Entering the "14th Five-Year Plan" period, the accelerated construction of my country's military equipment, the rapid deployment of new types of military aircraft, and the incremental construction of missiles by "orders of magnitude" have all created a strong demand for upstream materials. Superimposed independent and controllable increments and the application ratio of high-end high-performance materials in new models of equipment have increased. At present, in the military industry chain, upstream materials show a relatively strong "in short supply", and also show higher performance compared with downstream. Increase flexibility.
From the perspective of research and development, aerospace materials have the characteristics of "one generation of military aircraft, one generation of materials". The demand for military aircraft upgrades requires companies to continuously increase investment in research and development of new high-performance materials, and improve the level of production technology to ensure yield.
Under the circumstance that the overall supply of military upstream materials is in short supply, in recent years, military material companies have successively issued expansion plans, and it is expected that the production capacity will at least double by the end of the "14th Five-Year Plan" period. Considering the situation of new production capacity climbing, the industry's high prosperity is expected to continue.
From the perspective of industry characteristics, the new military materials industry basically has three major barriers: long-term customer certification cycle, strict access qualification issuance, high technical difficulty, and large R&D investment.
Compared with the overall manufacturing industry chain, the scientific research expense rate of the new military materials sector is also higher. The huge R&D investment also makes it difficult for new entrants to compete with the leading players, which also leads to a higher degree of concentration in most links than in the traditional manufacturing industry chain.
