空芯光纤产业化

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中国银河证券:空芯光纤规模化落地加速 景气度快速提升
智通财经网· 2025-09-25 06:44
Core Viewpoint - Microsoft collaborates with Corning and Heraeus to scale up the production of hollow-core fiber (HCF), aiming to enhance the performance and reliability of AI networks and meet the growing demand for network infrastructure [1][2] Group 1: Industry Trends - The trend towards industrialization of hollow-core fiber is clear, with significant potential for demand growth in long-distance data transmission and applications requiring high reliability and low latency [3][4] - Hollow-core fiber can significantly increase transmission speed and reduce latency, achieving approximately one-third lower latency compared to traditional glass-core fibers [3] Group 2: Company Developments - Microsoft acquired Lumenisity in 2022 and launched the world's first hollow-core fiber factory in the UK, with plans to deploy 15,000 kilometers of hollow-core fiber over the next two years [2] - Corning's manufacturing facility in North Carolina will produce HCF for Microsoft, expanding global fiber production and supporting Azure's network deployment [1][2] Group 3: Competitive Landscape - Domestic and international enthusiasm for the industrialization of hollow-core fiber is high, with companies like China Mobile launching commercial lines and Microsoft and Amazon actively promoting its use [4] - The current market for hollow-core fiber is relatively small, but companies with technological and patent advantages are expected to lead, with domestic firms like Hengtong Optic-Electric and Zhongtian Technology positioning themselves well for market share [4][5]
通信行业行业点评报告:空芯光纤规模化落地加速景气度快速提升
Zhong Guo Yin He Zheng Quan· 2025-09-24 11:58
Investment Rating - The report maintains a "Recommended" rating for the communication industry [3]. Core Insights - The enthusiasm for the industrialization of hollow-core fiber optics is high both domestically and internationally, with domestic manufacturers expected to leverage cost and technological advantages to capture a significant market share [2]. - Major companies like Microsoft are actively pursuing the industrialization of hollow-core fiber optics, with plans to increase global production to meet the growing demand for network infrastructure [5]. - The hollow-core fiber optics technology promises to significantly enhance transmission speed and reduce latency, making it a competitive medium for global optical communication [5]. Summary by Sections Industry Overview - The hollow-core fiber optics market is currently small, but manufacturers with technological and patent advantages are in a leading position. Companies like Lumensity and Changfei Fiber Optics are at the forefront, while domestic players such as Hengtong Optic-Electric and Zhongtian Technology are also making strategic moves [2]. Market Dynamics - The report highlights that the demand for multi-mode fiber optics is increasing, and as the industrialization of hollow-core fiber optics accelerates, domestic manufacturers are expected to achieve large-scale shipments and capture a larger market share [2]. Technological Advancements - Hollow-core fiber optics utilize air or inert gas instead of solid fiber cores, which allows for faster signal transmission and reduced latency compared to traditional glass fiber optics. This technology is particularly beneficial for data centers, which are expanding in scale and energy consumption [5]. Investment Recommendations - The report suggests focusing on companies such as Changfei Fiber Optics, Hengtong Optic-Electric, and Zhongtian Technology for potential investment opportunities in the hollow-core fiber optics sector [6].
通信行业点评报告:空芯光纤规模化落地加速景气度快速提升
Yin He Zheng Quan· 2025-09-24 11:20
Investment Rating - The report maintains a "Recommended" rating for the communication industry [3] Core Viewpoints - The enthusiasm for the industrialization of hollow-core fiber optics is high both domestically and internationally, with domestic manufacturers expected to leverage cost and technological advantages to capture a significant market share [2] - Major companies like Microsoft, Corning, and Heraeus are actively collaborating to advance the production of hollow-core fiber optics, with Microsoft planning to lay 15,000 kilometers of this fiber in the next two years [5] - Hollow-core fiber optics can significantly enhance transmission speed and reduce latency, making it a promising medium for future global optical communication [5] Summary by Sections Industry Overview - The hollow-core fiber optics market is currently small, but manufacturers with technological and patent advantages are in a leading position [2] - Companies such as Lumensity and Yangtze Optical Fibre are key players in the hollow-core fiber production, with other domestic firms like Hengtong Optic-Electric and Zhongtian Technology also making strategic moves [2] Market Dynamics - The demand for multi-mode fiber is expected to rise, and as the industrialization of hollow-core fiber accelerates, domestic manufacturers are likely to achieve large-scale shipments [2] - The collaboration between Microsoft and Corning aims to enhance the performance and reliability of AI networks through the production of hollow-core fiber [5] Future Outlook - The report suggests that while there are still technical challenges to overcome for mass production, the trend towards industrialization of hollow-core fiber optics is clear, with significant growth expected in demand for long-distance data transmission applications [5]
空芯光纤规模化落地加速,景气度快速提升
Yin He Zheng Quan· 2025-09-24 09:24
行业点评报告 · 通信行业 空芯光纤规模化落地加速,景气度快速提升 2025 年 09 月 24 日 核心观点 国内外落地积极性较强,国内厂商预计将凭借成本及技术优势占据较高份 0 额。当前国内外对于空芯光纤的产业化落地积极性较高,海外方面,微软从 2024 年开始便着手布局空芯光纤的产业化落地,并于 2025 年同康宁及贺利 氏合作布局相关方向,亚马逊也在积极推动空芯光纤的使用;国内方面,中国 移动在 7月 29 日于广东开通我国首条反谐振空芯光纤商用线路,不仅实现了 我国自主研发、具备完全自主知识产权的反谐振空芯光纤从技术原型到实际应 用的跨越。竞争格局方面,当前空芯光纤整体市场空间相对较小,具备技术以 及专利优势的厂商具备较大领先态势,当前具备空芯光纤量产能力的厂商较 少,以 Lumensity 以及长飞光纤为主,我国光纤厂商如亨通光电、中天科技 等厂商也在积极布局,卡位优秀,预计随着多模光纤需求量的提升,以及空芯 光纤产业化落地进程的加速,我国厂商将凭借技术及成本优势,实现规模化出 货,占据较大市场份额。 | 通信行业 | | | | --- | --- | --- | | 维持评级 | 推荐 | | ...