Galaxy Securities: The commercialization of the low-altitude economy is accelerating, and it is recommended to pay attention to the progress of low-altitude orders from rail transit signal system companies

China Galaxy Securities research report indicates that 2025 is expected to become the first year for the commercialization of low-altitude economic applications, with the acceleration of infrastructure construction such as air traffic management systems and take-off and landing sites. Rail transit control system companies have a technical extension foundation in low-altitude airspace management and can quickly enter the low-altitude economic field. Since 2024, they have launched low-altitude products such as flight control computers, air traffic management systems, and smart take-off and landing sites, achieving a breakthrough from 0 to 1 in low-altitude business, and are expected to build a second growth curve. It is recommended to pay attention to the progress of low-altitude orders from rail transit signal system companies, with relevant targets being CHINA CRSC, UniTTEC, and TCT