航天专区
发射 · 卫星 · 防务航天巨头 · eVTOL
航天经济四大子主题 —— 发射与基础设施、卫星与直连手机、防务航天巨头、eVTOL 飞行汽车。防务巨头是质量锚,多数新航天公司为近期 IPO 或尚未盈利(已标注)。层级为人工策展,价格为公开数据实时(延迟)行情。非投资建议。
发射与基础设施
把载荷送上轨道 + 在轨基础设施。多家公司 2025 年才 IPO、交易历史短 —— 风险更高。
Most diversified small/mid-cap space pure-play: launch + satellite systems + defense.
Lunar landers + NASA/defense backlog; closest to profitability among new-space names (execution risk).
Launch + lunar; IPO'd Aug 2025, large backlog but very short trading history.
Starlab commercial space station + in-space infrastructure; IPO'd Jun 2025, pre-scale.
Payload/propulsion systems for missiles + launch; IPO'd Feb 2025.
卫星与直连手机
对地观测数据 + 卫星直连手机连接。市场空间大,但部分公司成败取决于技术能否规模化(二元)。
Direct satellite-to-standard-smartphone connectivity; binary but enormous TAM if it scales.
Large Earth-observation fleet with recurring data revenue + growing backlog — the space-data anchor.
Satellite connectivity with a large anchor-customer (Apple emergency SOS) relationship.
防务航天巨头
质量锚:盈利的防务巨头,航天与导弹防御敞口大、有分红、波动较低。
Defense prime with major space + missile-defense exposure; quality anchor with a dividend.
Defense prime (missiles/sensors/space sensors); diversified aerospace-defense anchor.
Space systems + strategic missile/defense prime; strong space-segment exposure.
Space sensors/electronics + defense tech; higher-margin electronics tilt vs pure primes.
Drones, hypersonics propulsion, satcom; revenue inflection expected (higher-growth tilt).
Government IT/services supporting space (ground systems, mission software) for NASA/Space Force.
eVTOL 飞行汽车
电动垂直起降飞行器。两家龙头均尚未商业化、受适航认证制约 —— 投机。
层级为人工策展 · 价格为公开数据实时(延迟)行情 · 仅供参考 · 非投资建议