[Table_Title] 研究报告 Research Report 9 May 2025 全球工业与能源 Global Industrial and Energy 国际工业+能源周报(05/05-05/09): 美国计划全面改造空中交通管制系统， 北约继续强化东翼防御能力 Global industrials + Energy Updates: The U.S. plans to comprehensively modernize the national air traffic control system, and NATO continues to strengthen its defense capabilities on the eastern flank | 杨斌 Bin Yang | 毛琼佩 Olivia Mao | 杨钰其 Yuqi Yang | 明悦馨 Ella Ming | | --- | --- | --- | --- | | bin.yang@htisec.com | olivia.qp.mao@htisec.com | yq.yang@htisec.com | ella.yx.mi ...

[Table_Title] 研究报告 Research Report 9 May 2025 全球工业与能源 Global Industrial and Energy 国际工业+能源周报(05/05-05/09): 美国计划全面改造空中交通管制系统， 北约继续强化东翼防御能力 Global industrials + Energy Updates: The U.S. plans to comprehensively modernize the national air traffic control system, and NATO continues to strengthen its defense capabilities on the eastern flank | 杨斌 Bin Yang | 毛琼佩 Olivia Mao | 杨钰其 Yuqi Yang | 明悦馨 Ella Ming | | --- | --- | --- | --- | | bin.yang@htisec.com | olivia.qp.mao@htisec.com | yq.yang@htisec.com | ella.yx.mi ...

Investment Rating - The report suggests a positive outlook for the aerospace and defense sectors, recommending a focus on high-performance structural component manufacturers and defense contractors due to increased defense spending and recovery in the aerospace industry [5]. Core Insights - The report highlights the impact of tariffs on technology giants' capital expenditure plans, particularly in data centers, while also noting a strategic adjustment may be necessary [2][17]. - The industrial sector shows stable price indices for aircraft engines and components, with a slight increase in prices year-on-year [3][23]. - The energy sector is experiencing fluctuations in electricity prices, with a significant rise in capacity prices in the MISO region due to reduced supply [4][19]. - The robotics industry saw a slight decline in installations in 2023, but the long-term growth trend remains intact, with expectations for increased demand driven by automation needs [2][35]. Summary by Sections Global Market Review - The US stock market has shown a steady upward trend, with the S&P 500 and Dow Jones Industrial Average continuing to rise, indicating positive market sentiment [9][11]. Infrastructure - **Data Centers**: Major tech companies reaffirmed their capital expenditure plans despite tariff pressures, with significant investments planned for data center capacity [17]. - **Energy Construction**: MISO's summer capacity prices surged to $666.50 per megawatt day due to reduced surplus capacity, highlighting the need for increased capacity [19][20]. - **Aerospace**: Boeing faces challenges due to tariffs affecting aircraft deliveries to China, impacting its global supply chain [21][22]. Industrial Equipment - The industrial equipment price index remains stable, with slight increases noted in specific sectors such as gas turbines and transformers [39][53]. Global Energy - The energy market is experiencing price fluctuations, with natural gas prices declining due to trade tensions and supply-demand dynamics [4][19]. Key Company Insights - Companies like Howmet Aerospace and Raytheon Technologies are positioned to benefit from increased defense spending and aerospace recovery [5][6]. - ABB is highlighted for its potential growth due to rising demand for industrial robots as manufacturing returns to the US [6][35].