商业航天系列报告之三：太空光伏景气度高，多路线并行创造板块性行情

Investment Rating - The industry investment rating is "Outperform the Market," indicating that the industry index is expected to perform better than the benchmark index over the next 6-12 months [12]. Core Insights - The commercial aerospace sector is experiencing high prosperity in space photovoltaic technology, with U.S. manufacturers announcing plans to expand solar photovoltaic capacity by 100GW, which will contribute incremental orders to domestic equipment and materials manufacturers [2][4]. - The rapid deployment of satellites overseas, alongside China's acceleration in satellite deployment planning, is driving the high prosperity of the space photovoltaic sector [4]. - The current lack of a defined technical solution for space photovoltaic technology suggests a sector-wide trend, benefiting equipment and materials segments directly from overseas expansion [4]. - Component manufacturers are expected to increase investments in the space photovoltaic niche, creating channel barriers [4]. Summary by Sections Industry Investment Rating - The industry is rated as "Outperform the Market" [12]. Key Drivers of the Rating - U.S. manufacturers are set to expand solar photovoltaic capacity significantly, which will lead to increased orders for domestic suppliers [4]. - The successful launch of over 10,000 Starlink satellites by SpaceX has positioned it as a leader in satellite deployment, enhancing the demand for space photovoltaic applications [4]. - The ongoing development of various technical routes in space photovoltaic technology indicates a competitive landscape, with potential for multiple technologies to advance simultaneously [4]. - The focus on supply chain stability and real-world supply experience is crucial for manufacturers in the space photovoltaic sector [4]. Investment Recommendations - Recommended companies include Foster, JinkoSolar, LONGi Green Energy, and others, with a suggestion to pay attention to companies like Aotaiwei and Dongfang Risheng [4].