深度｜商业航天新材料全景图：新材料企业的机遇与投资逻辑（附20+报告）

Core Insights - The global commercial aerospace market is projected to reach a size of $75-125 billion in 2024, with an expected growth to $140 billion by 2025. In China, the market is anticipated to reach 2.3 trillion RMB in 2024, growing by 22.9% year-on-year, and is expected to exceed 2.8 trillion RMB in 2025. Material technology is becoming a core factor determining the competitiveness of commercial aerospace companies [1] - The demand for materials in commercial aerospace differs significantly from traditional aerospace, with a focus on lightweight materials, high-temperature resistance, and reliability to reduce costs. The cost savings of approximately 20,000-30,000 RMB per kilogram of payload make lightweight materials a priority [1] Overview of Key New Materials in Commercial Aerospace - A total of 128 new materials have been identified as critical for commercial aerospace applications, categorized into various types including aluminum-lithium alloys, titanium alloys, stainless steel, high-temperature alloys, copper alloys, and composite materials [3][4] - Aluminum-lithium alloys (e.g., 2195, 2099) are used in rocket storage tanks and main structures, offering a weight reduction of 10-15% compared to traditional aluminum alloys, with a strength increase of 20% [4] - Titanium alloys (e.g., Ti-6Al-4V) are utilized in engine components and satellite structures, with a density of 4.5 g/cm³ and high-temperature resistance up to 600°C [4] - Carbon fiber composites (e.g., T300, T700) are essential for rocket fairings and satellite shells, providing a strength-to-weight ratio significantly higher than steel [4][5] Application of Carbon Fiber Composites - Carbon fiber composites (CFRP) are crucial in commercial aerospace, accounting for 15-20% of the manufacturing cost of medium-sized reusable rockets, with values exceeding 20 million RMB per unit [10] - In satellite manufacturing, carbon fiber costs represent 12-15% of total costs for low Earth orbit satellites, with values ranging from 8-12 million RMB, and over 25% for high Earth orbit satellites, exceeding 15 million RMB [10][11] - The T700 grade carbon fiber has a tensile strength of ≥4.9 GPa and is used in less critical components, while T800 and T1100 grades are used in more demanding applications, with T1100 achieving a tensile strength of 7.0 GPa [11] High-Temperature Materials and Refractory Metals - Ultra-high temperature materials are critical for rocket engine technology, with combustion chamber temperatures exceeding 3000°C and nozzle throat temperatures above 1650°C [15] - Ceramic matrix composites (C/C) and high-temperature alloys (e.g., nickel-based alloys) are essential for engine components, with domestic production rates for high-temperature alloys exceeding 95% [19][20] - Refractory metals (e.g., tungsten, molybdenum) are key materials for extreme temperature environments, with applications in rocket engine nozzles and fuel storage systems [23][24] Emerging and Sustainable Materials - Emerging materials such as self-healing composites and biodegradable polymers are being explored for their potential in reducing environmental impact and enhancing the longevity of aerospace components [8] - The use of recycled carbon fiber composites is being piloted, offering a cost reduction of 50% while maintaining 90% of the original strength [8]