灵巧手：人形机器人应用落地的关键

Industry Investment Rating - The report highlights the high value of dexterous hands in humanoid robots, emphasizing their critical role in application scenarios [3] Core Viewpoints - Dexterous hands are complex and require a balance between cost and functionality, with Tesla's robot hand having 11 degrees of freedom compared to the human hand's 21 [6] - The performance and cost of dexterous hands are influenced by three core components: drive, transmission, and sensing systems [26] - Various driving methods, including motor, pneumatic, hydraulic, and shape memory alloy drives, are used in dexterous hands, with Tesla employing a hollow cup motor + planetary gearbox + encoder + driver + sensor structure [3][20] - Key players in the dexterous hand market include Tesla, Harmonic Drive, Maxon, Zhaowei Electromechanical, and Moons' Industries, with a focus on domestic substitution [3] Dexterous Hand Structure and Function - The human hand has 21 degrees of freedom, while Tesla's robot hand has only 11, indicating a simplified design for specific scenarios [6] - The functionality of dexterous hands is primarily determined by the fingers, with three main types: rigid joint, flexible joint, and soft joint dexterous hands [10][11] - The internal structure of dexterous hands often mimics human anatomy but falls short in achieving the same level of flexibility and adaptability [14] Development Path: Cost vs. Functionality - The design of dexterous hands must consider human ergonomics, space constraints, and weight, balancing performance optimization with cost-effectiveness [26] - The report outlines key evaluation criteria for dexterous hands, including high load capacity, sensitivity, compliance, integration, and adaptability [27] Key Components of Dexterous Hands - Drive Systems: Hollow cup motors are widely used due to their lightweight and high efficiency, often paired with planetary gear reducers [30][33] - Transmission Systems: Tendon-driven systems are common, offering flexibility and control, while Tesla uses a combination of metal tendons and worm gear transmission [20][48] - Sensors: Internal sensors (position, bending, tension) and external sensors (proximity, tactile) are crucial for feedback and environmental interaction [17][61] Related Companies - Maxon: A leader in precision drives, offering over 5,000 products and 1 million combinations, with a strong focus on customization [109] - Harmonic Drive: A pioneer in harmonic reducers, with a significant market share and applications in humanoid robot hands [111] - Moons' Industries: A global player in control motors and drive systems, with a strong presence in the robot market and cost advantages in hollow cup motors [114][117] - Zhaowei Electromechanical: Specializes in micro-drive systems, with extensive experience in customizing robot products and potential expansion into dexterous hands [119][123] - Hengshuai: Developing harmonic magnetic field motor technology, aiming to adapt it for humanoid robot applications [126] - Optic: A leader in high-end optical encoders, breaking foreign monopolies with cost-effective solutions [129]