军工ETF（512660）上涨2.4%，产业升级与军贸外需成关注焦点

Group 1 - The core viewpoint of the news highlights the upcoming military parade on September 3 in Tiananmen Square, showcasing the restructured military capabilities and advanced equipment such as unmanned systems and underwater combat technologies [1] - The 55th Paris Air Show featured the China Aviation Industry Corporation presenting 30 key products, including the J-20 and J-35A, with the J-35A making its first overseas appearance [1] - The AG600 amphibious aircraft received its production license on June 11, marking a significant milestone in China's emergency rescue aviation equipment development [1] Group 2 - According to Zheshang Securities, the defense and military industry is expected to reach a turning point in 2025, with military trade set to drive growth and valuation expansion [1] - The global arms race is opening up external demand, and China's market share is anticipated to increase significantly due to cost-effectiveness and combat capabilities [1] - The military sector is expected to recover from negative impacts such as personnel adjustments, order delays, and supply chain price reductions, with 2025 marking the end of the 14th Five-Year Plan and a return to growth for equipment [1] Group 3 - The aviation equipment sector is projected to benefit from the release of new military aircraft, with military trade providing development opportunities [1] - The domestic and foreign demand for aviation engines is expected to drive growth, supported by the recovery of the global civil aviation market [1] - China has largely achieved domestic production of military aircraft engines, and the development of commercial high-bypass ratio engines is progressing smoothly, with the low-altitude economy significantly boosting demand for general aviation power [1]