广东提出推动商业航天高质量发展，券商：有望孕育出千亿估值的本土龙头

Group 1 - Guangdong Province government issued policies to promote high-quality development of commercial aerospace from 2025 to 2028, focusing on building a comprehensive industrial ecosystem [1] - The policies include 19 specific support measures across seven areas: infrastructure construction, innovation capability enhancement, industry clustering, satellite application expansion, market entity cultivation, investment support, and talent development [1] - The aim is to create an integrated commercial aerospace industry ecosystem through support for satellite constellation construction, ground station facilities, product development, and terminal manufacturing [1] Group 2 - The global commercial aerospace market is projected to reach approximately $480.3 billion in 2024, accounting for 78% of the global aerospace economy [2] - China's commercial aerospace market has grown rapidly from 376.4 billion yuan in 2015 to 1.2447 trillion yuan in 2021, with a compound annual growth rate of nearly 20% [2] - There is potential for domestic commercial aerospace companies to achieve valuations in the hundreds of billions or even trillions, similar to the growth of SpaceX [2] Group 3 - Local governments are actively supporting the construction of commercial aerospace industry clusters, with cities like Shanghai, Beijing, Hainan, and Sichuan focusing on key areas such as satellite manufacturing and rocket launching [5] - The National Space Administration has implemented a lifelong accountability system for commercial aerospace project responsibilities, promoting industry standardization [5]