兴业证券：商业航天发展有望迎来重大加速拐点

Core Viewpoint - The aerospace industry has been elevated to a national strategic level, with the goal of becoming a "strong aerospace nation" being closely tied to the development of commercial aerospace [1] Group 1: Policy and Strategic Importance - The term "strong aerospace nation" is now mentioned alongside "manufacturing strong nation," indicating the strategic importance of the aerospace sector [1] - Achieving the goal of a "strong aerospace nation" will require the development of commercial aerospace, which will facilitate a shift from "task-driven" to "demand-driven" aerospace activities [1] Group 2: Industry Development and Opportunities - The commercial aerospace sector in China is currently at a breakthrough stage, with significant projects like the "Star Network" and "Thousand Sails" constellation already initiated [1] - The development of these constellations is expected to lead to a substantial acceleration in industry growth, particularly during the 14th Five-Year Plan period, with a notable increase in rocket launch frequency and satellite demand [1] - There are recommended business opportunities in the rocket launch and satellite manufacturing segments due to the anticipated growth in these areas [1]