国防军工行业周报：低空经济专管司局设立已获批复，关注相关产业链发展

Investment Rating - The industry rating for the defense and military industry is maintained at "Overweight" [2][4] Core Insights - The defense and military industry index increased by 7.9% last week, outperforming the CSI 300 index by 6.9% [2][6] - Year-to-date, the defense and military industry index has risen by 7.8%, lagging behind the CSI 300 index by 6.6 percentage points [2][6] - As of October 18, 2024, the defense and military industry PE (TTM) is 62.34 times, positioned at the 49.1 percentile since 2012; the PB (LF) is approximately 3.12 times, at the 53.9 percentile since 2012 [2][6] Summary by Sections Market Review - The defense and military industry index rose by 7.9% from October 14 to October 18, 2024, outperforming the CSI 300 index by 6.9% [6] - The PE (TTM) for the defense and military industry is 62.34 times, and the PB (LF) is about 3.12 times as of October 20, 2024 [6] Low Altitude Economy - The establishment of the Low Altitude Economy Administration has been approved, which is expected to accelerate the commercialization of the low altitude economy [3][4] - The low altitude economy encompasses a long industrial chain, including aircraft manufacturing, power systems, airspace management, and low altitude operations [3][4] - The establishment of the administration is anticipated to attract more investments in the low altitude economy, enhancing the competitiveness of the industry [4][16]