdian Electric Control (菱电电控) displayed its power and electronic control technologies, and Guanglian Aviation (广联航空) highlighted its capabilities in aviation tooling, composite materials, and parts manufacturing, all attempting to enter the low-altitude aircraft supply chain. For these enterprises, the low-altitude economy represents an extension of their core business into a new aircraft market. The short-term contribution may not be significant, but once a primary aircraft model is finalized and enters mass production, supply chain companies often achieve stable deliveries earlier than the aircraft manufacturers.
The booth of Shenzhen Meituan Low-Altitude Logistics made the low-altitude economy feel more tangible and down-to-earth. Compared to passenger flights, Meituan's drone delivery has already integrated low-altitude logistics into specific scenarios like commercial districts and parks.
Other exhibitors, such as Shanghai Sushi Zhongbo (上海苏试众博), provided environmental reliability testing and inspection, while the Shanghai Branch of Aerospace Times Electronics demonstrated avionics, measurement, and control capabilities. These companies address the critical question of whether an aircraft can operate stably under extreme temperatures, vibration, and complex electromagnetic environments.
After walking through the entire expo, the most direct impression is that the low-altitude economy is transitioning from "Who can build an aircraft?" to "Who can make an aircraft fly safely, continuously, and cost-effectively?" Models and concepts remain plentiful, but what truly draws a crowd for a closer look is no longer just a sleek fuselage. It is about routes, airworthiness, dispatching, testing, connectors, and operational data. Placing an aircraft on a display stand is not the hard part. The real challenge begins after the expo ends: where can it fly, how many times a day, and for every flight, can it actually make money?
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Editor: Liu Wanli SF014