Zhong Guo Zheng Quan Bao·2026-01-07 20:46Core Insights - The commercial aerospace sector is a strong focus for investment, with the Wind commercial aerospace theme index showing a cumulative increase of over 60% from November 21, 2025, to January 7, 2026 [1] - Analysts believe that China's large-capacity reusable rockets are entering a critical breakthrough period, supported by a comprehensive policy framework, with significant events such as IPOs and rocket launches expected in 2026 [1][4] - The transition from speculative investment to performance realization in commercial aerospace is anticipated, with a focus on three core areas: rocket manufacturing, satellite networking, and downstream applications [1][8] Market Dynamics - The commercial aerospace sector is seen as a representation of structural market trends during a phase of high-quality economic development, with differentiated growth across various industries [2] - The sector's growth is driven by technological breakthroughs and supportive policies, including the establishment of the National Space Administration's commercial aerospace division and the launch of development funds [3][4] Technological and Policy Support - The sector is experiencing a multi-dimensional driving logic, with technological advancements since 2015, particularly in reusable rocket technology, providing solid support for market performance [3] - A series of policy measures have been implemented to support the industry, including the adjustment of listing standards for the Sci-Tech Innovation Board and the promotion of private investment [4][5] Upcoming Catalysts - Key events in 2026 include the anticipated IPO of Blue Arrow Aerospace, which is expected to set a benchmark for private rocket companies, and multiple rocket launches to validate technological advancements [6][8] - The domestic aerospace industry is rapidly closing the gap with international counterparts, particularly in areas such as rocket recovery and satellite production [6][8] Investment Opportunities - The commercial aerospace industry is transitioning from technology validation to commercial application, presenting investment opportunities across the entire value chain [7] - Key focus areas for investment include rocket manufacturing and operation, satellite production, and ground terminal applications, with an emphasis on companies that possess reusable technology and large-capacity launch capabilities [8][9] Strategic Recommendations - Investors are advised to consider companies' core positions within the industry, competitive stability, and financial health when selecting investment targets [9] - The commercial aerospace sector is expected to shift from speculative hype to tangible performance, with companies demonstrating substantial technological capabilities and order support likely to emerge as leaders [9]