航空装备Ⅱ行业：商飞签下130架飞机订单，C929迎来首家意向客户

Investment Rating - The industry investment rating is "Overweight (Maintain)" [1] Core Viewpoints - The report highlights significant orders for aircraft, including 130 aircraft orders signed by COMAC with China National Airlines, Hainan Airlines, and Colorful Guizhou Airlines during the 15th China International Aviation and Aerospace Exhibition [1] - The C929 wide-body aircraft is expected to have a design capacity of 280 seats and a range of 12,000 kilometers, currently in the preliminary design stage [1] - The report emphasizes the steady progress in the delivery of the C919 aircraft, with expectations for increased delivery pace and more confirmed orders in the future [1] Summary by Sections Recent Industry Performance - In the past twelve months, the industry has shown a relative return of 14.64% over one month, 11.57% over three months, and 4.9% over twelve months compared to the CSI 300 index [1] - Absolute returns were reported at 18.56% over one month, 32.72% over three months, and 17.76% over twelve months [1] Investment Highlights - COMAC signed a confirmation order for 60 aircraft with Hainan Airlines and a contract for four full-motion flight simulators with CAE for C919 and C909 pilot training [1] - The report anticipates that the delivery pace of the C919 will further improve as the supply chain matures and production capacity increases, potentially attracting more confirmed orders [1] Market Outlook - The report cites a forecast from COMAC indicating that the global fleet of passenger aircraft will grow to 48,931 by 2043, with a significant demand for new aircraft in China [1] - It is projected that China will receive 9,323 jet aircraft, including 8,681 single-aisle and 1,621 twin-aisle aircraft, contributing to the growth of the domestic aviation market [1]