九三大阅兵装备梳理：大国重器集结，新质装备铸军威-20250929

Investment Rating - The report provides a "Buy" rating for the defense and military industry, indicating a strong potential for growth and performance exceeding the market index by over 20% in the next 6 to 12 months [86]. Core Insights - The report emphasizes the significant advancements in military technology showcased during the recent military parade, highlighting the strategic importance of new equipment in enhancing national defense capabilities [1][2]. - It identifies a trend towards modernization and diversification of military assets, particularly in missile systems, unmanned vehicles, and naval capabilities, which are expected to drive future demand [4][50][67]. Summary by Sections 1. Missile Systems: "East Wind Rising, Long Sword Soaring" - The report highlights the introduction of advanced long-range artillery and missile systems, such as the 191 long-range box rocket launcher, which enhances the army's strike capabilities with high precision and rapid response [9]. - The CJ-20A cruise missile and other variants are noted for their role in multi-domain deterrence and precision strikes, indicating a robust demand driven by regional security challenges [14]. - Hypersonic missiles like the DF-17 and DF-26D are recognized for their speed and evasion capabilities, marking a shift towards non-linear warfare strategies [15][27]. 2. Unmanned Systems: "Unmanned Iron Array, Offense and Defense Integrated" - The report discusses the deployment of various unmanned aerial vehicles (UAVs) designed for reconnaissance and combat, showcasing China's advancements in autonomous warfare technology [51]. - It notes the increasing integration of unmanned ground vehicles for diverse military tasks, indicating a shift towards automated and efficient combat operations [57]. - The naval segment highlights the introduction of unmanned underwater vehicles and surface drones, emphasizing their strategic role in modern naval warfare [62]. 3. Aviation, Ground, and Amphibious Forces: "Dragon Soaring in the Sky, Iron Flow Treading the Land" - The report details the advancements in fighter jets, particularly the J-35A, which signifies a transition in naval defense capabilities from coastal to blue-water operations [68]. - Ground forces are equipped with next-generation armored vehicles, enhancing their operational effectiveness and adaptability in various combat scenarios [75]. - The amphibious assault capabilities are strengthened with new vehicles designed for rapid deployment and versatile operational roles, reflecting a comprehensive upgrade in military readiness [79].