United Aircraft Group, a fast-growing Chinese drone manufacturer, is planning an initial public offering as early as next year as it ramps up production and expands internationally, a senior executive said.
Sun Liye, vice president of the Shenzhen-based company, said United Aircraft was considering a possible listing in either Hong Kong or mainland China in 2027 or 2028 primarily to fund research and development for new models.
“The R&D of new aircraft requires substantial funding and continuous investment,” Sun told Reuters ahead of the Singapore Airshow. “This is a major business development need for us.”
He declined to discuss the size of a potential IPO, but said the company raised more than 3 billion yuan ($431.59 million) in 2023, achieving a valuation of more than 10 billion yuan. It employs around 1,000 R&D personnel, accounting for 60% to 70% of its total workforce, he added.
At Asia’s largest aviation and defence exhibition, United Aircraft plans to showcase its Boying T1400 drone meant for agricultural, emergency and logistics missions in the model’s first overseas appearance.
The company expects to deliver about 10,000 drones across its product portfolio this year, which also includes the TD550 firefighting and emergency communication model and the Q100 agricultural drone. This marks a sharp increase from the more than 3,000 delivered in 2025, Sun said.
The company also plans to begin producing 20 Lanying R6000 tilt-rotor logistics and emergency drones this year, with output expected to scale rapidly to 300 units in 2027, he added.
OVERSEAS PUSH
While United Aircraft generates most of its revenue domestically, it is ramping up efforts in international markets. In 2025, the company sold Q100 agricultural drones to Cambodia, primarily to farm owners, and exported 100 Q20 logistics drones to France for delivery and inspection services.
“We just started entering overseas markets over the past year, so revenue from such markets is less than 10% for now,” Sun said. However, he expressed confidence that international sales could grow to 30% or more of total revenue within two to three years.
The company is prioritising Middle Eastern and Southeast Asian markets due to easier access and less resistance to Chinese drone technology, he said.
While the primary customers for some of the company’s drones like the Lanying R6000 are logistics companies, he also highlighted the “significant” potential in emergency rescue operations, particularly in Southeast Asia where earthquakes and other geological disasters are common.
Unlike many aerospace manufacturers grappling with global supply chain disruptions and engine shortages, Sun said United Aircraft has achieved near-total independence from design and R&D to manufacturing, with its supply chain sourced entirely within China.
“Global supply chain (constraints) have no impact on us,” he said.
Reuters
