2026年度策略：破晓，军工逐步进入复苏期

Group 1: Core Insights - The report predicts that the defense industry will gradually enter a recovery phase in 2026, driven by increased military spending and the release of backlog orders from the previous five-year plan [2][19][20] - The military expenditure is expected to rise significantly, with a notable increase in defense budgets across various countries, indicating a positive trend for the global military market [23][22] - The report emphasizes the importance of military trade, particularly in light of recent geopolitical events that have opened up long-term growth opportunities for the industry [15][46] Group 2: Focus Areas - Key areas of focus include main battle equipment such as missiles, unmanned systems, and new production models, as well as military trade which is anticipated to reshape the global market [3][25] - In the realm of new combat capabilities, attention is directed towards military AI, aerospace satellites, and deep-sea technology, which are expected to drive innovation and growth [4][25] - The report highlights the significance of military-civilian integration, particularly in sectors like nuclear fusion and large aircraft manufacturing, which present substantial market opportunities [5][26] Group 3: Investment Strategies - The investment strategy for 2026 emphasizes the importance of focusing on companies that are well-positioned in the market, have strong pricing power, and are likely to benefit from military trade and new equipment production [6][38] - Specific companies to watch include those involved in missile production, unmanned systems, and new equipment, which are expected to experience significant growth in the coming years [27][29] - The report suggests that the military trade sector is poised for a transformation, with increased global military spending driving demand for military equipment and services [41][46]