政策东风催生布局良机 商业航天投资价值凸显

Core Viewpoint - The commercial aerospace industry is poised for rapid growth due to supportive government policies and initiatives aimed at enhancing safety and quality in development, with a focus on satellite manufacturing and rocket launch opportunities [1][3]. Policy Support - The National Space Administration has released an action plan for the high-quality and safe development of commercial aerospace from 2025 to 2027, emphasizing the importance of this sector in building a strong aerospace nation [3]. - On November 27, a meeting was held in Beijing to discuss the construction of a space data center, which aims to establish a large-scale data center system in low Earth orbit, with a power capacity exceeding 1 GW [2][3]. Market Performance - On November 28, the A-share commercial aerospace sector saw significant gains, with multiple stocks hitting the daily limit, reflecting growing investor interest and recognition of the sector's value [2]. - The commercial aerospace concept sector, including satellite internet and satellite navigation, has shown strong performance in the market [2]. Investment Opportunities - Analysts suggest focusing on upstream opportunities in satellite manufacturing and rocket launch segments, as the efficiency of key processes like launch approvals and satellite operation licensing is expected to improve [1][4]. - The establishment of the Commercial Aerospace Department within the National Defense Science and Technology Industry Administration is seen as a catalyst for further industry development [3][4]. Sector Insights - The satellite industry within commercial aerospace is gaining attention, with expectations for significant growth as China enters a high-frequency satellite internet networking phase around 2026 [4][5]. - Key areas of interest include space computing satellites, satellite assembly and operation, and satellite payloads and components, as well as solar wings and energy systems [5].