Abstract: Driven by the collaborative system of data, algorithms, computing power and airspace, the low-altitude economy is reshaping traditional economic patterns, yet the value transformation of low-altitude data factors remains a critical bottleneck for industrial implementation. From the perspective of data factor economics, low-altitude data feature non-rivalry, high penetrativeness, and increasing marginal returns. They must undergo resource aggregation, governance, circulation and application to complete the transition into assetization. In terms of enabling logic, at the micro level, it builds closed-loop intelligent operations for enterprises, driving a shift from experience-driven management to data-driven decision-making. At the meso level, it breaks down industrial boundaries, reshapes collaborative systems and fosters new business forms. At the macro level, it optimizes airspace resource allocation, enhances total factor productivity, and strengthens economic resilience. Four prominent challenges hinder current development: insufficient supply of high-quality data coupled with weak processing capacity; unclear property rights alongside inadequate security and trust mechanisms; difficulties in quantifying value contributions leading to imbalanced benefit distribution; conflicts between airspace safety supervision and industrial development. Accordingly, this paper proposes a four-pronged integrated approach: improving the data property rights and benefit distribution systems to stimulate momentum, deploying infrastructure for computing power and privacy-preserving computing infrastructure to solidify the foundation, fostering an open and integrated ecosystem led by application scenarios to unleash multiplier effects, and establishing a flexible collaborative regulatory system to balance security and development. The framework facilitates the transformation of low-altitude data from raw resources to valuable assets, and from basic factors to core vehicles.

Key words: low-altitude data, data factors, low-altitude economy, production factors, new quality productive forces, digital transformation, data governance