中国商业航天领域正迎来顶层管理架构的职能整合。 11月25日消息，近日，国家国防科技工业局（下称"国防科工局"）官网发布2026年度考试录用公务员公告，其中"商业航天司航天监管岗"的招聘信息引发行 业高度关注。 中信证券最新研报解读，这一招聘岗位的出现标志着专司商业航天领域管理的关键职能机构——商业航天司已正式成立，我国万亿规模商业航天产业迎来规 范化发展的关键转折点。 受此消息影响，今日商业航天概念盘中再度拉升，航天环宇20cm2连板，上海港湾触及涨停，再创历史新高，超捷股份、新雷能涨超10%，天银机电、星图 测控、乾照光电、上海沪工等跟涨。 此外消息面上，今天中午，搭载神舟二十二号飞船的长征二号F遥二十二运载火箭在酒泉卫星发射中心点火发射。发射任务取得圆满成功。这是中国载人航 天工程第一次应急发射任务。 11月25日，神舟二十二号飞船与长征火箭成功分离并进入预定轨道，发射任务取得圆满成功。 作为我国商业航天领域的核心监管与统筹机构，商业航天司的成立恰逢行业发展关键节点：朱雀三号、天龙三号等可回收火箭即将首飞，GW星座与千帆星 座在轨卫星均突破百颗，下游应用场景加速落地，资本市场也掀起商业航天板块投资热潮。 ...

一、事件：中国商业航天发展大会 2025第三届中国商业航天发展大会暨第四届中关村商业航天大会将于12月18日至19日在北京举办，据悉此次大会是商业 航天领域国内首个由行业社会组织发起和实施的全国性行业盛会。 除大会外，明年1月-3月还有多场航天行业盛会相继举办。 2026年1月23日-25日，第三届北京商业航天产业高质量发展大会暨2026北京国际商业航天展览会将在北京北人亦创国际 会展中心举办。据悉，会面积达20000平方米，将集结超75%的国内火箭整箭研制企业，集中展示朱雀三号、天龙三号 等可重复使用火箭成果。 1月28日-30日，SpaceCom 2026 将在美国奥兰多举办，其是全球商业航天领域的重要盛会，由美国国家航空航天局肯尼 迪航天中心等联合协办，汇聚民用、国防及商业航天领域领袖，聚焦快速发射、轨道弹性等关键技术。 3月19日-20日，2026第二届商业航天产业发展大会暨商业航天展将在深圳国际会展中心举办，将围绕低轨星座、商业火 箭发射、数字太空等热点展开研讨，同时集中展示可回收火箭、卫星分系统等成果。 关键部门成立，产业发展将提速 近日，国防科工局官网发布2026年度考试录用公务员公告，其中，招 ...

记者丨彭新 编辑丨张星 处于爆发前夜的商业航天领域，迎来顶层管理架构的职能整合。 近日， 国家国防科技工业局（下称"国防科工局"）官网发布的2026年度考试录用公务员公 告，计划招录"商业航天司航天监管岗"。 另据国家公务员局公开招录信息显示，该岗位职级 为"一级主任科员及以下"，职位简介为"承担商业航天领域政策研究、项目管理、重大事项组 织协调、安全监管等工作"。 据了解，商业航天司为国防科工局近期新增设部门，目前正处于人员招募的起步阶段。 这一机构设置的变动，被业界视为国家从体制机制层面破解商业航天复杂监管现状、推动产业 向规范化、规模化转型的关键信号。 图片来源：新华社 职能整合提速 卫星制造商银河航天向记者回应称，国防科工局商业航天司的成立有助于推动产业健康、有 序、高质量发展。公司期待商业航天司的设立持续推动我国商业航天加速发展，加速技术与产 业的融合创新，凝聚力量共同培育产业集群新生态。 此次商业航天司的设立，意在从顶层设计上解决上述职能交叉与分散的问题。据中信证券11月 23日研报，商业航天司的成立将有效整合多部门相关职能，卫星产业发展有望在更高层面实现 统筹协调，商业航天发射审批、卫星运营牌照 ...

根据公开的组织架构，此前卫星产业监管职能呈现"切块"特征：国防科工局作为民用卫星发射主管部 门，主抓卫星工程统筹及发射审批；国家航天局侧重技术论证与支持；工信部下属的信息通信发展司、 信息通信管理局和无线电管理局，则分别负责网络建设政策、市场准入与设备进网以及卫星轨道频率协 调等。 这种多部门并行的管理模式，随着商业航天企业数量增长和发射任务频率加密，审批流程繁琐、标准不 一、协调难度大等问题日益凸显。 （原标题：中国商业航天爆发前夜，商业航天司来了） 21世纪经济报道记者彭新 处于爆发前夜的商业航天领域，迎来顶层管理架构的职能整合。 近日，国家国防科技工业局（下称"国防科工局"）官网发布的2026年度考试录用公务员公告显示，计划 招录"商业航天司航天监管岗"。另据国家公务员局公开招录信息显示，该岗位职级为"一级主任科员及 以下"，职位简介为"承担商业航天领域政策研究、项目管理、重大事项组织协调、安全监管等工作"。 据了解，商业航天司为国防科工局近期新增设部门，目前正处于人员招募的起步阶段。 这一机构设置的变动，被业界视为国家从体制机制层面破解商业航天复杂监管现状、推动产业向规范 化、规模化转型的关键信号。 ...

商业航天的价值首先体现在对国家航天体系的战略补充与完善。当下，我国"太空基建"稳步推进。随着 低轨卫星互联网进入大规模组网阶段，我国面临着"星多箭少"的突出矛盾，仅靠传统火箭，运力远远不 够。发展商业航天，为大规模"太空组网"提供运力保障，有助于确保我国在未来的太空竞争中不落后。 今年，朱雀三号、天龙三号、引力二号等一批新型号商业火箭按计划展开设计、试验、发射。这些新型 运载工具的问世，将有效缓解卫星发射资源紧张的局面，支撑国家卫星互联网建设。 商业航天带来的不仅是发射机会的增加，还有技术路线的更多可能。与"国家队"相比，商业航天更机动 灵活。比如，蓝箭航天自主研发的液氧甲烷发动机，以其低成本、无污染、可重复使用的特点，成为全 球航天动力领域的新焦点；星河动力公司通过3D打印技术，大大降低火箭发动机制造成本。以市场机 制为助力，商业航天通过"小步快跑、快速迭代"的模式，获得许多科研单位的青睐，让太空探索更"接 地气"，形成了对"国家队"的有效补充。 山东海阳附近海域，引力一号遥二运载火箭点火起飞，尾拖烈焰，直奔苍穹，将3颗卫星送入预定轨 道。商业航天崭露头角，为航天事业注入新力量。 "十五五"规划建议提出，" ...

导语：在国内已成立数十家商业火箭公司的背景下，对于技术研发和规模生产节奏的把握，或初步划分 出市场格局。 商业航天是近期最热门的新兴行业之一。不同于一些存在不确定性的新兴行业，商业航天的短中期前景 清晰可见：规模达数万颗卫星的星座将在太空中组建卫星互联网，成为未来通信、计算、感知的重要基 建。美国商业航天巨头SpaceX的"星链"星座已发射超1万颗卫星，并已走上盈利道路。 从卫星制造、发射、组网到卫星应用，商业航天具有万亿元市场规模，但当前其堵点也显而易见：卫星 亟待发射，火箭运力严重不足，我国商业火箭公司尚没有一款大运力、低成本、高可靠的火箭。 临近年末，我国新一代商业火箭即将首发。这批火箭都定位为大型液体可复用火箭，旨在服务卫星互联 网组网发射。可复用是降低发射成本的关键技术之一，其进展在行业内外备受关注。不过，上海证券报 记者采访专家及业内投资人士了解到，通过回收复用降低成本，并不能通过单次技术突破实现，而是经 过持续验证后，通过高频次发射才能实现的结果。对于组网的迫切需求，在循序渐进攻克可复用技术的 同时，进行规模化生产、提高火箭可靠性是当下更务实的选择。 大量卫星亟待发射凸显火箭运力不足 卫星互联网 ...

Core Points - Blue Origin's New Glenn rocket successfully launched and achieved its first stage recovery at sea, marking a significant milestone for the company in reusable rocket technology [1][3][5] - This launch positions Blue Origin as the second company globally, after SpaceX, to master rocket recovery technology [3][5] - The New Glenn rocket is designed for multiple uses, with the first stage expected to be reusable up to 25 times, enhancing its competitiveness in the launch market [6][7] Technical Specifications - New Glenn rocket features a two-stage design, with a height of 98 meters and a diameter of 7 meters, providing a launch thrust of 1,750 tons [6] - The first stage has a near-Earth orbit capacity of 45 tons and a geostationary transfer orbit capacity of over 13 tons [6] - The rocket's first stage is powered by seven BE-4 engines using liquid methane and liquid oxygen, while the second stage is equipped with two BE-3U engines [6] Mission Details - The rocket successfully deployed NASA's ESCAPADE twin satellites, which will study Mars' atmosphere, after approximately 34 minutes of flight [6][7] - The ESCAPADE mission will not directly head to Mars but will first enter a near-Earth orbit before making its journey to Mars in 2026 [7] - The launch faced multiple delays due to weather conditions and previous mission failures, highlighting the challenges in the aerospace industry [7] Industry Context - The successful launch of New Glenn adds pressure on China's commercial space sector, which is preparing for the maiden flight of its reusable rocket, Zhuque-3, expected in mid-November [8][11] - Other Chinese rockets, such as Tianlong-3 and Chang Zheng-12A, are also in development, indicating a competitive landscape in the global space launch market [11]

Core Insights - The construction of a maritime recovery system for reusable rockets in Hainan is set to begin, with an expected delivery by the end of 2026, providing a public service platform for China's commercial rockets [1] - Blue Arrow Aerospace's "Zhuque-3" rocket has successfully completed the first phase of its maiden flight, aiming to challenge rocket recovery technology with a planned launch in 2025 [1] - China is gradually closing the gap in reusable launch technology with global leaders, moving towards autonomous and sustainable space capabilities [1] Group 1: Historical Context - The concept of rocket recovery is not new, with the first successful vertical landing demonstration by McDonnell Douglas's DC-X in 1993, which proved the technical feasibility of returning rockets [1] - The DC-X project, despite its initial success, was abandoned by NASA in 1996 due to budget constraints and a lack of market demand for cost-saving measures at the time [4][5] - The resurgence of interest in rocket recovery coincided with the rise of commercial spaceflight, leading to renewed focus on this technology [5] Group 2: SpaceX's Role - Elon Musk founded SpaceX in 2002 with the goal of reducing launch costs and achieving rocket reusability, which he deemed essential for making Mars exploration feasible [7] - SpaceX faced numerous challenges in its early attempts at rocket recovery, but achieved a significant milestone in December 2015 with the first successful landing of a Falcon 9 rocket [7][8] - The company has since established a routine of reusing rockets, significantly lowering launch costs from an industry average of $60 million to around $15 million [8] Group 3: Global Landscape - Currently, SpaceX is the only company with a fully operational reusable rocket system, while other players like Blue Origin and various Chinese companies are in different stages of development [10][11] - The global landscape shows a clear division, with the U.S. leading in operational capabilities, while China is rapidly advancing with multiple companies working on reusable technology [11][12] - Other countries, including those in Europe, Russia, Japan, and India, are lagging behind in the development of reusable rocket technology [11][12] Group 4: Technical Challenges - Rocket recovery involves overcoming significant technical challenges, including precise guidance, control, deceleration, and resistance to disturbances during descent [20][21][22][23] - The integration of advanced technologies in materials, propulsion, control systems, and algorithms is crucial for achieving successful rocket recovery [25][26][27] Group 5: China's Commercial Space Race - China is witnessing a competitive race among several private companies to develop reusable rocket technology, with notable players like Blue Arrow Aerospace and others aiming for key technology validations by 2025 [29][30] - The success of these companies will not only depend on technological advancements but also on establishing a sustainable commercial model for frequent launches [30][31] - The ongoing developments signify a shift in China's commercial space sector from merely building rockets to achieving reusable capabilities [29][30]

Core Insights - The "Zhuque-3" rocket is set to make its maiden flight in mid-November, marking a significant milestone as China's first operational reusable launch vehicle [1] - "Zhuque-3" is the world's first all-stainless steel liquid oxygen-methane rocket, designed for enhanced reusability and future scalability, similar to SpaceX's "Starship" [1] - The launch cost target for "Zhuque-3" is under 20,000 yuan per kilogram, comparable to SpaceX's Falcon 9, which costs approximately 3,000 USD per kilogram [1] Industry Impact - The debut of "Zhuque-3" has garnered significant attention both domestically and internationally, including interest from SpaceX founder Elon Musk, who noted its potential to disrupt the reusable rocket market [3] - Musk predicts that "Zhuque-3" could surpass the Falcon series within five years if development proceeds smoothly [3] - The Chinese aerospace sector is experiencing rapid growth, with other projects like Tianbing Technology's "Tianlong-3" and CAS Space's "Lijian-2" also preparing for their maiden flights [5]

Core Insights - The low Earth orbit (LEO) satellite market is becoming a strategic focus in the US-China competition, with the principle of "first come, first served" governing orbital and frequency resources [1][2] - SpaceX has launched over 10,000 satellites, with more than 8,600 currently operational, while China has only about 300 LEO satellites in orbit, indicating a significant gap that necessitates accelerated deployment [1][2] Group 1: Market Dynamics - The LEO orbit can accommodate approximately 60,000 satellites, and strict international regulations require timely launches to retain frequency and orbital rights [2] - SpaceX has applied for resources for 42,000 satellites, while Amazon's Kuiper plans to deploy 3,236 satellites; China's China Star Network and Shanghai Yuanxin plans to deploy around 13,000 and 15,000 satellites, respectively [2] Group 2: Launch Capacity and Technology - Rocket launch capacity is a critical metric, with SpaceX's Falcon 9 capable of 22.8 tons to LEO, while China's Long March 8 has a capacity of only 7 tons, highlighting a significant disparity [3] - The development of commercial rockets and reusable technology is progressing rapidly in China, with several private companies achieving successful launches and narrowing the gap with international standards [3] Group 3: Cost Reduction Strategies - SpaceX has reduced the cost of individual satellites to below $500,000 through mass production, while China's satellite manufacturing is also lowering costs via modular design and batch production [4] Group 4: Market Opportunities - LEO satellites are expected to integrate deeply with terrestrial 5G networks, enabling global seamless coverage, with significant advancements anticipated by 2025 [5] - The combination of artificial intelligence (AI) and LEO satellites is leading to the development of next-generation intelligent satellite systems, with major tech companies like NVIDIA and Google planning to deploy AI-capable satellites [5] Group 5: Future Developments - China's LEO satellite deployment is entering a rapid networking phase, with recent successful launches indicating an acceleration in the pace of deployment [6][7] - The domestic market is moving towards a "constellation deployment" phase, transitioning from "single satellite customization" [7] Group 6: Investment Opportunities - Companies to watch include Fudan Microelectronics (688385.SH) and Unisoc (002249.SZ) as potential investment targets in the LEO satellite sector [8]