Over the last decade, there has been an increase in the number of insurgent and criminal activities and attacks across the globe. This has prompted the governments of a majority of the countries to invest considerably in enhancing the surveillance and monitoring systems through the purchase of new biometric equipment and related technologies. In addition, the growing instability in certain regions has led to high migration of people from Middle Eastern countries like Syria and Iraq to EMEA and North American regions. To address the issue, defense and homeland security ministries of countries are improving their border security systems by installing new fingerprint, facial, and iris recognition systems to help identify any suspect or terrorist entering the country.

The global life jacket market is driven by a demand from coast guards and government marine agencies globally. Recreation is another key end-user segment, which demands life jacket for activities such as water skiing, fishing, and boating. Strong demand from APAC and European countries contribute significantly to market growth. Inflatable life jackets offered by vendors will contribute to the global life jacket market significantly because of their comfortable and streamlined design that enable easy maneuverability. However, issues with non-compliance due to heavy weight of inherent life jackets leads to inefficiency during work. However, it represents a potential opportunity for vendors to introduce designs with features that provide both comfort and yet protection from accidents in water.

Public transportation is a subset of the national transportation infrastructure and a major component of the economy. Passenger safety, secure critical infrastructure, and customer service are of utmost importance to transit agencies. The need to secure air, sea, and surface transportation is important because of increasing intrusions and the trafficking of arms and illegal goods between different locations and countries. The safety and security of public transport is very important, as many people commute by bus or train. Post 2000, mass transit hubs and transportation centers witnessed a rise in criminal and violent activities. In addition, violent acts around the world have shown that mass transit systems are the easy targets for criminal attacks. It is seen that onethird of criminal activities worldwide target transportation and transit systems. For instance, in 2005, three bomb blasts took place on subway trains and buses during the morning rush hour in London, which killed more than 30 people.

Avionics are electronic systems used in aircraft to communicate, navigate, and support various complex flight applications. They are the most expensive and critical components in a modern aircraft. Modern avionic systems also aid in improved navigation and routing, provide enhanced situational awareness to pilots, and improve the air traffic management (ATM) process. There is an increasing demand for advanced high-performance avionics in the military sector.

Military aircraft either consist of rotary-wing or fixed-wing aircraft that are used for combat missions or for the transportation of military personnel and military supplies. Many of the global military aircraft fleets are in service for decades. This aging fleet of aircraft needs to be upgraded and retrofitted with modern aircraft systems and components to extend their service life for modern combat and strategic missions.

VTOL aircraft are capable of vertical take-off, landing, and hovering in the air. These can be classified as fixed-wing, rotorcraft, powered-lift aircraft that use powered rotors such as tiltrotor, cyclocopter, tail-sitter, tiltwing, and fan-wing. VTOL aircraft are also capable of short take-off and landing (STOL), conventional take-off and landing (CTOL), and short take-off and vertical landing (STOVL). Apart from VTOL helicopters, the other two types of VTOL aircraft that are being used are

 港股新能源：包括风电、光伏、核电、生物质发电、电池等细分板块，风电运营商、光伏多晶硅 龙头较A股具有稀缺性。估值分化明显，整体估值处历史相对低位：行业龙头享受一定的估值溢价； 小盘股（如总市值低于50亿港币）估值相对便宜（10x以下）。  -  风电：大部分属于港股通标的，在港股有集聚效应；沪港通标的如龙源电力（916.hk）、华能新能 源（958.hk）；深港通标的金风科技（2208.hk）、中国电力新能源（735.hk）、中国高速传动 （658.hk）、中广核新能源（1811.hk）、京能清洁能源（579.hk）；  -  光伏：行业龙头大多在港股及美股上市；上游多晶硅环节在港股、美股中概（保利协鑫、新特能源、 大全新能源），中游电池、组件龙头均为美股中概（天合、晶科、阿特斯、晶澳等）；港股通标 的如保利协鑫（3800.hk）、信义光能（968.hk）、协鑫新能源（451.hk）；

上市平台稀缺性降低：IPO加速导致壳价值减弱；军工上市平台市值整体上行，已反映资产注入预期，后续资产注入弹性减弱。