“十五五”规划落地临近，军工景气度有望回升，航空航天ETF（159227）迎长期布局窗口

Core Viewpoint - The military industry is expected to experience a recovery in overall prosperity due to the implementation of the "14th Five-Year Plan" and the initiation of a new order cycle, which will clarify development guidance for the next three to five years [1] Industry Summary - The military industry is projected to maintain growth in equipment demand over an extended period, with new development opportunities arising from the gradual implementation of the "14th Five-Year Plan" [1] - The entire military industry chain, from upstream raw materials to downstream manufacturers, is anticipated to achieve significant breakthroughs in technological innovation, equipment upgrades, and industrial structure optimization [1] - China's military trade has been expanding its market, with a notable cost-performance advantage in weaponry, which is expected to create new growth points [1] Company Summary - The Aerospace ETF (159227) closely tracks the National Aerospace Index, selecting high-quality companies in aerospace equipment, military electronics, and ground armaments, aligning with the direction of new productive forces [1] - The National Aerospace Index has a higher proportion of aerospace equipment and military equipment compared to the CSI Military and CSI Defense indices, with aerospace equipment accounting for 65.4% of the weight, facilitating investors' strategic allocation [1]