SIASUN(SZ:300024)2025-02-10 08:41Summary of the Conference Call on Quadruped Robots Industry Overview - The conference focuses on the quadruped robot industry, particularly in defense and aerospace applications, highlighting the commercialization of bionic technology and robotic dogs [1] Key Insights and Arguments - Advantages of Quadruped Robots: Quadruped robots exhibit significant flexibility and stability, especially in complex terrains, outperforming wheeled, tracked, or humanoid robots in unstructured environments [3][6] - Market Growth: The global quadruped robot market is expected to grow at an annual rate of over 30% in the next five to six years, with the domestic market projected to grow around 40% [3][10] - Commercialization Challenges: High manufacturing costs and limited application scenarios are major pain points for quadruped robotic dogs. However, algorithm optimization and cost reduction in components may alleviate these issues [3][6][22] - Key Components: The quadruped robot consists of five functional systems: structural and drive systems, control systems, perception systems, communication systems, and other functional modules. The structural and drive systems account for 60% to 70% of the total value, with precision joint motors being the most valuable components [3][13] - Motor Drive Trends: Electric motor drives are the future trend, with each leg typically having three degrees of freedom, totaling 12 rotary joint motors. The cost of a single joint motor ranges from 200 to 5,000 RMB [3][16] - Importance of Motion Control Algorithms: Motion control algorithms are a core competitive advantage for manufacturers, determining the robot's movement path and execution precision, crucial for stable operation in various environments [3][19] - Perception Systems: These systems utilize LIDAR, ultrasonic sensors, and dual cameras for environmental awareness, aiding in gait adjustment and movement planning [3][21] Market Dynamics - Global and Domestic Market Size: By 2024, the global quadruped robot market is estimated to reach approximately 1.6 billion RMB, with consumer and industrial markets each accounting for half. The military market's potential remains significant but is difficult to quantify due to its opacity [9][10] - Competitive Landscape: Boston Dynamics has long led the hydraulic quadruped robot technology. However, since 2019, several Chinese companies, including Qushui Technology, have rapidly emerged, with Qushui holding 40% of global revenue and 70% of sales [12] Future Outlook - Challenges to Industrialization: The quadruped robot industry faces challenges in achieving cost-effectiveness and performance balance. Enhancements in intelligence, autonomy, and algorithm improvements are necessary for broader market penetration [22] - Investment Opportunities: The industry shows promise in special scenarios due to the flexibility and stability of quadruped robots. Continuous monitoring of software algorithms and AI model advancements is recommended, as these developments could significantly enhance robot capabilities. Companies with technological advantages, such as Xindong Link and Lingyun Co., are expected to have good growth opportunities [23]